The financial services field is currently experiencing consolidation and convergence.If both of these trends continue,in the future we should observe
A)fewer financial institutions offering a narrower range of financial services products.
B)fewer financial institutions offering a wider range of financial services products.
C)more financial institutions offering a narrower range of financial services products.
D)more financial institutions offering a wider range of financial services products.

Question

Quizplus · Accepted Answer

The convergence of financial services means that financial institutions are offering a wider range of products than ever before, with traditional lines between banks, insurers, and investment firms blurring. Meanwhile, consolidation means that there are fewer overall financial institutions, but those that remain may offer a diverse range of services. Therefore, option B is the most likely outcome if both trends continue.

The Financial Services Field Is Currently Experiencing Consolidation and Convergence