Most people will need help with their finances at some point in their life, whether it’s getting a mortgage or managing credit cards. The industry that helps with these and other financial concerns is known as Financial services. This is an extremely important part of the world economy, and a career in it can be lucrative. But before you make the decision to get into the industry, here are some things to keep in mind.

It may seem like the financial services industry is all-encompassing today. Banks no longer stick to just offering checking accounts, loan associations offer mortgages and auto loans, and brokerage companies provide consumers investment opportunities in stocks, mutual funds and more. But it wasn’t always this way. Before the 1970s, each sector of the industry more or less stuck to its niche.

Those with debt issues may need to seek out the help of a company that specializes in helping individuals get out of debt by negotiating with creditors and paying off what is owed. Payment service providers give businesses the ability to accept credit and debit card payments from their customers in exchange for a percentage of the total transaction cost.

Securities research firms provide services that include assisting traders and clients with information on specific securities, maintaining public positions and advising brokers on trading strategies. Private banking services offer high-net worth clients with a range of banking products and bespoke wealth management services.