The Financial Services Sector.

Companies in the financial services industry are in the business of managing money. Globally, the financial services industry leads the world in terms of earnings and equity market capitalization. Large conglomerates dominate this sector, but it also includes a diverse range of smaller companies.

Key Takeaways Financial services are an increasingly influential sector of the modern economy. Financial services refers to a broad range of more specific activities such as banking, investing, and insurance. • Financial services is limited to the activity of financial services firms and their professionals while financial products are the actual goods, accounts, or investments they provide.

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Consider a financial advisor. The advisor manages assets and offers advice on behalf of a client. The advisor does not directly provide investments or any other product. Instead, the advisor facilitates the movement of funds between savers and the issuers of securities and other instruments. This service is a temporary task rather than a tangible asset..

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Banking Services .

  • Commercial banking services are the foundation of the financial services group. The operations of a commercial bank include the safekeeping of deposits, issuance of credit and debit cards, and the lending of money. The banking industry is most concerned with direct saving and lending while the financial services sector incorporates investments, insurance, the redistribution of risk, and other financial activities. Banks earn revenue primarily on the difference in the interest rates charged for credit accounts and the rates paid to depositors. Financial services like these primarily earn revenue through fees, commissions, and other methods like the spread on interest rates between loans and deposits.
    An investment bank typically only works with deal makers and high-net-worth clients, not the general public. These banks underwrite deals, secure access to capital markets, offer wealth management and tax advice, advise companies on mergers and acquisitions, and facilitate the buying and selling of stocks and bonds. Financial advisors and discount brokerages also occupy this niche.

  • Investment Services .

  • Individuals may access financial markets like stocks and bonds through investments services. Brokers (either human or self-directed on line) facilitate the buying and selling of securities and take a commission for their service. Financial advisors may charge an annual fee based on assets under management and direct several trades in the pursuit of constructing and managing a well-diversified portfolio. Robo-advisors are the latest incarnation of financial advice and portfolio management, with fully-automated algorithmic portfolio allocations and trade executions.
    Hedge funds, mutual funds and investment partnerships invest money in the financial markets and collect management fees in the process. These organizations require custody services for trading and servicing their portfolios, as well as legal, compliance and marketing advice. There are also software vendors that cater to the investment fund community by developing software applications for portfolio management, client reporting and other back-office services.

  • Insurance Services .

  • Insurance is another important sub sector of the financial services industry. In the United States, an insurance agent differs from a broker. The former is a representative of the insurance carrier, while the latter represents the insured and shops around for insurance policies. This is also the realm of the underwriter, who assesses the risk of insuring clients and also advises investment bankers on loan risk. Finally, re insurers are in the business of selling insurance to the insurers themselves to help protect them from catastrophic losses.
    Hedge funds, mutual funds and investment partnerships invest money in the financial markets and collect management fees in the process. These organizations require custody services for trading and servicing their portfolios, as well as legal, compliance and marketing advice. There are also software vendors that cater to the investment fund community by developing software applications for portfolio management, client reporting and other back-office services.
    Insurance services are available for protection against death or injury (e.g. life insurance, disability income insurance, health insurance), against property loss or damage (e.g. homeowners insurance, car insurance), or against liability or lawsuit - among several other more targeted classifications.

  • Introduction:
    It seems like the same and people get confused in these words. Both are related to finance but the target market for both is different.
    Micro finance is specially framed for the need of an individual, a small industry or any type of small business unit.

    Macro finance is designed for the large section of the economy like big business corporations or a whole economy
    Micro finance
    A micro finance is a narrow concept which includes the various services like micro credit, micro savings, micro insurance and many more schemes.
    The purpose of micro finance is to help the small section of a society like low-income level people or a below poverty line who are not able to serve their needs just because of unavailability fund.
    Those who are not able to take a financial help by the conventional way of putting a security as a guarantee.
    A micro finance helps people to start their own business by proving finance with a low rate of interest and help to make them independent
    Macro finance
    Macro finance is a broad concept and works on a large scale and its advantages are widespread.
    Macro finance is an initiative which deals with the large section of an economy and covers all the financial need and how to provide it to the needed one.
    A macro finance includes the drafting policy, subsidies, multi-year expansion plans.
    The main aim of macro finance is to help an economy to grow and to generate employment and expand an economy.
    A government provides macro finance in any form to the business like tax benefits or a subsidy because it will benefit the economy in future