Financial Services

Financial services

Whether you’re an individual looking for a financial product, or an organization looking for a service, there are many options to choose from. With so many choices, it’s important to choose the one that is right for you.

Retail banking

Whether in a physical location or online, retail banking is a service that helps individuals and small businesses handle their financial needs. The services can include checking and savings accounts, credit cards, home loans, mortgages, and investments. It is also known as consumer banking.

The retail banking industry has changed a great deal in the past two decades. Consumers expect a wide variety of services from their retail bank. The biggest trend in retail banking is the move to mobile banking.

Retail banking is the first access point to the financial services industry. Banks are adding new services and features to keep customers happy. These services include personal and business loans, investments, and retirement planning.

Banks are also offering more features to help consumers manage their money. These services include online banking, mobile banking, and mobile apps. Consumers are also demanding more intuitive experiences.


Using robo-advisors to manage your investments can be a great way to save time and money. It can also help you stick to your portfolio’s asset allocation and keep your investment goals in sight. However, if you have complicated finances or have multiple goals, it may be best to work with a dedicated investment professional.

Robo-advisors are online services that use software to create and manage investment portfolios. They are typically accessed via a provider’s website or through a smartphone app. They charge a fee, usually between 0.25% and 0.5% of your assets. This advisory fee is in addition to the fees you pay to exchange-traded fund (ETF) companies and mutual fund companies.

A recent study by Scottrade Advisor Services found that young, low-asset, high-risk investors are most interested in robo-advisors. RIAs with $10 to $100 million in assets under management are more likely to view robo-advisors as competition, while RIAs with $500 million or more in assets under management are more likely to see robo-advisors as complementary.


Among the financial services industry’s many offerings is an insurance category. As such, insurance is a requisite in the pursuit of wealth. For instance, insurance companies provide protection against loss or theft of cash or property. Insurance companies also provide insurance for personal risks such as health and life. Insurance providers also offer coverage for commercial properties such as retail stores, restaurants, hotels, and other small businesses. Insurance companies operate in a business environment that is subject to rapid evolution and change. Insurance providers are required to carry appropriate insurance in varying amounts in order to meet statutory requirements. Insurance companies also have to demonstrate that they are doing business in a fair and orderly manner. To ensure that these firms maintain a level of professionalism, insurance providers are required to hold licenses issued by state and territory governments, as well as by the Australian Business Licence and Information Service.