Financial stocks can be broken into several categories, including:Banks: Bank stocks make up the bulk of the financial sector.Insurance: The second-largest part of the financial sector is the insurance subsector, which includes property and casualty insurers, life and health insurers, specialty insurers, and insurance brokers.Financial services: Some companies provide services related to investing and the public markets without being classified as banks or insurers.Mortgage REITs: Companies that own mortgages and other financial real estate instruments.Fintech: Financial technology companies, or fintech, are those that leverage technology to create new solutions for the financial industry.SPACs: A special purpose acquisition company, or SPAC, is a company with no business operations that exists to take another company public.