Financial services – Wikipedia

Economic service provided by the finance diligence
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, indemnity companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers, and some government-sponsored enterprises. [ 1 ] Financial Services Authority Seychelles logo on build up

history [edit ]

[2] change in access to a fiscal account or services between 2005 and 2014 by country

The term “ fiscal services ” became more prevailing in the United States partially as a result of the Gramm–Leach–Bliley Act of the late 1990s, which enabled unlike types of companies operating in the U.S. fiscal services diligence at that time to merge. [ 3 ] Companies normally have two distinct approaches to this new type of business. One border on would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the develop firm, and adds the acquisition to its holding company just to diversify its earnings. Outside the U.S. ( e.g. Japan ), non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent and has its own customers, etc. In the other style, a bank would plainly create its own indemnity division or brokerage division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company .

relationship to the government [edit ]

The fiscal sector is traditionally among those to receive government support in times of widespread economic crisis. such bailouts, however, enjoy less public defend than those for early industries. [ 4 ]

Banks [edit ]

commercial bank services [edit ]

A commercial depository financial institution is what is normally referred to as just a bank. The term “ commercial “ is used to distinguish it from an investment savings bank, a type of fiscal services entity which alternatively of lending money directly to a business, helps businesses raise money from other firms in the form of bonds ( debt ) or broth ( fairness ). The primary operations of commercial banks include :
The United States is the largest placement for commercial bank services .

investing banking services [edit ]

Singapore fiscal zone by night ( 25449263528 )

  • Underwriting debt and equity for the private and public sector for such entities to raise capital.
  • Mergers and acquisitions – Work to underwrite and advise companies on mergers or takeovers.
  • Structured finance – Develop intricate (typically derivative) products for high net worth individuals and institutions with more intricate financial needs.
  • Restructuring – Assist in financially reorganizing companies
  • Investment management – Management of assets (e.g., real estate) to meet specified investment goals of clients.
  • Securities research – Maintain their own department that services to assist their traders, clients and maintain a public stance on specific securities and industries.
  • Broker Services – Buy and sell securities on behalf of their clients (sometimes may involve financial consulting as well).
  • Prime Brokerage – An exclusive type of bundled broker service specifically meant to service the needs of hedge funds.
  • Private banking – Private banks provide banking services exclusively to high-net-worth individuals. Many financial services firms require a person or family to have a certain minimum net worth to qualify for private banking service.

New York City and London are the largest centers of investment bank services. NYC is dominated by U.S. domestic business, while in London international business and commerce make up a significant helping of investment bank natural process. [ 5 ]

Foreign rally services [edit ]

alien Exchange machine

FX or Foreign exchange services are provided by many banks and specialists foreign substitution brokers around the universe. Foreign change services include :

  • Currency exchange – where clients can purchase and sell foreign currency banknotes.
  • Wire transfer – where clients can send funds to international banks abroad.
  • Remittance – where clients that are migrant workers send money back to their home country.

London handled 36.7 % of global currentness transactions in 2009 – an average day by day upset of US $ 1.85 trillion – with more u dollars traded in London than New York, and more Euros traded than in every other city in Europe combined. [ 6 ] [ 7 ] [ 8 ] [ 9 ] [ 10 ]

investing services [edit ]

  • Collective investment fund – A fund that acts as an investment pool so investors can put money into a fund that will reinvest it into a variety of securities based upon their common, outlined investment goal.
  • Investment Advisory Offices – Run by registered investment advisors who advises clients in financial planning and invests their money.
  • Hedge fund management – Hedge funds often employ the services of “prime brokerage” divisions at major investment banks to execute their trades.
  • Private equity – Private equity funds are typically closed-end funds, which usually take controlling equity stakes in businesses that are either private or taken private once acquired. Private equity funds often use leveraged buyouts (LBOs) to acquire the firms in which they invest. The most successful private equity funds can generate returns significantly higher than provided by the equity markets.
  • Venture capital – Private equity capital typically provided by professional, outside investors to new, high-growth-potential companies in the interest of taking the company to an IPO or trade sale of the business. Startup companies are typically fueled by an angel investor.
  • Family office – Investment and wealth management firm that handles a wealthy family or small group of wealthy individuals with financial plans tailored to their needs. Similar to private banking.
  • Advisory services – These firms (or departments within a larger entity) service clients with financial advisers who serve as both, a broker as well as a financial consultant.
  • Custody services – the safe-keeping and processing of the world’s securities trades and servicing the associated portfolios. Assets under custody in the world are approximately US$100 trillion.[11]

New York City is the largest center of investment services, followed by London. [ 12 ]

policy [edit ]

National Insurance Services ( NIS ) – St. Vincent ^ the Grenadines – panoramio

  • Insurance brokerage – Insurance brokers shop for insurance (generally corporate property and casualty insurance) on behalf of customers. Recently several websites have been created to give consumers basic price comparisons for services such as insurance, causing controversy within the industry.[13]
  • Insurance underwriting – Personal lines insurance underwriters actually underwrite insurance for individuals, a service still offered primarily through agents, insurance brokers, and stock brokers. Underwriters may also offer similar commercial lines of coverage for businesses. Activities include insurance and annuities, life insurance, retirement insurance, health insurance, and property insurance and casualty insurance.
  • Finance and insurance – a service still offered primarily at asset dealerships. The F&I manager encompasses the financing and insuring of the asset which is sold by the dealer. F&I is often called “the second gross” in dealerships that have adopted the model
  • Reinsurance – Reinsurance is insurance sold to insurers themselves, to protect them from catastrophic losses.

The United States, followed by Japan and the United Kingdom are the largest policy markets in the world. [ 14 ]

other fiscal services [edit ]

fiscal exports [edit ]

A fiscal export is a fiscal military service provided by a domestic firm ( careless of ownership ) to a extraneous firm or individual. While fiscal services such as bank, indemnity, and investment management are frequently seen as domestic services, an increasing proportion of fiscal services are now being handled afield, in other fiscal centres, for a assortment of reasons. Some smaller fiscal centres, such as Bermuda, Luxembourg, and the Cayman Islands, miss sufficient size for a domestic fiscal services sector and have developed a function providing services to non-residents as offshore fiscal centres. The increasing competitiveness of fiscal services has meant that some countries, such as Japan, which were once self-sufficient, have increasingly imported fiscal services. The leading fiscal exporter, in terms of exports less imports, is the United Kingdom, which had $ 95 billion of fiscal exports in 2014. [ 15 ] The UK ‘s situation is helped by both unique institutions ( such as Lloyd ‘s of London for policy, the Baltic Exchange for shipping etc. ) [ 16 ] and an environment that attracts foreign firms ; [ 17 ] many international corporations have ball-shaped or regional headquarters in the London and are listed on the London Stock Exchange, and many banks and other fiscal institutions operate there or in Edinburgh. [ 18 ] [ 19 ]

See besides [edit ]

References [edit ]

further reading [edit ]

  • Porteous, Bruce T.; Pradip Tapadar (December 2005). Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates. Palgrave Macmillan. ISBN 1-4039-3608-0.
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