Financial assets are liquid assets, which get their worth from a contractual right or possession claim. Some of the best examples of financial assets are stocks, cash, bank deposits, mutual funds, and bonds. Unlike property, land, commodities, or other physical assets, financial assets often do not have natural physical value or a physical form. Slightly, their worth reflects aspects of supply and demand in the market wherein they trade and the level of risk they hold.
Usually, these liquid assets are later converted into something of worth, such as cash. Financial assets are also called financial instruments or securities. They are broadly used to finance properties and ownership of physical assets.
Here Israeli Lawyer Moshe Strugano (Attorney - Moshe Strugano and Co Law firm) explains financial assets in more detail