Financial services are the companies and organizations that offer a wide range of products and services that help individuals, businesses and institutions manage their finances. They include banks, credit unions, credit-card companies, insurance firms, investment funds and brokerage houses. The industry also includes private equity and venture capital providers, which supply investment capital to companies in exchange for ownership stakes or profit participation.

Whether you need help managing your investments or you want to secure a mortgage, chances are you’ll require the expertise of someone in the financial services industry at some point. However, the variety of available options can make it difficult to choose the right provider for your unique needs. To make the process easier, start by assessing your goals and determining what level of service you need. Do you need a onetime consultation or ongoing advice and wealth management? Once you’ve identified your needs, you can begin researching the different financial services companies that meet your requirements.

There are a number of ways to break into the financial services industry, but you’ll probably have the most success with a job that’s a good fit for your skills and interests. Many entry-level positions in the field, such as teller or customer service representative, provide valuable on-the-job training that can help you build your experience and skills. In addition, the more connections you have within the industry, the more likely you’ll be to land a job.

The exact definition of the financial services industry varies slightly from country to country, but most countries have a central bank; depository organizations (such as savings or deposit banks and building societies); loan companies, credit-card issuers and other providers of consumer loans; insurance and pension funds; and securities, brokerage and asset management firms. The sector may also include money market fund companies and other mutual funds, securities brokers and dealers, and corporate finance companies that underwrite debt and equity for public and private entities to raise capital for mergers and acquisitions.

The financial services sector is a crucial part of the economy, enabling people to save and invest their incomes and obtain credit to purchase goods and services. These companies also provide the means for poor families to buy land, improve their home and farm, acquire livestock and consumer durables, and start or expand microenterprises. In addition, the financial services sector provides insurance to protect against loss or damage from natural calamities, accidents and other risks.