Notes

The Finances Industry
Financial services are an umbrella term that encompasses a wide array of different financial activities. Financial services include financial advice, investment, estate planning, insurance, mortgage and financial advisory. Other financial services are risk management, securities trading, and international finance . All financial services have an essential part to play in economic activity and therefore financial institutions provide many services, all of which are vital to the smooth functioning of the economy.

The financial services industry is a vast global market. All sorts of financial products are offered by financial services companies to both large organisations and small firms. One of the most important aspects of the financial services industry is that it exists to provide advice to its customers, either through a financial advisor or through a brokerage firm. Some financial advisers offer their services directly to individuals through the internet. On the other hand, brokerage firms offer financial products such as mutual funds, investment portfolios, and stock options to traders and investors.

Small businesses make up the majority of the total revenue generated within the financial services industry. Many small businesses are innovative, with innovative ideas and concepts, but do not have the financial backing of large corporations, banks or other lending institutions. A small business is defined by Wikipedia as being any company engaged in trade or commerce whose primary activity is the provision of services to consumers for personal or professional purposes.

One of the more unique aspects of the financial services industry is that the financial advisor plays a crucial role not only for individual clients but also for the wider business sector. Financial advisors advise clients on investment strategies, on whether particular financial goods are worthwhile and on how to grow their capital stock (in the UK, this means lending funds). Many financial advisors also act as business contacts for lending institutions, acting as intermediaries between the lender and the borrower, and advising them on which loans to approve and which not to, as well as acting as guarantors for loans provided by banks. Again, a financial advisor can be described by Wikipedia as the "managing director of an organization that provides a network of financial services, financial products, financial advising or credit unions", where "services" refers to all those activities performed by a financial advisor.

Within the financial services industry. The financial advisor also acts as an intermediary between lenders and borrowers and between lenders and prospective borrowers. The financial advisor has a wide range of duties, the most important of which are brokering loans and advising clients on the best lending opportunities available at any given time. He can also work as a financial adviser, a market analyst, a risk manager or a financial officer in his own right, depending on the specific sector in which he works.

Another distinct sector within the financial services industry is that of the insurance sector. Insurance is primarily concerned with the risks inherent in buying, owning and/or selling financial instruments. It is the field in which people invest their money in order to make a return on their investment and minimise the risk of loss. A number of financial advisors deal in insurance risk management and provide advice and recommendations to their clients about what instruments to buy or sell. Examples of these instruments are life insurance, annuities and bonds. An insurance professional is also likely to work closely with banks and other lenders.

A large number of financial advisors also work as marketing or sales professionals within firms and organisations of all sizes. Their primary role is to promote and sell financial products to consumers, and to build up potential clientele. In some cases this function may overlap with advising function. Marketing is an essential part of the services industry because it allows companies to get the word out to the public on a number of different occasions. These occasions can be for events, product launches, as well as advertising campaigns.

The finance and insurance sectors are some of the most important economic sectors and have an enormous effect on the global economy. Finance can be broadly divided into two main sub-sectors, investment management and commercial banking. Investment managers seek to maximise returns from their investments and commercial bankers are responsible for ensuring the supply of funds to businesses and organisations. Some of the world's most important banks and financial services companies are located in New York, London, Tokyo and Frankfurt. In terms of investment management, the likes of Merrill Lynch, Goldman Sachs, Citi Group and Morgan Stanley are some of the major players.
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