Define financial industry

Financial Industry , Financial Sector, Finance Industry. What are finance industries? An industry is a subdivision of a market sector and includes companies producing the same or similar goods and services.

These companies often compete with each other for customers and investors. For example, within the consumer staples sector, companies that manufacture household appliances, such as dishwashers and refrigerators, are part of the same industry. This sector comprises a broad range of industries including banks, investment companies, insurance companies, and real estate firms.

Large conglomerates dominate this sector, but it also includes a diverse range of smaller companies. According to the Finance and Development department of the International Monetary Fund (IMF),. It also provides small businesses, large companies, nonprofits and even the government with the necessary financial services.

Let’s start with the well-known sector of banking. See all full list on thebalancecareers. Go through the glossary of financial terms and know the meaning of all financial terms through their definitions here at The Economic Times. Never miss a great news story! Dictionary Mutual Fund A mutual fund is a type of investment vehicle consisting of a portfolio of stocks , bonds , or other securities , which is overseen by a professional money manager.

But what is the financial services industry exactly?

It involves so many aspects of our finances, so let’s take a look. This glossary of finance terms can help prepare you for conversations in the industry , job interviews and more by empowering you with the financial knowledge necessary to understand the basics of the finance interview. Turn to this glossary for definitions of the terms and abbreviations that really matter in this business. The finance industry encompasses a broad range of organizations that deal with the management of money.

No more so than in the world of finance. You are what you say and what you understand. The better you grasp the meaning of financial terms, the better you can communicate and the more transparent becomes the vast, exciting and potentially profitable world of money.

By the same token, words can obfuscate. Examples are the Banks, investment banks, insurance companies, credit card companies and stock brokerages. This may be handled by either a government or non-government organization.

This section provides information relating to employment and unemployment in financial activities. While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households. The following tables present an overview of the industry including the number of jobs, the. A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds , and precious metals.

The term market is sometimes used for what are more strictly exchanges , organizations that facilitate the trade in financial securities, e. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise. A forecast of future revenues and expenses for a business, organization, or country.

Any attempt to deceive another for financial gain. A clear example of fraud is selling a new issue that does not really exist. That is, the company can collect money from investors an rather than use it to finance operations, pocket the money and do nothing. Economics) organized economic activity concerned with manufacture, extraction and processing of raw materials, or construction.

Commerce) a branch of commercial enterprise concerned with the output of a specified product or service: the steel industry.