Financial services help people put their money to work—whether it’s saving for a home or a new car, investing in the next great technology or business, or covering health and property losses through insurance. These intermediaries channel cash from savers to borrowers, and they redistribute risk by pooling funds (like putting assets in a mutual fund) and by leveraging economies of scale to lower costs and improve liquidity.

The financial services sector includes thousands of depository institutions, providers of investment products, insurance companies, credit and financing organizations, and the critical utilities that support them all. It also encompasses global payment providers like Visa and Mastercard, and the exchanges that facilitate stock, derivatives, and commodity trades.

While the industry has evolved rapidly over time to keep pace with technological advances, it’s still battling widespread lack of understanding of financial products and services, chronic debt, and basic money management. Its future depends on building customers’ financial wellbeing. To do that, it’ll need to find the right balance between regulating enough to protect consumers and uphold transparency while allowing innovation to thrive. This will require an industry that embraces diversity and inclusion, values ethics, and puts its clients at the center. It will also need to be more alert to the effects of stress on its employees. Currently, it’s not uncommon for financial services workers to put in 16-to-20-hour days. This can lead to burnout, which could in turn impact their own financial wellness.