The financial services industry includes many professional firms that help individuals, small businesses, large corporations and even governments with the management of money. The industry covers everything from directly managing savings and investments to lending, insurance and the redistribution of risk. Many of these activities are regulated, licensed and overseen by government agencies at the local, state and federal level.

Banks, brokers and mortgage lenders are well-known examples of financial services. However, the industry also includes other providers of investment and lending services such as credit-card companies and financial market utilities (e.g. stock, commodity and derivative exchanges).

Some financial services are intended to promote economic growth. These include factoring and forfaiting companies that facilitate domestic and foreign trade. They make it possible for producers to increase sales by offering more credit at reasonable rates. This in turn leads to more production, employment, income and demand for products. Financial services also include the services of debt resolution companies that assist people with overwhelming debt.

The provision of these services is essential for the functioning of any economy. Without them, people would not be able to save for the future and invest in productive ventures. It is also difficult for people to meet their daily expenses without access to credit at reasonable rates. Financial services ensure that the profits made by entrepreneurs are sufficient to pay back their loans and cover their operating costs. This creates a cycle of investment, production and consumption that benefits all stakeholders in the economy.