Financial services are the companies and professionals that help people manage their money. This industry includes companies that give advice on investments, including stocks and mutual funds. It also includes mortgage lenders, credit card services and banks.

A healthy financial sector allows consumers to get loans for home improvements, cars and education. It helps individuals save for retirement or other goals and protects their assets through insurance policies. It also provides businesses with the funds they need to expand and grow.

This industry also includes debt resolution services, global payment service providers (like Visa and Mastercard), and credit exchanges and wire transfer services. Many of these financial services firms offer a wide range of products and services, so it’s important to assess your needs before choosing one. For example, if you’re looking for help investing an inheritance, a onetime meeting might be enough, while if you’re balancing multiple goals like saving for retirement, buying a house and paying off student loan debt, you may need ongoing advice and wealth management.

A career in financial services is rewarding and interesting, with opportunities to earn well. However, it is a cyclical industry that can suffer from economic downturns. As a result, job security in this sector isn’t guaranteed. Those working in senior roles can be more immune to these cycles, but most jobs in the financial services sector are based on commission, which means that your income is linked directly to how much business you bring in.