ADD ADVICE TO FAVStockbroker
Stockbrokers work mainly in investment banks but sometimes for firms of brokers.
What stockbrokers do
- advise clients on investment and risk strategy
- buy and sell securities on their behalf
- interview clients to assess their requirements, eg capital growth, income, high- or low-risk investments
- monitor clients’ portfolios of investments and advise them on which funds or companies to invest in
- consult share prices
- obtain the best prices possible for their clients at the time of dealing and conduct the transaction
- may specialise in either private client or institutional client work, in dealing, in advising or in certain types of securities.
Key skills
- communication skills
- accuracy
- ability to analyse and absorb information
- attention to detail
- confidence
- persuasiveness
- stamina
- initiative, judgement and discretion
- numeracy
- understanding of the ways in which the different investment sectors work.
Training to be a stockbroker
Stockbrokers train on the job, first assisting experienced brokers. If they advise on or manage investments they must be approved by the Financial Services Authority, passing an appropriate examination as decided by their employer.
Salaries
Graduates can expect a starting salary of £24,000 to £35,000, plus bonuses and allowances. With 15 to 20 years’ experience, stockbrokers may earn £100,000 plus bonuses of up to 150% of their salary.
