The term "financial services" became 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 companies operating in the U.S. financial services industry at that time to merge.

Companies usually have two distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g., in Japan), non-financial services companies are permitted within the holding company.

In this scenario, each company still looks independent, and has its own customers, etc. As for 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 customers, with incentives for combining all things with one company.

Degginger McIntosh & Associates as an organization has partnered with a number of outstanding Financial Advisors that can meet your specific needs. Our goal as a brokerage is always reliant upon providing options for our customers. This holds true for financial services as well.


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