Stockbroker Job Description
A stockbroker is a person who buys or sells stocks, shares, and other securities for clients in exchange for a commission. Their job involves analyzing and monitoring the stock market, buying and selling shares and other securities on behalf of their clients, and making recommendations and providing advice to the clients based on analyst research.
A stockbroker should be quick-thinking, attentive, patient, proactive, confident, friendly and helpful, and have the ability to make good judgments and initiate trades in the best interests of their clients. They should have strong sales and communication skills, and the ability to deal with people and handle rejections in a positive manner.
What does a Stockbroker do?
Stockbrokers may do some or all of the following:
- find clients and build a customer base
- monitor stock market developments and stay up-to-date with currents events in the market
- analyze and monitor the investments of their clients
- interpret financial reports and make recommendations to their clients
- advice clients on which shares to buy or sell and when to do the transactions
- trade stocks on electronic networks
- execute buy or sell orders on behalf of their clients
Where does a Stockbroker work?
Stockbrokers usually work normal office hours, but may sometimes work weekends and evenings to fit in with their clients’ schedules. They work in offices. Their job may be stressful because of the level of accuracy required.
What is Required to Become a Stockbroker?
There are no standard educational requirements to become a stockbroker, but most employers will prefer to hire candidates with a degree in accounting, economics, business, finance, mathematics or a related discipline. Employers provide on-the-job training for new recruits.
Knowledge, Skills and Attributes
Stockbrokers need to have:
- honesty and reliability
- good attention to detail
- good interpersonal skills
- good judgment and decision making skills
- good listening and communication skills
- critical and analytical thinking skills
- math and computer skills
- negotiation and sales skills
- organizational skills
- multitasking skills
- research skills
- the ability to work well under pressure
- the ability to keep information confidential
- knowledge of economics
- knowledge of the principles of finance and investment
- knowledge of the stock market rules and regulations
- knowledge of customer service principles
Should I be a Stockbroker?
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