What does a Stock Broker do?

Question

Alright i know they invest in things so can you explain the basics of that to me.I wanna know how to become one,(I know they use math but how much and what kind),How much do they make, and is broker just a shorter term or something diffrent.

Answer 1

A good stock broker makes a good living and treats their clients like family. A decent broker makes $100,000 and up.

Their role is as a salesperson & financial consultant. That's not a bad thing... I only say it for further clairification. There are some bad brokers (there are bad doctors, police, bankers etc.). The bad brokers make it hard for the honest ones..........

Check with the larger brokerages to start. They'll be good for training (but not neccsarily the place you'll be in 5 years).

Some are;
Merrill Lynch
UBS
Edward Jones

This will be hard work. Long hours. Math is not the key ingrediant. Understanding the needs of your clients, salesmanship & financial planning are thec real "keys" to success.

I'm not a broker. But I think it would have been a great choice for me.

Answer 2

A stock broker sells or buys stock on behalf of a customer. The stock broker works as an agent matching up stock buyers and sellers. A transaction on a stock exchange must be made between two members of the exchange — a typical person may not walk into the New York Stock Exchange (for example), and ask to trade stock. Such an exchange must be done through a broker.

In addition to actually trading stocks for their clients, stock brokers may also offer advice to their clients on which stocks, mutual funds, etc. to buy.

It is important to remember that being a stock broker is a highly regulated industry. While you run your own business, you are required to do so within guidelines set by the federal government, New York Stock Exchange and the National Association of Securities Dealers. The rewards are great, but you must determine whether this career is right for you.

Answer 3

Most companies, don't use the term"stockbroker" anymore. It's now called "Financial Advisors"

Go to careerbuilders.com, there are lot of companies out there looking for Financail Advisors. The thing is that most of them, esp the top companies want you to have connections to wealthy people. I got a call from Morgan Stanley... That reminds me, I have to call them back.

I hope you have a financial degree and fair amout of investing experience.


I think being a stocktrader is much better. You don't have to find clients. All you do is trade in an office or stock exchange while the stockbroker/financial advisors look for clients. To be a stocktrader, start by applying for jobs as a trading assistant or a clerk. You can start by being an intern.

Answer 4

A stock broker buys and sells the stocks for their client. Most off it is done by computer now so most of the math is done for them. They can make a lot or a little it all depends on how many active clients they have. If you want to become one you will need a brokerage firm ro sponser you.

Answer 5

Being a stock broker is not easy. It's a sales job. You need to sale. Another thing is that you need to get licenses from NASD. They are not easy for most people. I have a degree in Finance, so it won't be hard for me. However, I know people that took it 3 times and still can't pass it.
They have to cold call to get clients. You can't count on your relatives unless they are rich and willing to help.
You can work for a discount brokerage as a salary broker. They do pretty well, but not rich. You help them buy and sell stocks that meet their financial goal.

Answer 6

It's true Stockbrokers are glorified salemen or telemarketers and they usually make six figures. In order to become a stockbroker you'll need to pass a difficult test called the series 7 and then your on the phones trying to open accounts for the company that hired you. Most companies will give you a shot and hire you and see if you can cold call and generate leads without any experience the biggest obstacle I see is pass the series 7 test 2nd only to the bar exam for lawyers.

Answer 7

the stock brokers lie to people and convincing them into buy crappy stocks and geting a pay check for the company they work for. kind of like being a telemarketer. and why would you want to be a stock broker? the only reason u should look into that profession..... is when u get fired from your telemarketing job or selling vacuum cleaners door to door.

Answer 8

I suggest you to request the FREE DVD "Wall Street" directed by Academy Award Winner Oliver Stone at Peerflix.

Answer 9

I know some who jump off bridges when the market goes bad.