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Types of Financial Services

Financial services are described as the economic services that are provided by the finance industry. Any business that manages money is actually included in this case. The businesses included in this case are banks, credit unions, insurance companies and so much more. All these businesses conduct their own type of financial services. A major function is that they keep money safe until when withdrawals are actually needed. They also issue chequebooks so that bills can be paid. They also provide clients with personal loans, commercial and mortgage loans. Standing orders and direct debits are also provided in this case. They ensure that all their branches actually offer financial transactions.

Investment services are also other financial services offered. In this case there are private banks that provide banking services. High net worth individuals are the ones that benefit most from these services. The services that are actually provided are personal. Tax planning and wealth management are these services. Brokerage services are other financial services offered. Buying and selling of financial securities is normally facilitated by these services. This is normally between buyers and sellers. Other financial services offered include capital market services. These underwrite debt and equity to assist companies in their deals. They also help with mergers, acquisitions and restructuring debts.

Other financial services offered include currency exchange. Clients are normally allowed to easily purchase foreign currency bank notes in this case. They have the authority to sell these bank notes after they buy them. Wire transfer is among other financial services that are actually offered. In this case clients are able to send money to international banks. Remittance are other financial services offered. Migrants are the ones that benefit from these services mostly. This means they can actually send money to their home countries because of these services.

Investment management are other financial services that are offered. These are businesses that help in running of collective investment funds. These services are able to create capital through client investments. Other financial services include hedge fund management. Major investments use hedge funds to execute their trades. Other financial services offered include custody services. Custody services are normally safekeeping and processing of the worlds security trades. They also help in servicing other associated portfolios. Advisory services are other financial services offered. These services involve stock brokers and discount brokers. Stock brokers are the ones that help investors buy and sell shares. Discount brokers offer their help to individual investors. Other financial services that are provided include financial market utilities. These businesses are inclusive in the infrastructure of financial services. Debt resolution are other financial services that are offered. Debt resolution services greatly help individuals in clearing their extreme debts. Mostly these individuals want to avoid filing bankruptcy. This debt is then accrued in various ways without limiting it to personal loans.

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