Chapter 8 Other areas of financial services - Finance

FUND MANAGEMENTS

Where a firm creates an investment fund for its clients, which will enable those clients to invest together, sharing in any gains made or losses suffered. The investment decision will be made by the fund management firm

FOREIGN EXCHANGE

Is the result of international trade or international travel- the money held by one party needs to be exchanged into another currency before a transaction can be completed

INSURANCE

Method of managing risk

FINANCIAL PLANNING

Providing assistance to individuals, their families and businesses in organising their financial affairs to achieve their financial and lifestyle objectives.

ESTATE PLANNING

Contemplating how best to deal with any assets, such as investments and property, on death, and making arrangements so that these assets are distributed in accordance with the deceased's wishes.

FINANCIAL TECHNOLOGY

Is often referred to as Fintech. Technology is enabling more and more automation, particularly in the area of investment.