What Companies Are In the Finance Field? [USA in Focus]

As there are many companies operating in the finance field, it can often get confusing—but we’re here to help clear things up! In this article, you’ll learn about what companies are in the finance field, what they do, and which are the largest ones in the USA. You’ll also find tips on how to choose a finance company that’s right for you, so read on!

What Are Finance Companies?

Finance companies are businesses that provide financial services to individuals, businesses, and other organizations. There are many different types of finance companies, each with its own specialized area of focus—for example, there are mortgage companies that help people get loans to buy homes or investment companies that help people invest their money short term or long term. Also, financial service companies offer various jobs, so if you were wondering whether finance is a good career path, you should consider getting into this field.

The wide range of financial services offered to clients by financial companies can include:

• Lending Money

Finance companies lend money to individuals, enterprises, and other organizations. The loans can be used for various purposes, such as buying a home or starting a business.

• Investing Money

Along with providing individuals with investment advice, finance companies invest money in different ways, such as buying stocks, bonds, and other investments.

• Providing Advice

Financial services companies provide advice on a variety of financial matters, such as how to save for retirement, how to reduce debt or whether investing is a good idea overall. They also offer financial planning services.

What Are the Types of Finance Companies?

There are many different types of finance companies, each with its own focus area. Some of the most common types of finance companies include:

• Central Banks

A central bank is a government-owned financial institution that manages a country’s money supply and interest rates. Central banks use monetary policy to influence the economy, and they can also act as a lender of last resort in times of financial crisis. The national finance company in the US is the Federal Reserve.

• Commercial Banks

Commercial banks are financial institutions that provide banking services to businesses and individuals. Commercial banks offer a wide range of services, including checking and savings accounts, loans, and credit cards. They also provide foreign exchange services, and can act as a financial advisor for their clients.

• Investment Banks

An investment bank is a financial institution that helps companies raise capital by underwriting and issuing securities. Investment banks also provide advice on mergers and acquisitions and often trade securities on behalf of their clients. They typically have two divisions: the corporate finance division and the markets division.

• Investment Companies

An investment company is a type of professional finance company that manages money on behalf of clients. Investment companies can be either public or private, and they typically invest in stocks, bonds, and other securities. Some investment companies also manage hedge funds, which are high-risk investments involving complex financial instruments.

• Mortgage Companies

A mortgage company is a financial institution that provides loans to homebuyers. Mortgage companies offer a variety of loan products, such as fixed-rate mortgages, adjustable-rate mortgages, and government-backed loans to cater to different homebuyers’ needs.

• Insurance Companies

Insurance companies are financial institutions that sell insurance policies. Whole life insurance, health insurance, and auto insurance are some of the policies these financial sector companies offer that protect policyholders from financial losses due to accidents, death, or other events. Customers pay premiums to the insurance company, and the company pays out claims to policyholders in the event of a covered loss.

• Internet Banks

Internet banks offer banking services online. They typically have lower fees than traditional banks, and often offer higher interest rates on savings accounts. Customers can manage their accounts online or through a mobile app, and they can typically make deposits and withdrawals at any ATM.

• Credit Unions

A credit union is a financial organization run by its members, as a mutual bank. Financial sector companies like credit unions offer a variety of services, including checking and savings accounts, loans, and credit cards. Credit union members typically share a common bond, such as working for the same employer or living in the same community.

• Brokerage Firms

A brokerage firm is a financial institution that buys and sells securities on behalf of its clients. Brokerage firms offer a wide range of services, including stock trading, mutual fund investing, and retirement planning. They also provide research and analysis to help their clients make informed investment decisions.

• Savings and Loan Associations

Savings and Loan Associations are financial service companies that provide loans for a variety of purposes, such as buying a home or starting a business. They also offer savings accounts and other financial services.

• Merchant Banks

A merchant bank is a financial institution that provides banking and financing services only to businesses. Services offered by merchant banks include lending, mergers and acquisitions, and capital markets. Merchant banks are often affiliated with a particular industry or sector.

What Companies Are in the Finance Field in the US?

The finance field in the United States is a large and diverse one, with many different types of companies offering a wide range of services. Here’s a brief overview of some of the largest financial services companies in the US:

• Visa 

Founded in 1958 and is headquartered in Foster City, California, Visa is a payment technology company that connects consumers, merchants, and financial institutions. Visa has assets of $277 billion and revenue of $22 billion.

• JP Morgan Chase 

JP Morgan Chase is a financial services company that provides banking, investing and lending services. Headquartered in New York, New York, JP Morgan Chase has assets of $2.7 trillion and revenue of $105 billion. It has more than 240,000 employees.

• Mastercard

Founded in 1966 and headquartered in Purchase, New York, Mastercard is a payment technology company that connects consumers, merchants, and other financial services companies. Mastercard has assets of $265 billion and revenue of $15 billion.

• Bank of America 

Bank of America has been around since 1904, making it one of the oldest banks in the US. It’s headquartered in Charlotte, North Carolina, and offers banking, investing, and lending services. With locations in all 50 states and over 210,000 employees, the bank has assets of $2.3 trillion and revenue of $91 billion.

• Wells Fargo 

Wells Fargo is one of the top financial companies in the US that provides banking, insurance, investments, mortgage, and consumer finance. It was founded in 1852 and is headquartered in San Francisco, California. With more than 265,000 employees, Wells Fargo has assets of $1.9 trillion and revenue of $86 billion.

• Morgan Stanley

Morgan Stanley is a leading global investment bank and wealth management firm, with over 55,000 employees in 36 countries. It was founded in 1935 and is headquartered in New York City. Morgan Stanley has assets of $875 billion and revenue of $37 billion.

• Berkshire Hathaway

Berkshire Hathaway is a conglomerate that owns insurance, railway transportation, energy production and distribution, manufacturing, and retailing companies. Although it makes the majority of profits from insurance, manufacturing generates the most pre-tax income. It was founded in 1839, is headquartered in Omaha, Nebraska, and is one of the top financial services companies in the USA. Berkshire Hathaway has assets of $627 billion, a revenue of $247 billion, and more than 367,000 employees.

• American Express

American Express is a multinational company that offers credit cards, charge cards, and travel-related services. It was founded in 1850 and is based in New York City. American Express has assets of $171 billion, annual revenue of $32 billion, and 10.9% market share.

• E-Trade Financial Corporation

E-Trade Financial Corporation is an American online discount stock brokerage firm that offers electronic trading of stocks, options, bonds, mutual funds, and ETFs. The company was founded in 1982 and is headquartered in New York City, with $56 billion in assets, and $2.9 billion in revenue.

• Charles Schwab

Charles Schwab Corporation is a national finance company that provides services such as banking, investing, and retirement planning to its clients. It’s headquartered in San Francisco, California, and was founded in 1971 by Charles Schwab, who’s still the chairman and CEO. The company has $3.3 trillion in assets and $11.4 billion in revenue.

Key Takeaways

Which Company Is Best to Work for in Finance?

There are a number of large and well-known finance companies in the US, but there’s no definitive answer as to which offer the best paying jobs in finance along with other attractive perks. However, some factors to consider include: company size, company location, company culture, and salary/benefits. According to many employee reviews, these are the names of the best financial services companies in the US that are great to work for:

1. Defense Finance and Accounting Service

The Defense Finance and Accounting Service (DFAS) is a finance and accounting service of the United States Department of Defense (DoD). DFAS provides payment processing and financial management services for the military departments, other defense organizations, and certain civilian agencies. They also provide centralized accounting, disbursing, payroll, treasury management, working capital fund administration and general finance and accounting services in support of the Department of Defense. The company’s employees state they’re highly satisfied with the work environment, the continuous learning, and the salary.

2. Discover Financial Services

Discover is one of the major finance companies that offer credit cards, banking, and investing products, as well as other financial tools to individuals and companies. It was founded in 1986 and is headquartered in Riverwoods, Illinois. With approximately 18,000 employees and $10 billion in revenue, the company offers employees a team-based atmosphere and a number of perks, including extensive insurance plans, 401(k) retirement plans, paid time off, and education aid. Some of the best-paid finance job roles in this company are a lead data analyst, senior analyst, and network engineer.

3. Obsidian Financial Services

Obsidian Financial Services is a financial services company located in New York City, and it offers FHA loans, VA loans, USDA loans, jumbo loans, and reverse mortgages. The company has a good reputation in the industry of financial companies in the USA, and is known as a great place to work. You’ll also want to be aware of the company’s flexible working hours, which include lunchtime and evening shifts. There’s also a daycare on-site for employees’ kids. Furthermore, as an employee at Obsidian, you get access to its Intranet Marketing Library, which includes several training courses to help you get started and advance your career.

4. Modern District Financial

The experts at Modern District Financial are financial planners who assist consumers with retirement preparations. Big finance companies of this type offer several services and programs to their clients, including tax planning, estate planning, and investment advice. Founded in 2006 and headquartered in San Francisco, California, Modern District Financial is a company known for great benefits and perks, as well as its commitment to diversity and inclusion. It’s also an innovative and modern company that’s always looking for new ways to improve its products and services, offering continuous learning to the employees.

5. J.D. Mellberg Financial

J.D. Mellberg Financial is a financial services company located in Tucson, AZ. The company offers a variety of services for retirement planning, including traditional IRA accounts, Roth IRA accounts, SEP IRA accounts, SIMPLE IRA accounts, and 401(k) accounts. Employees at J.D. Mellberg Financial are generally satisfied with their jobs, saying that J.D. Mellberg Financial is one of the financial companies in the USA that offers a rewarding employee experience, due to the countless opportunities to learn and improve your skills. Also, the company offers a great salary rate, even for entry-level jobs.

How to Choose a Finance Company That’s Right for You?

When looking for a finance company to work for, it’s important to consider your goals and what you want in an employer. Do you want to work for a large corporation or a smaller firm? Do you want to be involved in investments or simply handle the books? Consider your skills and interests when researching for the top financial companies to ensure you find the right fit.

Once you’ve narrowed down your search, take a look at the company’s website and read its mission statement to get a better idea of its rankings, values, and what they’re looking for in an employee. You can also research the company’s financial stability to make sure they’re a reliable employer.

Finally, reach out to your network of contacts to see if anyone knows someone who works at the company. It’s always helpful to get an insider’s perspective on what it’s like to work somewhere. With a little research, you can find the finance company that’s right for you.

Conclusion

The answer to “what are the types of finance companies” is a broad one, as there are many different types of finance companies out there—some may specialize in investment banking, while others focus on things like insurance or accounting. However, all these businesses share one common goal: to help people manage their money in a way that’s efficient and profitable. No matter what type of finance company you’re looking for, there’s sure to be one that fits your needs, so don’t be afraid to ask around or do some research online. With so many options out there, you’re bound to find the perfect financial partner for you.