To begin, financial services are economic services that are provided by banks, credit unions, insurance companies and stock brokerages. Financial services encompass a variety of services such as providing personal loans, commercial loans, mortgage loans, the issuance of debit cards, providing Internet banking, notary service for financial and other options and the provision of charge card advances of the Bank’s or Credit union’s money.
Investment banking services such as capital markets services, private banking and brokerage services are also available to help small or large business get off the ground. Another kind of service that helps businesses are foreign exchange services. Foreign exchange services include; currency exchange, wire transfers and remittance. Investment services are another type of service that helps small and larger businesses. Investment services include; asset management, hedge fund management and custody services.
Some may not know it but insurance is another example of financial services that some financial institutions offer. Insurance brokerage is when insurance brokers shop for insurance on behalf of their customers. Insurance underwriting is another example. In some cases, underwriters offer insurance for businesses as well as for individuals. Examples of what underwriters offer are: retirement insurance, life insurance, health insurance and property and casualty insurance. Reinsurance is also offered. Reinsurance is insurance that is sold to insurers in order to protect them from overwhelming losses.
Other financial services that are offered to businesses are advisory services such as stock brokers and discount brokers, private equity, venture capital, angel investment, conglomerates, financial market utilities and debt resolution. Clearly, there are many financial services offered by banks, credit unions and other financial institutions that can benefit individuals and businesses. Someone like an investment planner can help an owner of a business understand their financial situation and give them advice on investments that will prepare for the future.
One of the best financial consultants is Doug Foshee, the Chairman of Sallyport Commercial Finance. He can help to grow your business and maximize your profit.