Stock Broker Profile and Description
Stock brokers are professionals who execute buy and sell orders of securities like shares, bonds etc. on behalf of their clients. They must have the correct price information about the said financial instruments. The challenge for all stock brokers is to increase their client base by providing better services and correct guidance on shares and other that will fetch the maximum returns.
While the job is well paying, there’s enough struggle involved at the starting of the career. Stock brokers can work independently or find employment with investment firms, banks and brokerage firms.
Stock Broker Duties and Responsibilities
The core duties and responsibilities that a stock broker must perform comprises the following:
- Broking, servicing, underwriting and managing the assigned accounts.
- Assigned service and production goals and measurement for attaining both.
- Underwriting individual insurance applications covering both property and casualty with the guidelines that are set for issuance of policies on substandard or standard basis.
- Determining whether to modify or accept a buy or sell order via risk evaluation.
- Has a frequent contact with the field for collecting information on information for defending broking decisions.
Stock Broker Skills and Specifications
The important skills and specifications that a stock broker is supposed to have are as follows:
- Good interpersonal and communication skills.
- Thorough knowledge about the equity markets and the stocks that fetch the best returns.
- Ability to advice clients on buy and sell orders.
Stock Broker Education and Qualification
Important educational qualifications that are required from stock broker should include the following:
- Bachelor’s degree in finance, accounting or any relevant field.
- At least five years experience in the role of an assistant broker.
Stock Broker Salary
A stock broker can draw an average annual salary of $91,570 as revealed by the US labor statistics bureau.