Financial services are a broad range of business activities that deal with the flow and management of money, such as banking, insurance, credit unions, and investment firms. The sector provides an essential service to the economy by enabling people to invest and borrow, which in turn stimulates business activity, including production and consumption of goods and services.

Financial institutions accept deposits (funds) and make loans to individuals and businesses to meet their needs, such as buying a home or starting a new business. In the process, they earn interest on the funds they hold for depositors and borrowers. They also provide payment systems, such as debit and credit cards and bank drafts like checks, and trade and settle payments between individuals and businesses.

Other financial services help individuals manage risk by providing life, health, property, and liability insurance coverage. They also provide asset management and wealth planning services to help customers grow their assets and incomes. And they administer capital markets, which enable companies to raise funds by selling shares in their businesses or issuing bonds.

A career within the industry offers high earning potential for those willing to put in the effort. Most roles offer a salary plus commission, which gives workers the opportunity to maximise their earnings. However, the industry is highly regulated so workers need to be aware of compliance measures.