Stock Broker Career: by Ayna Miah

People,who are really interested in the stock markets,are more likely to succeed as stock brokers, than those who are only interested in making money.

Stock brokers help their clients to buy and sell stocks, bonds, shares in mutual funds,insurance annuities and other financial products. Transactions in stock exchanges can only be conducted by members of the stock exchange, so the services of brokerage houses are required by individual investors who want to invest a few hundred dollars, as well as by corporations that invest millions of dollars.

The orders of clients, who wish to buy or sell securities, are relayed to the floor of a securities exchange by stock brokers, through their company`s computers or by phone. On the floor of a securities exchange, floor brokers negotiate with other floor brokers and complete the transaction.

If the security is not traded on an exchange,like over-the counter stocks and bonds, then the order is sent to the trading department of the company, where dealers buy and sell securities from other dealers. They use their own funds or those of the company for this and the client is told about the final price, once the transaction has been concluded.

Clients seek the advice of stock brokers on tax planning,investments, estate planning, insurance and other financial issues. 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.

Finding clients and building a client base is the most important part of the job. New stock brokers have to spend many hours on the phone to build up a client base. Many brokers join social organizations and give lectures on investment, to try and build their client base.

Stock brokers are continuously provided with the latest information about the prices of securities, by means of computers. Most stock brokers work under rather stressful conditions and at times the pace of work can become quite frenzied.

Established stock brokers usually work the standard 40 hours a week, but new brokers will have to put in longer hours.

A college education is important for people who want to become stock brokers, because they must be aware of economic conditions and trends. A college education is even more important if you want to join one of the large companies. Courses in Economics, finance and business administration can be helpful, though employers seldom require specialized academic training.

It is important to have good interpersonal skills and a strong desire to succeed. People who have the ability to sell and can handle frequent rejections are preferred by employers. Some employers check to see if employees have a clean record and a good credit history.

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.

Stock brokers have to obtain a license by passing the General Securities Registered Representative Examination and they may also be required to post a bond. This examination can be taken by Individuals who have worked for four months with a brokerage firm. In several states candidates may also be required to take the Uniform Securities Agents State Law Examination.

These examinations are designed to ensure that candidates have knowledge about the stock exchange. Individuals who pass these tests are required to undergo training and take classes for up to two years. Stock brokers are expected to take training courses all through their careers, to keep up with the latest developments in the field.

Author Resource: Ayna Miah knows the stock brokerage industry secrets both inside and out. Now he wants to share his profitable knowledge with you.Discover the Insider Tips, Techniques and Secrets That Will Turn You Into a Successful Stock Broker and Even If You Have No Experience Whatsoever. www.aboutstockbrokers.com/blog

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