responsibilities, qualifications, skills, pay, basic job description, benefits, just anything about it
2006-11-27 03:43:59 · 4 answers · asked by some young person in school 1 in Business & Finance ➔ Investing
Depends on whether you are a retail broker or an institutional broker...
2006-11-27 04:10:59 · answer #1 · answered by NC 7 · 0⤊ 1⤋
If you are a retail broker (a stock broker for individuals) and not a financial planner or dealing with a insurance products, you would find individuals that have investible money. This money might be a small percent of their total investments since more and more people are buying open or closed end mutual funds or ETFs.
You would either research "the best" stocks or just take the stock recommendations from in-house analysts and sell those. You would need to know how much gain or loss the client could handle before selling out of the stock.
You'd need to take your NASD Series 7 & 63 or 66 stockbrokers license. It would help to either have a finance degree or a marketing degree. If you are analytical, you need to learn selling skills. If you are extroverted and non-analytical, you'd need to become numbers oriented and know economic concepts.
You would need to find and know enough people that will give you >$5 million of their money PER YEAR to be "successful" and add to your Assets Under Management (AUM).
Stockbrokers are a dying breed. More individuals are looking for Financial Planners/Advisors which means knowing a lot more than selling individual stocks.
Most of these jobs are 100% commission... "you eat only if you kill".
2006-11-27 04:26:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A stockbroker in simple terms solicits new consumers for the agency they are operating. The stockbroker marketplace has given thanks to the wealth administration or monetary consultant or monetary planner. correct corporations are Merrill Lynch and Morgan Stanley. of route corporation college is your proper guess. yet ascertain you may promote. Being an consultant is actually 50% inventory marketplace skills, and 50% promoting (chilly calling, promoting, and so on to get new consumers). for my section, get your MBA and CFA and develop into an analyst as a replace. Goldmann Sachs, Lehamn Bros. and undergo Stearns are the right corporations.
2016-11-27 01:40:30 · answer #3 · answered by faccone 4 · 0⤊ 0⤋
You gotta be a good sales person.
Networking, outgoing, friendly.
You'll need to drum up clients and convince them that you can provide some value by helping them manage their money.
2006-11-27 07:49:29 · answer #4 · answered by derek 4 · 0⤊ 0⤋