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A Stockbroker manages the financial portfolio of a client who can be an individual or a company.
On the advice of investment analysts, a Stockbroker discusses with the client which shares to buy or sell to get them the best return on investment. In turn, Stockbrokers will get a sum of commission whenever a transaction they handle is successfully made. According to industry observers, Stockbrokers are the fastest growing occupation with strong income growth potential in the next few years. A growing number of households now own stocks, and the number of new investors grows dail...
On the advice of investment analysts, a Stockbroker discusses with the client which shares to buy or sell to get them the best return on investment. In turn, Stockbrokers will get a sum of commission whenever a transaction they handle is successfully made. According to industry observers, Stockbrokers are the fastest growing occupation with strong income growth potential in the next few years. A growing number of households now own stocks, and the number of new investors grows daily. Despite these individual investors are only a minority in the total number, the increasing nation’s increasing interest in owning securities will tremendously increase the number of Stockbrokers and investment advisors. Therefore, if you have a knack for all these stocks, rates and investment stuffs, you are an ideal person to pursue this career!
Good earning potential
High job security
Career advancement opportunities
High stress and long hours of work
Sometimes you will have to deal with irate clients
Health of the market impacts your finances
Research the market
Review client’s portfolio
Advise client about risks
Know the current tax and financial legislation
The stocks increasing and dropping, the market will be prospering or collapsing, which stock is better to be invested or avoided, you should have all the information. With that said, you will need to convey these messages clearly to your clients and give them advice on which is the best action or decision to be made. Not only that, you will need to be able to stay calm when you are dealing with irate clients or stop them from making impulsive investments.
Able to understand and analyse information
Sometimes, whatever happens in the market will bring a ripple or domino effect, possibly affecting relevant stocks and whatnot. You will need to be very analytical to prevent or minimise losses of your clients. Getting these information and thoroughly understanding them are crucial to make the next move.
Making wise decisions under pressure
The situation of the market changes like the lightning. Blink an eye and you might miss something or come face-to-face with an urgent situation. During these extremely pressuring moments, you must be able to think rationally and calmly, strategising a solution to solve the issue or at least, prevent for more losses.
In order to be a Stockbroker, you must at least possess a bachelor’s degree in Finance Management, Economics, Accounting, Business Administration or any of related field. It is not necessary to have a master’s degree but it is advisable to pursue one to advance in the career. Candidates with Master of Business Administration (MBA) will be sought after and even be entitled with hiring bonuses and higher salaries.
The working hours of a Stockbroker differs depending on the client or your very own schedule. One thing for sure, the working hours will be long and irregular. Since trading starts early, usually Stockbrokers start their day as early as possible. Your working time will also differ if your clients are from overseas..
May 28, 2020
May 25, 2020