Being a stock broker is a great choice for those out there that are risk takers and want to pursue a career in finance. There are no set educational qualifications to become a free-lance broker, but most employers will want you to have a degree, or even post-graduate achievement like the MBA or MSc. A deep understanding of financial laws and regulations, accounting methods, principles of economics and currency, financial planning and financial forecasting are necessary to ensure success in the field.
It is very important for a stockbroker to feel comfortable with making a lot of decision very quickly.
In the United States, the designation “Registered Representative” is obtained by passing the General Securities Representative Exam, also known as the “Series 7 exam,” offered by the Financial Industry Regulatory Authority (FINRA). Applicants must also be employed with a registered brokerage firm.
Mostly working in big, chaotic offices, you spend most of your work day on the phone and computer looking after any changes that impact companies, industries or the financial market and informing them back to your clients. The main objective is to take care of your client’s financial portfolio whether it be a company, or an individual by informing them on which shares to buy or sell in order to achieve the best return of investment. In order to do so, you are required to be a quick thinker, and not be afraid to make risky decisions. It is important to understand how businesses work with each other and how political and government policies can impact businesses.
Progression in this career is great, with enough experience and time put into the job, you could work your way up to be a fund manager, consultant, and an account manager.