The primary job of a stock broker is to help a client develop an investment plan based on the client's specific needs. A stock broker advises a client and gives recommendations on stocks and other financial instruments, monitors and keeps a record of the client's investments transactions, buys and sells shares of stocks, mutual funds and similar instruments, evaluates and interprets financial reports, and keeps track of the stock market movement at all times. A stock broker works for large financial houses, brokers and banks such as JP Morgan Chase, Goldman Sachs, Edward Jones, Scottrade, and the like. His place of work is either on the trading floor of his company or in the stock exchange itself, surrounded by his fellow stock traders. He may be constantly on the phone dealing with his clients and with the specialists on the trading floor. He reports to a manager of the specific trading department where he works. There are usually more than one stock broker in a large financial firm, and they are often supervised by a principal or senior stock broker or manager. Typically, a stock broker must have a bachelor's degree, preferably in business, finance, management or marketing. An MBA degree would be a major advantage. The key skills for this position are: keen analytical ability, high tolerance to stress, strong drive and ambition, competitiveness, and computer skills. The hours of a stock broker follow the stock trading hours, including the morning and evening extended hours.
Stock Broker Tasks
- Maintain knowledge of all financial services the company offers and promote these services to the client.
- Manage client portfolio with care and integrity, ensuring that their financial well-being is protected.
- Analyze and interpret portfolios and assist in creation of strategies to meet financial goals of the client.