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Chapter 1
Career Opportunities in Financial Services
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Banking and related institutions:
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Loan officers evaluate and make recommendations with regard to installment, commercial real estate, and/or consumer loans. Retail bank managers run bank offices and supervise the programs offered by the bank to customers. Trust officers administer trust funds for estates, foundations, and business firms. Others offer financial services in personal financial planning, investments, real estate, and insurance.
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Personal financial planning:
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Financial planners, working independently or as employees, advise individuals with regard to the management of all aspects--budgeting, taxes, investments, real estate, insurance, and retirement and estate planning--of their personal finances and help them to develop a comprehensive financial plan that meets their objectives.
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Investments:
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Stockbrokers, or account executives, assist clients in choosing, buying, and selling securities. Securities analysts study stocks and bonds, usually in specific industries, and advise securities firms and their customers, fund managers, and insurance companies with regard to them. Portfolio managers build and manage portfolios of securities for firms and individuals. Investment bankers provide advice to security issuers and act as middlepersons between issuers and purchasers of newly issued stocks and bonds.
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Real Estate:
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Real estate agents/brokers list residential and commercial property for sale or lease, find buyers and lessees for listed property, show property, and negotiate the sale or lease of property. Appraisers estimate the market values of all types of property. Real estate lenders analyze and make recommendations/decisions with regard to loan applications. Mortgage bankers find and arrange financing for real estate projects. Property managers handle the day-to-day operations of properties to achieve maximum returns for their owners.
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Insurance:
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Insurance agents/brokers interview prospects, develop insurance programs to meet their needs, sell them policies, collect premiums, and assist in claims processing and settlement. Underwriters appraise and select the risks that their company will insure and set the associated premiums.
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