Stockbroker - myFootpath

Stockbroker Basics
As financial investments serve as major sources of income for individuals, corporations, and institutions — stockbrokers provide valuable services to investors. Stockbrokers buy and sell stocks, bonds, and other financial products on behalf of their clients. They also provide advice on buying and selling, based on their knowledge of market trends.

This requires stockbrokers to constantly research analysts’ reports and to be familiar with the state of financial affairs in domestic and foreign markets. They must be able to communicate the advantages and disadvantages of investments, based on the clients’ objectives.

Finally, stockbrokers are often in charge of designing and managing clients’ investment portfolios. Brokers’ success will rely on the ability to build and maintain a strong client database.

How to get a Business Administration Degree
A Bachelor’s degree, typically with a concentration in business administration, economics, or finance. There are also state licensing requirements that brokers must meet. Most companies offer on-the-job training to prepare employees for exams and to meet certification requirements.

Compatible Personality Traits
Strong interpersonal and communication skills, ability to work independently, confident, mature, sales orientation, extremely driven and motivated, ability to manage stress and work in a fast-paced environment

Salary Expectations for a Stockbroker
The median salary for stockbrokers is approximately $70,000 with the middle 50% earning between $41,00 and $132,000.

Job Outlook for a Stockbroker
Employment opportunities are expected to grow between 9-17% through 2014. Factors that will affect job growth include an overall rise in individuals’ incomes, babyboomers reaching their peak saving years, globalization, and an increase in the number and intricacy of investment products.

Stockbrokers’ expertise and abilities will be in high demand to assist individuals’ investment growth. Individuals’ increasing ability to buy and trade stocks over the internet will somewhat reduce the need for stockbrokers.

Slightly off the Footpath
Insurance Sales Agent
Personal Financial Advisor
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Investment Banker
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Fund Administrator
Bank Manager