Stock values change daily, and stockbrokers must stay current with these changes. They sell stocks on behalf of companies to individuals with money to invest. Stockbrokers manage stock portfolios and try to help their clients earn profit from their investments. They must know how to analyze changes and alter selling and trading strategies to help clients and companies meet their goals.<\/p>\n
Ready to Get Started on the Path to Becoming a Licensed Stockbroker?<\/h2>\n
Stockbrokers must also know how to use stock monitoring software and graphing software. Common stockbroker software programs include MProfit, HyperStock, and Firstrade. Self-employed stockbrokers must also know how to successfully market their business and build a client network since this job is mostly commission-based.<\/p>\n
<\/p>\n
These salary differences, based on geography, are highlighted in the below map. Self-employed stockbrokers often complete additional job responsibilities. For example, they must know how to obtain new clients through advertisements and word-of-mouth marketing.<\/p>\n
How does a stockbroker compare to a financial advisor?<\/h2>\n
The SEC also works to protect investors and the integrity of capital markets. To get a feel for the job\u2014and to boost your resume\u2014consider getting a summer internship. You\u2019ll get hands-on experience and make connections that can help in your job search. When you\u2019re ready to start looking for a HIGH paying job, use Jobscan to speed up the process. There is nothing wrong with these securities, and the payout potential can be just as high as at a full-service firm. Working in a bank will come with a more casual atmosphere compared to a big wirehouse firm.<\/p>\n
<\/p>\n
Professionals seeking jobs in finance may choose to pursue a number of paths toward a career as a stockbroker. Course topics relate directly to the stockbroking field, including capital budgeting, corporate investing, and security analysis. Upon completion, students know how to make financial decisions and manage investments on behalf of a company. Individuals who want a more comprehensive educational experience can pursue an MBA. This degree includes courses pertaining to finance, and it also covers topics like marketing, management, human resources, strategic planning, and operations.<\/p>\n
Is this the right career for you?<\/h2>\n
It takes four hours to complete, and must be passed with a score of at least 60 percent. Examinations must be taken within 36 months of applying for securities registration. After passing the exam, CSC will mail examinees a wall certificate. A stockbroker generally works for a financial institution and spends most of his or her time in an office setting.<\/p>\n
<\/p>\n
A broker often spends a great deal of time keeping clients informed of variations in stock prices. Additionally, brokers spend a fair portion of their days looking to expand their client bases. They do this by cold calling potential customers and showcasing their background and abilities, or holding public seminars on various investment topics. If you’re having trouble deciding between a career as a Wall Street trader or stockbroker, you’ll want to fully understand the pros and cos of each.<\/p>\n
What Does a Stock Broker Do?<\/h2>\n
For this reason, experienced stockbrokers earn more than double that of entry-level professionals. Stockbrokers buy and sell stocks at the direction of their clients. Being a stockbroker requires sales and social skills since these professionals are responsible for building and advising their own client base. Some clients may not be familiar with the market, so it\u2019s up to the broker to assess the situation and explain their recommendations simply.<\/p>\n
<\/p>\n
In fact, it takes a specific set of skills to be successful in this field. All stockbrokers in Canada must pass, at a minimum, the CSC (Canadian Securities Course) exam. This examination consists of two parts and 100 multiple-choice questions.<\/p>\n
These firms typically offer a wider array of products and services and do not require their reps to sell proprietary products of any kind. They also usually offer much higher payouts on commission than full-service firms, and sometimes a warmer and friendlier atmosphere. However, they are usually only capable of giving back-office administrative support and don’t provide amenities such as office space.<\/p>\n
<\/p>\n