Financial services are the economic services provided by the finance industry, which encompasses a broad range of service sector firms that provide financial management. They include credit unions, banks, credit-card companies, insurance providers, and the like. They help individuals manage their finances, save for retirement or other goals, and safeguard assets from risk. Financial services also enable businesses to grow and expand by providing loans. The sector is vital to the economy and plays a critical role in the global marketplace.

A healthy financial services industry benefits everyone. It allows people to obtain loans for mortgages, cars, education, and other needs. It enables businesses to grow by providing loans and lines of credit. It also helps safeguard assets by providing insurance against the risks of loss and unforeseen events. It is for these reasons that financial services are regulated and overseen by government agencies at both the state and federal levels.

There are many jobs in the financial services industry ranging from entry-level positions to highly paid executive roles. Most financial services companies offer a fairly flexible work schedule, and many positions aren’t location specific. Salaries vary depending on the position, but a qualified person can expect to make at least PS45,000 per year.

The financial services industry provides a variety of products and services that are essential to the modern world. They include intermediation services that channel cash from savers to borrowers, such as deposit-taking institutions that accept money from customers and pay it out to borrowers, or credit unions that give members checking accounts with a prepaid balance. They also include securities trading services that facilitate the buying and selling of stocks, bonds, and other financial instruments.