financial-services

Vocabulary Word

Definition

'Financial services' are services provided by businesses in the finance world, like banks, insurance firms, or investment companies. They cover things like loans, money transfer, wealth management, insurance policies and more.

Examples in Different Contexts

Financial advisory, a sector within 'financial services', offers guidance on investments, budgeting, and financial planning for individuals and corporations. A financial advisor might say, 'Our financial advisory services aim to help you achieve your long-term financial goals.'

Practice Scenarios

Academics

Scenario:

Student loan debt is an increasing concern. We need to explore strategies for sustainable financial management for students.

Response:

I believe a module on financial services and responsible borrowing could be invaluable for students.

Public-Policy

Scenario:

The level of complexity in insurance markets poses a challenge for effective consumer protection.

Response:

We need to enforce stricter regulations on financial services providers to protect consumers.