Stockbroker

Stockbrokers work in the investment marketplace, buying and selling stocks, bonds and other assets (collectively known as securities) on behalf of clients, who may be institutions or individual investors. They may offer different types of services, from executing investment transactions only to giving advice and restructuring investment portfolios.

Responsibilities include:

• managing and reviewing clients' investment portfolios
• researching financial markets
• answering clients' questions and keeping them informed about their investments' performance
• preparing investment recommendations and restructuring portfolios
• instructing stock market traders to achieve the best market prices
• marketing their services to new clients.

Stockbrokers usually specialise in certain markets or geographic regions. They may sometimes be known as wealth managers, equity traders, brokers or dealers.

Stockbrokers normally work Monday to Friday. They usually start work between 7am and 8am, when the European markets open. Stockbrokers dealing in commodities or markets operating in different time zones may work more irregular hours. Stockbrokers generally work in an open plan office. The work can be pressurised.

Salaries can range from around £24,000, potentially reaching £150,000 a year or more. Bonuses increase basic salaries considerably.

A stockbroker should be:

• articulate, with excellent written and verbal communication skills
• decisive and confident
• ethical and professional
• able to take initiative, using well thought-out research to calculate risks
• customer focused
• interested in financial markets and the global economy.

Stockbrokers work for financial investment houses, global banks and specialist stockbroking firms. Most jobs are in London, with some opportunities in major UK cities.

Many stockbrokers have at least a 2.1 degree. Although any discipline is accepted, studying economics, business studies, maths and accountancy is useful. Increasingly, entrants have a postgraduate qualification. It may be possible to enter a junior investment research or analysis support role with A levels or via the Level 3 Advanced Apprenticeship in providing financial services (investment administration pathway). The Diploma in business, administration and finance may be relevant for this area of work.

Stockbrokers giving financial advice must pass an appropriate examination. They must also be registered as an 'authorised person' with the Financial Services Authority (FSA). While qualifying, entrants generally train and work alongside market analysts and qualified stockbrokers.

Promotion depends on performance. After initial training, stockbrokers can take on larger client portfolios and eventually team management duties as an associate. Fund management or consultancy roles are also possible.

Further details