Financial Services Careers
The financial services industry has traditionally comprised three separate types of businesses:
- Banks kept money and other valuables safe and loaned money to individuals and businesses.
- Insurance companies protected businesses and individuals from financial loss.
- Investment firms facilitated the buying and selling of stocks, bonds, and other investments.
However, the financial services industry is undergoing rapid change. As a result of deregulation, these businesses are now allowed to provide a wider range of financial services. For example, banks now sell insurance policies and insurance companies offer a variety of investment services. Low-fee Internet trading now allows individuals to buy and sell stocks on-line.
Read more about the three major types of financial services and the specialized professions that support each business:
- Banking
- Insurance
- Investments
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Source: Occupational Outlook Handbook, 2006-2007 Edition; Bureau of Labor Statistics, U.S. Department of Labor.