In the financial services industry, there is a lot of inflow of money, owing to the fact that many individuals in society have invested their hard-earned money in it. With the financial services industry, you’re sure to build a booming business from the comfort of your own home. Therefore, when starting, it is best to look into the financial services industry if you are looking to build your own business from your home. Some of the reasons why you should consider the financial services industry are outlined below.
How big is the financial services industry?
According to the World Bank, the financial services industry is the biggest business sector in the world, spanning a wide variety of areas, from banks and insurance companies to credit cards and subprime loans. These companies can form large businesses on their own, but many of them choose to partner with other businesses for more fields of coverage and better services. Some of the most popular areas of financial services include banking, insurance, retirement planning, investments, lending, and much more. The market cap of the largest financial companies in the world is well over seven trillion dollars. It is so large that the top ten companies combined are more than the next forty combined! Many people don’t realize how big the industry is because we focus on the individual financial companies involved. From the size perspective of the financial services industry, if anyone gets into the industry and makes only 0.001% of 7 trillion dollars in his lifetime, it will be 70 million dollars.
Does the industry has enough demand?
There is more than enough demand for financial services products and services; the market is too big to fail. As such, potential customers are abundant, and an excess of potential revenue, so many opportunities exist for financial services companies to grow. These opportunities can be right on the doorstep, just waiting to be opened. Financial services are essential for the better functioning of the economy, and they are something that people need to survive and thrive. Financial services are like money in the bank; insurance and so on are essential for business entities and households. Yet, just talking about life insurance alone, only about 52% of Americans have some type of life insurance. Now imagine how many Americans need only one financial product, i.e., “life insurance”?
Can you become a financial professional?
People often think you need to go to school to be a financial professional when you don’t need any schooling to be a financial professional. Depending on what kinds of financial products and services you want to provide your clients, you need to get appropriate licenses and either work for an insurance agency or build your own business. Being a professional financial means that you have a client base and can educate on how to make investments, manage money, and handle budgeting. Many advise that you go to college before doing anything like this, but you don’t. If you want to build your own financial services business from your home without investing tons of money, prior experiences, and a college degree. Please register here for free to learn how people from all walks of life are living their dreams by building their financial services businesses leveraging the internet and technology.
If you’re like most people, you have a clear idea of what you’d like to do for a living. You may have a family tradition of working in finance or something you’ve always been interested in. On the other hand, you may have never thought about it. Whatever the case, it’s essential to look at all your options and determine whether or not the financial services industry is right for you.
Hopefully, this post might have given you some ideas about why you should consider working in the financial services industry. We would love it if you contacted our firm for further information about the career opportunities we provide or to schedule a visit with one of our financial professionals. Thank you for reading!
