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What are the 7 types of financial services?

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What are the 7 types of financial services?

Financial Services Institutions

  • Commercial Banks (Banking)
  • Investment Banks (Wealth management)
  • Insurance Companies (Insurance)
  • Brokerage Firms (Advisory)
  • Planning Firms (Wealth management, Advisory)
  • CPA Firms (Wealth management, Advisory)

What are the different types of financial products?

10 Types of Financial Services Offered in India

  • Banking.
  • Professional Advisory.
  • Wealth Management.
  • Mutual Funds.
  • Insurance.
  • Stock Market.
  • Treasury/Debt Instruments.
  • Tax/Audit Consulting.

What are the main financial products?

Contents

  • Securities. Stocks. Bonds. Mutual Funds.
  • Derivatives. Futures. Options. Swaps.
  • Commodities.
  • Currencies.
  • Final Thoughts.

What are examples of financial service sector?

Financial services sectors

  • Accounting.
  • Business banking.
  • Funds and investments.
  • Insurance.
  • Investment banking.
  • Life assurance and pensions.
  • Regulated advice.
  • Retail banking.

What are the 5 major services a bank provides?

Individual Banking—Banks typically offer a variety of services to assist individuals in managing their finances, including:

  • Checking accounts.
  • Savings accounts.
  • Debit & credit cards.
  • Insurance*
  • Wealth management.

What are the new financial products?

Recent financial innovations include hedge funds, private equity, weather derivatives, retail-structured products, exchange-traded funds, multi-family offices, and Islamic bonds (Sukuk).

What is considered a financial product?

Answer: A financial product is an instrument in which a person can either: make a financial investment (for example, a share); borrow money (for example, credit cards, loans or bonds); or. save money (for example, term deposits).

What are the products offered by banks?

Typical banking services offered by retail banks include:

  • Transactional accounts. Checking accounts (American English) Current accounts (British English)
  • Savings accounts.
  • Debit cards.
  • ATM cards.
  • Credit cards.
  • Traveler’s cheques.
  • Mortgages.
  • Home equity loans.

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