Finance and Insurance Industry Resources


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				Home > Industry Resources > Finance and Insurance Finance and Insurance Industry Resources Finance & Insurance – Sector Overview This part gives you a quick overview of this industry sector, the number of businesses that comprise the sector broken down into large and small businesses along with a discussion about some issues and challenges facing the businesses. Finance & Insurance - List of Businesses This section provides our readers with a listing of the businesses that are categorized under this industry classification. Finance & Insurance - Resource Directory A great tool put together painstakingly by our staff that identifies the major associations and organizations that serve the various businesses in this industry classification. Besides the name and website, you will also find a brief description about the organization. Our small business owners always thank us for putting this tool together – we are confident that you will find it useful as well. FINANCE & INSURANCE – SECTOR OVERVIEW The first step in determining how to write a business plan at Trident Consultants involves identifying the correct business sector to which our client’s business belongs. The finance and insurance sector is a vast industry classification as per the NAICS – North American Industry Classification System. It covers businesses like central banks, commercial banks, savings institutions, credit card issuers, consumer lenders, real estate credit, mortgage banking, securities brokerage, portfolio management, investment advice, insurance carriers, insurance agencies, mutual funds and many others. (A detailed listing of finance & insurance businesses has been included at the end of this page.) There are 739k larger businesses (with employees) in this industry sector that employ over 6.4 million people with a total payroll of $446 billion. On average the larger finance and insurance firms have at least 9 employees and the average income nationally for each of these employees is about $69k. In the small business world covering firms with no employees, there are 741k such finance and insurance firms with total gross receipts of $47 billion and the average annual income as reported by each firm of around $63k. The business plan for a small regional or local bank must include a mention of the serious competition that the financial services industry is currently facing. Smaller banks are able to compete by offering excellent customer service and the feel of a community bank and increasingly many clients look for that extra service – strategic activities like being involved in local community affairs can be a great way for smaller financial institution to carve our their own market niche. Investment advice and portfolio management in the small business world has seen tremendous growth in the past 3 decades and many professionals after putting in their time with larger firms decide to go out on their own and start small investment advisory businesses. A business plan for such an operation must take into account the possibility of customer lawsuits and the need for errors and omissions insurance along with the oversight and best practice requirements from regulatory agencies like the Securities and Exchange Commission. The business of providing residential and commercial real estate finance falls into the purview of mortgage brokers and a business plan for an mortgage brokerage firm must take into account the dependence on the general economy and real estate markets. The purchase and refinance of mortgages is largely dependent on a healthy demand for real estate and low interest rates. A change in either can dramatically affect the revenue generation models employed by these firms. A well written business plan must account for varying levels of economic activity particularly in the real estate sector. The insurance business is a highly fragmented business in our economy with over a 130,000 insurance agencies and broker offices. The largest 50 firms only control 20 percent of the market place and a good business plan for an insurance agency must recognize the advantages and disadvantages faced by an independent agency. Besides the obvious dependence on the general economy that affects the sale of new homes, cars, boats and new household formation, independent insurance agencies also have to compete with larger insurance company who employ direct sales forces to reach the client and undercut the agents. The insurance business also faces serious competition from banks and brokerages houses that are now able to offer insurance products thanks to the change in laws. Insurance agencies also suffer from a poor public image just like mortgage brokers and it takes a while before a new agency is able to get established and have a steady steam of customers. Business planning must account for this and make suggestions for business loans to cover the working capital requirements in the early stages of an agency. If you are starting a business offering finance & insurance services, or are already established but are looking to grow, secure a partner, venture capital or business loans, we would be happy to help. FINANCE & INSURANCE – LIST OF BUSINESSES The following is a list of the various businesses that fall under this industry sector: Finance and Insurance Monetary Authorities - Central Bank Credit Intermediation and Related Activities Depository Credit Intermediation Commercial Banking Savings Institutions Credit Unions Other Depository Credit Intermediation Non-depository Credit Intermediation Credit Card Issuing Sales Financing Consumer Lending Real Estate Credit International Trade Financing Secondary Market Financing All Other Non-depository Credit Intermediation Activities Related to Credit Intermediation Mortgage and Nonmortgage Loan Brokers Financial Transactions Processing, Reserve, and Clearinghouse Activities Other Activities Related to Credit Intermediation Securities, Commodity Contracts, and Other Financial Investments and Related Activities Securities and Commodity Contracts Intermediation and Brokerage Investment Banking and Securities Dealing Securities Brokerage Commodity Contracts Dealing Securities and Commodity Exchanges Other Financial Investment Activities Miscellaneous Intermediation Portfolio Management Investment Advice All Other Financial Investment Activities Trust, Fiduciary, and Custody Activities Miscellaneous Financial Investment Activities Insurance Carriers and Related Activities Insurance Carriers Direct Life Insurance Carriers Direct Health and Medical Insurance Carriers Direct Insurance (except Life, Health, and Medical) Carriers Direct Property and Casualty Insurance Carriers Direct Title Insurance Carriers Other Direct Insurance (except Life, Health, and Medical) Carriers Reinsurance Carriers Agencies, Brokerages, and Other Insurance Related Activities Insurance Agencies and Brokerages Claims Adjusting Third Party Administration of Insurance and Pension Funds All Other Insurance Related Activities Funds, Trusts, and Other Financial Vehicles Other Investment Pools and Funds Open-End Investment Funds Real Estate Investment Trusts Other Financial Vehicles Small Business Owner Resource Center Our Free Business Plan Samples are the blueprint for your success in securing financing or partnerships in small business. Articles on the Small Business Financing Sources, the Small Business Loan Basics, small business loans Checklist and SBA Loans are incredible sources of knowledge for the small business owner. Credit Report and Credit Score Analysis, how to Read a Personal Credit Report and all about Business Credit cover the intricacies of credit and are required reading for everybody. The Foundation Grant Directory is a free listing of sources for grants by state. The Business Loan Application covers every item you will need in your loan package and tells you how to get approved for business loans. Fire your loan broker and use our Free Business Loans Bank / Lender Directory to find every bank in the country lending to small businesses. If you are looking to start a business - look no further. Check out the Free Incorporation Guide discussion and the State Incorporation Resource Directory. No matter what industry you are a part of, you will find our Industry Resources section invaluable.

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Copyright 2008 © Trident Consultants, Inc. All Rights reserved. The Trident logo is a registered trademark of Trident Consultants, Inc. and it may not be used, downloaded, copied or distributed in any way.


English \| Español

		Business Plans \| Financing \| Business Credit \| Personal Credit \| Starting a Business

	Industry Resources \| Money From Foundations \| Order \| Clients \| Home \| About \| Contact
				Home > Industry Resources > Finance and Insurance Finance and Insurance Industry Resources Finance & Insurance – Sector Overview This part gives you a quick overview of this industry sector, the number of businesses that comprise the sector broken down into large and small businesses along with a discussion about some issues and challenges facing the businesses. Finance & Insurance - List of Businesses This section provides our readers with a listing of the businesses that are categorized under this industry classification. Finance & Insurance - Resource Directory A great tool put together painstakingly by our staff that identifies the major associations and organizations that serve the various businesses in this industry classification. Besides the name and website, you will also find a brief description about the organization. Our small business owners always thank us for putting this tool together – we are confident that you will find it useful as well. FINANCE & INSURANCE – SECTOR OVERVIEW The first step in determining how to write a business plan at Trident Consultants involves identifying the correct business sector to which our client’s business belongs. The finance and insurance sector is a vast industry classification as per the NAICS – North American Industry Classification System. It covers businesses like central banks, commercial banks, savings institutions, credit card issuers, consumer lenders, real estate credit, mortgage banking, securities brokerage, portfolio management, investment advice, insurance carriers, insurance agencies, mutual funds and many others. (A detailed listing of finance & insurance businesses has been included at the end of this page.) There are 739k larger businesses (with employees) in this industry sector that employ over 6.4 million people with a total payroll of $446 billion. On average the larger finance and insurance firms have at least 9 employees and the average income nationally for each of these employees is about $69k. In the small business world covering firms with no employees, there are 741k such finance and insurance firms with total gross receipts of $47 billion and the average annual income as reported by each firm of around $63k. The business plan for a small regional or local bank must include a mention of the serious competition that the financial services industry is currently facing. Smaller banks are able to compete by offering excellent customer service and the feel of a community bank and increasingly many clients look for that extra service – strategic activities like being involved in local community affairs can be a great way for smaller financial institution to carve our their own market niche. Investment advice and portfolio management in the small business world has seen tremendous growth in the past 3 decades and many professionals after putting in their time with larger firms decide to go out on their own and start small investment advisory businesses. A business plan for such an operation must take into account the possibility of customer lawsuits and the need for errors and omissions insurance along with the oversight and best practice requirements from regulatory agencies like the Securities and Exchange Commission. The business of providing residential and commercial real estate finance falls into the purview of mortgage brokers and a business plan for an mortgage brokerage firm must take into account the dependence on the general economy and real estate markets. The purchase and refinance of mortgages is largely dependent on a healthy demand for real estate and low interest rates. A change in either can dramatically affect the revenue generation models employed by these firms. A well written business plan must account for varying levels of economic activity particularly in the real estate sector. The insurance business is a highly fragmented business in our economy with over a 130,000 insurance agencies and broker offices. The largest 50 firms only control 20 percent of the market place and a good business plan for an insurance agency must recognize the advantages and disadvantages faced by an independent agency. Besides the obvious dependence on the general economy that affects the sale of new homes, cars, boats and new household formation, independent insurance agencies also have to compete with larger insurance company who employ direct sales forces to reach the client and undercut the agents. The insurance business also faces serious competition from banks and brokerages houses that are now able to offer insurance products thanks to the change in laws. Insurance agencies also suffer from a poor public image just like mortgage brokers and it takes a while before a new agency is able to get established and have a steady steam of customers. Business planning must account for this and make suggestions for business loans to cover the working capital requirements in the early stages of an agency. If you are starting a business offering finance & insurance services, or are already established but are looking to grow, secure a partner, venture capital or business loans, we would be happy to help. FINANCE & INSURANCE – LIST OF BUSINESSES The following is a list of the various businesses that fall under this industry sector: Finance and Insurance Monetary Authorities - Central Bank Credit Intermediation and Related Activities Depository Credit Intermediation Commercial Banking Savings Institutions Credit Unions Other Depository Credit Intermediation Non-depository Credit Intermediation Credit Card Issuing Sales Financing Consumer Lending Real Estate Credit International Trade Financing Secondary Market Financing All Other Non-depository Credit Intermediation Activities Related to Credit Intermediation Mortgage and Nonmortgage Loan Brokers Financial Transactions Processing, Reserve, and Clearinghouse Activities Other Activities Related to Credit Intermediation Securities, Commodity Contracts, and Other Financial Investments and Related Activities Securities and Commodity Contracts Intermediation and Brokerage Investment Banking and Securities Dealing Securities Brokerage Commodity Contracts Dealing Securities and Commodity Exchanges Other Financial Investment Activities Miscellaneous Intermediation Portfolio Management Investment Advice All Other Financial Investment Activities Trust, Fiduciary, and Custody Activities Miscellaneous Financial Investment Activities Insurance Carriers and Related Activities Insurance Carriers Direct Life Insurance Carriers Direct Health and Medical Insurance Carriers Direct Insurance (except Life, Health, and Medical) Carriers Direct Property and Casualty Insurance Carriers Direct Title Insurance Carriers Other Direct Insurance (except Life, Health, and Medical) Carriers Reinsurance Carriers Agencies, Brokerages, and Other Insurance Related Activities Insurance Agencies and Brokerages Claims Adjusting Third Party Administration of Insurance and Pension Funds All Other Insurance Related Activities Funds, Trusts, and Other Financial Vehicles Other Investment Pools and Funds Open-End Investment Funds Real Estate Investment Trusts Other Financial Vehicles Small Business Owner Resource Center Our Free Business Plan Samples are the blueprint for your success in securing financing or partnerships in small business. Articles on the Small Business Financing Sources, the Small Business Loan Basics, small business loans Checklist and SBA Loans are incredible sources of knowledge for the small business owner. Credit Report and Credit Score Analysis, how to Read a Personal Credit Report and all about Business Credit cover the intricacies of credit and are required reading for everybody. The Foundation Grant Directory is a free listing of sources for grants by state. The Business Loan Application covers every item you will need in your loan package and tells you how to get approved for business loans. Fire your loan broker and use our Free Business Loans Bank / Lender Directory to find every bank in the country lending to small businesses. If you are looking to start a business - look no further. Check out the Free Incorporation Guide discussion and the State Incorporation Resource Directory. No matter what industry you are a part of, you will find our Industry Resources section invaluable.

			Home \| About \| Contact \| Clients \| Order \| Privacy Policy \| Sitemap
Copyright 2008 © Trident Consultants, Inc. All Rights reserved. The Trident logo is a registered trademark of Trident Consultants, Inc. and it may not be used, downloaded, copied or distributed in any way.

Small Business Owner Resource Center