"Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions."
Types of financial institutions, services offered, and how to choose the right one.
Banking: Understanding the types of accounts offered by banks, how to open and manage bank accounts, and the benefits of using banks.
Credit: Understanding the different types of credit, how to build credit, and how to manage credit responsibly.
Debt: Understanding the different types of debt, how to avoid debt, and how to manage debt.
Budgeting: Understanding how to create and manage a budget, and how to effectively manage money.
Investing: Understanding the types of investments and how to make informed decisions about investing.
Retirement: Understanding retirement planning, including investments, savings plans, and Social Security.
Taxes: Understanding how taxes work, how to prepare taxes, and how to maximize tax benefits.
Insurance: Understanding the different types of insurance, and how to make informed insurance purchase decisions.
Fraud and Scams: Understanding common financial scams and how to protect against them.
Consumer Rights: Understanding consumer rights, including the right to privacy, the right to dispute credit report errors, and the right to file a complaint with regulatory agencies.
Financial Planning: Understanding the value of financial planning, and how to create and implement a financial plan.
Estate Planning: Understanding the basics of estate planning and the importance of having a will, trust, or other important documents in place.
Risk Management: Understanding risk management strategies, including insurance and diversification.
Savings Strategies: Understanding the importance of saving money, and different strategies for saving money effectively.
Commercial Banks: Financial institutions that offer a wide range of services to individuals and businesses, such as checking and savings accounts, loans, and mortgages. They are typically regulated by the government.
Credit Unions: Non-profit financial institutions owned by its members who share a common bond, such as living in the same community or working for the same employer. They offer similar services to banks but often with lower fees and interest rates.
Investment Banks: Financial institutions that specialize in providing services to large corporations and governments, such as underwriting securities offerings, assisting with mergers and acquisitions, and providing advice on corporate finance.
Brokerage Firms: Financial institutions that facilitate the trading of securities such as stocks, bonds, and mutual funds, for individual investors.
Insurance Companies: Financial institutions that provide insurance policies to individuals and businesses for protection against financial losses due to unforeseen events.
Mutual Funds: Investment companies that pool the funds of many investors to purchase a diverse portfolio of securities, with the goal of achieving high returns while managing risks.
Hedge Funds: Private investment firms that invest in a wide range of assets, with the aim of achieving high returns for their investors. They are typically only available to accredited investors.
Venture Capital Firms: Financial institutions that provide funding and support for start-up companies, with the aim of achieving high returns on their investment.
Private Equity Firms: Financial institutions that invest in and acquire ownership stakes in private companies, with the goal of improving their performance and achieving high returns on their investment.
Pension Funds: Financial institutions that manage retirement savings on behalf of individuals and organizations, typically investing in a diverse range of assets with a focus on long-term returns.
"Depository institutions, contractual institutions, and investment institutions."
"Banks, building societies, credit unions, trust companies, and mortgage loan companies."
"Insurance companies and pension funds."
"Investment banks, underwriters, and other different types of financial entities managing investments."
"Commercial banks and cooperative banks."
"Some experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies."
"A consequence of this might be fewer banks serving specific target groups, and small-scale producers may be under-served."
"To improve the regulation and monitoring of global financial institutions and strengthen such regulations."
"Depository institutions are deposit-taking institutions that accept and manage deposits and make loans."
"Insurance companies and pension funds."
"Investment institutions are primarily involved in managing investments."
"Examples of depository institutions include banks, building societies, credit unions, trust companies, and mortgage loan companies."
"Contractual institutions include insurance companies and pension funds."
"Investment institutions encompass investment banks, underwriters, and other different types of financial entities managing investments."
"Commercial banks and cooperative banks have different ownership structures."
"The purpose of Goal 10 is to improve the regulation and monitoring of global financial institutions and strengthen such regulations."
"Financial institutions are business entities that provide services as intermediaries for different types of financial monetary transactions."
"Depository institutions include banks, building societies, credit unions, trust companies, and mortgage loan companies."
"Some examples of investment institutions are investment banks, underwriters, and other different types of financial entities managing investments."