Financial services are the economic services provided by the finance industry, which encompasses a broad range of business activities that manage money. They include everything from the major investment banks and hedge funds to credit unions and small community banks as well as private wealth managers, insurance agencies, debt resolution companies, global payment systems (such as Visa or MasterCard) and exchanges that facilitate stock, derivative and commodity trades.

The field offers a wide range of career paths, from entry-level jobs to executive positions, and it’s not uncommon for professionals in the industry to move between sectors or even companies. This variety makes it easier to find the right fit for a person’s skills and interests as well as their lifestyle, especially since many positions offer good job security.

Many people enter the financial services industry through their networks, but a good educational background is also helpful, particularly for those who are interested in becoming investment portfolio managers or other senior-level roles. Entry-level positions that focus on customer service are another common path into the sector.

A healthy financial services sector helps people get the money they need through loans for mortgages, cars, education or other expenses. It allows them to save for retirement or other goals and safeguards their property and health through insurance. It’s also a source of millions of good-paying jobs, helping families and individuals have a better life. And it enables businesses to grow and expand.