All economic services provided by the financial industry are commonly known as financial services. These services include a number of businesses that manage money. The businesses included in this case are banks, credit unions, insurance companies and so much more. Each of these businesses provide a specific type of financial services. For instance these businesses help in keeping money safe until when withdrawals are required. They also issue chequebooks so that bills can be paid. These services provide clients with personal loans, commercial and mortgage loans. Another financial service provided is facilitation of standing orders and direct debits. They also allow financial transactions at any branches.
Other financial services that are offered are investment services. In this case there are private banks that provide banking services. These services are normally provided to those individuals that have a high net worth. The services provided by these banks are personal. Tax planning and wealth management are these services. Other financial services include brokerage services. Buying and selling of financial securities is normally facilitated by these services. This is between the buyers and sellers involved. Other financial services offered include capital market services. These underwrite debt and equity to assist companies in their deals. These services normally help in mergers, acquisitions and restructuring debts.
Other financial services offered include currency exchange. Clients are normally allowed to easily purchase foreign currency bank notes in this case. After they buy these notes they then get the authority to sell. Other financial services that are provided include wire transfer. This enables clients to be able to send money to international banks. Other services offered include remittance. These services mostly apply to migrants who are not in their country. This means they can actually send money to their home countries because of these services.
Other financial services that are provided include investment management. These normally help in the running of investment funds. These financial services focus solely on creating capital through client investments. Other financial services include hedge fund management. Major investments are able to execute their trades using hedge funds. Custody services are other financial services. Safekeeping and processing of the worlds security trades is also facilitated by custody services. Other associated portfolios can also be serviced by custody services. Other financial services include advisory services. Discount and stock brokers are the ones that involve these services. Investors are helped to buy shares by stock brokers. Individual investors are mostly helped by discount brokers. Other financial services that are provided include financial market utilities. Financial service infrastructure is greatly aided by these businesses. Other financial services include debt resolution. These services help individuals with too much debt to pay off. Most of these times these individuals want to avoid filing for bankruptcy. This debt is then accrued in various ways without limiting it to personal loans.