Financial services is a broad industry that includes a wide variety of professionals and products. It encompasses many areas like banking, brokerage and mortgage lending. It also includes other credit and financing companies, insurance firms and debt resolution services. The financial services sector is a vital part of the global economy and it has an enormous impact on personal finance as well as business finance.
The lines that separate the different sectors of the industry have begun to blur as consolidation and regulation continue to occur. Banks have expanded their range of services in order to stay competitive and meet consumer demands. This has resulted in the disappearance of the Glass-Steagall Act and the reemergence of Wall Street. Brokers now offer services like money market accounts, mutual funds and even mortgages.
There are also newer financial services being offered, including internet trading platforms and robo-advisers. These types of financial services can save consumers time and money by doing much of the work that used to be done by a financial advisor. These types of new financial services are gaining in popularity because they can be accessed from the comfort of one’s home or office.
A career in financial services can be a great choice for those who are interested in the world of money and finance. There are a number of ways to get into this field, including earning a degree in finance or business administration from an accredited university. Obtaining a bachelor’s degree in these fields will prepare you for the entry-level positions that are available in many financial services firms.
Getting into a career in financial services can be aided by networking and building relationships with people who currently work in the industry. The more connections you have, the greater your chances of landing an interview and breaking into the industry. In addition, many in the industry agree that personality is as important as technical skills and experience when it comes to landing a job in the financial services sector.
To help you stay on top of the industry, make it a habit to read a financial journal every day. The Wall Street Journal is a good place to start, but there are a number of other high-quality publications that focus on various aspects of the financial services sector. Subscribe to one that matches your interests and keep it on hand for daily reading. This will provide you with a broader understanding of the industry and allow you to spot trends before they become major news stories. It can also be helpful to join a professional organization in your area of the financial services sector. These organizations can often give you access to job postings before they are published, and they may be able to connect you with employers who are looking for employees in your area of expertise.