About Financial Services
The term Financial services can refer to a variety of fields. The most general definition of Financial Services refer to services provided by the finance industry. The finance industry is defined as a broad range of organizations that deal with the management of money. Most common among these organizations are investment funds, insurance companies, banks, credit card companies, consumer finance companies, stock brokerages, and some government sponsored enterprises. Historically, financial services industry represented 20% of the market capitalization of the S&P 500 in the United States. The atual term "financial services" has become more prevalent in modern language as a result of the Gramm-Leach-Bliley Act of the late 1990s, which allowed different companies operating in the U.S. financial services industry at that time to merge. The term Financial Services is synonymous with the following terms: Finance Industry, Finance, Banking, Insurance and Real Estate, Investment Services, Wealth Management, Investment Management, Auditors, and Insurance.
