Financial services are a vital part of a healthy economy, providing individuals and businesses with credit and financing options. While many people envision bankers, brokers and mortgage lenders when they think of the industry, it’s actually more expansive than that. The financial services sector encompasses everything from Wall Street to small community banks, and even nonprofits that provide counseling or money management advice. It also includes companies that offer debt resolution and global payment providers like Visa and Mastercard.

The core of financial services is intermediation—channeling cash from savers to borrowers and redistributing risk. For example, investors can invest their cash with a stockbroker, who will buy and sell securities on their behalf and keep track of market trends. Similarly, a bank takes on the risk of lending to borrowers and can shed that risk by aggregating deposits from a large number of savers. Insurance companies, meanwhile, pool the assets of numerous policy holders to pay out in the event of a catastrophic loss.

As a result, many of the key players in financial services are regulated by government agencies. This can add a layer of complexity to the work and make it challenging for entrepreneurs to navigate the sector’s ever-changing rules and regulations. But it also means that those who are highly competent and able to adapt quickly can find enormous success in the industry. That’s why so many professionals choose to make financial services their career. At Phyton Talent Advisors, we know from working with our clients that the work is intellectually stimulating and can be very rewarding financially.