Stock Brokers
When you plan any investment in shares or stock, you will feel the need of a stock broker who will trade in stock market on behalf of you. A stock broker is a regulated professional who buys and sell shares or other securities in stock market on behalf of investors. A stock broker must obtain a license through the Securities and Exchange Commission before he can legally buy and sell shares. In order to become eligible for this exam, the stock broker has to work in an investment brokerage for 4 months and he should have the sponsorship of an investment brokerage before applying for the exam.
Finding clients and building a client base is the most important part of the job. Stock brokers advise their clients and help to design their investment portfolios, based on their objectives. Most stock brokers provide service to individual investors, while others focus on institutional investors.
The role of a stock broker is much similar to of an investment advisor as he has to help their clients to buy and sell shares, bonds, shares in mutual funds, insurance annuities and other financial instruments. He has to advice the investors about tax planning, investments, estate planning, insurance and other financial matters. Many new stock brokers have to spend a lot of time on phone to build up a good client base. Many stock brokers join social organizations and give investment lectures through which they build their client base.
Applicants who are mature and have the ability to work independently are preferred and employers look for applicants who have a record of being successful in other jobs. It is important to have good interpersonal skills and a strong desire to succeed. Without a genuine interest in the stock market, a broker will not be successful. Because the demands and pressures in this career field are high, and only a true interest in the industry will motivate the financial counselor to excel.