Also, what school program do i have apply to in order to become a stock broker (I.E.-business, law, etc.)?
2007-06-13 05:28:14 · 2 answers · asked by onyxblue485 1 in Business & Finance ➔ Investing
The job descripiton for Stock brokers over the past 20 years has changed signficantly. Todays brokers are very similar to financial planners. They understand a little bit about alot of different types of things and they spend considerable time advising clients on WHERE and HOW MUCH to invest. This includes an understanding of estate, retirement, college education planning and traditional insurance products like life and long term health care. Selling is also a very important part of the job.
You also have to be an effective salesman which includes the art of closing. Learning about your products is not so hard but very few wannabe brokers know how to close a deal. (Make sure you can "close" before persuing a career as a stock broker).
A college business program is the best preparation. Courses in introductory accounting and investing are especially useful. As for brokerage firms, choose one with a long history of succes. There are many to choose from, Merrill Lynch, AG Edwards, UBS, Morgan Stanley, Goldman Sachs, etc. Good luck!!
2007-06-13 07:03:33 · answer #1 · answered by KhrisB 3 · 0⤊ 0⤋
A stockbroker simply solicits new clients for the firm they are working. The stockbroker industry has given way to the wealth management or financial advisor or financial planner.
Top firms are Merrill Lynch and Morgan Stanley. Obviously business school is your best bet. But make sure you can sell. Being an advisor is only 50% stock market skills, and 50% selling (cold calling, marketing, etc to get new clients).
In my opinion, get your MBA and CFA and become an analyst instead. Goldmann Sachs, Lehamn Bros. and Bear Stearns are the top firms.
2007-06-13 06:17:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋