ELI5: Explain Like I'm 5

Financial services

Financial services help people manage their money. They are different kinds of services that include banks, investment companies, insurance, and investment advisors. Banks are businesses that let people store their money in accounts, make payments, and borrow money. Investment companies help people buy and sell stocks, bonds, and other investments. Insurance companies protect people from financial losses. Investment advisors help people decide how to invest their money so that it can grow.