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Financial services refer to services provided by the finance industry. The finance industry enpasses a broad range of organizations that deal with the managent of money. Among these organizations are credit unions Wallace Gilberry Jersey , banks, credit card panies, insurance panies, consur finance panies, stock brokerages, investnt funds and so ent sponsored enterprises. As of 2004 Marvin Jones Bengals Jersey , the financial services industry represented 20% of the market capitalization of the S&P 500 in the United States. The term "financial services" beca more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of panies operating in the U.S. financial services industry at that ti to rge.[2] Companies usually have o distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance pany or an investnt bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding pany simply to diversify its eaings. Outside the U.S. (e.g., in Japan), non-financial services panies are permitted within the holding pany. In this scenario Marvin Jones Womens Jersey , each pany still looks independent, and has its own custors, etc. In the other style, a bank would simply create its own brokerage division or insurance division and attempt to sell those products to its own existing custors, with incentives for bining all things with one pany.A "rcial bank" is what is monly referred to as simply a "bank". The term "rcial" is used to distingui it from an "investnt bank," a type of financial services entity which Marvin Jones Authentic Jersey , instead of lending money directly to a business, helps businesses raise money from other firms in the form of bonds (debt) or stock (equity).Private banking - Private banks provide banking services exclusively to high net worth individuals. Many financial services firms require a person or family to have a certain minimum net worth to qualify for private banking services.[3] Private banks often provide more personal services, such as wealth managent and tax plaing, than normal retail banks.Capital market bank - bank that underwrite debt and equity, assist pany deals (advisory services, underwriting and advisory fees) Marvin Jones Jersey , and restructure debt into structured finance products.Bank cards - include both credit cards and debit cards. Bank Of Arica is the largest issuer of bank cards.[citation needed] Credit card machine services and neorks - Companies which provide credit card machine and paynt neorks call themselves "rchant card providers".Asset managent - the term usually given to describe panies which run collective investnt funds. Also refers to services provided by others, generally registered with the Securities and Exchange Commission as Registered Investnt Advisors.Hedge fund managent - Hedge funds often employ the services of "pri brokerage" divisions at major investnt banks to execute their trades.