Advantages of being a stockbroker
Will You Succeed as a Stock Broker? Many people, who are already employed in different professions, dream of taking up a career in stock broking. A midlife career change is an important decision that will affect your future and that of your family. The pros and cons need to be weighed and discussed with your family and friends, so that you will get their valuable advice and have their support.
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Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. There are perks and benefits to any job.
If you work as an airline employee, you can get discounted tickets on overcrowded flights in the middle of the night. First, you can get paid a lot of money. This I know from experience. The reality is: stockbrokers are one of the best paid professions out there. You will work in a comfortable office right downtown or in a better part of town.
Brokers need to be near their clients and those clients have money. Institutional brokers have institutional clients, such as pension funds, mutual funds think Fidelity , hedge funds, etc. Retail brokers deal with everyone who is not an institution, such as your parents, your doctor or the guy who owns the BMW dealership down the road.
Outside the major cities, they may have an office in the suburban shopping mall. AG Edwards uses this approach to be closer to their clients. You will eat well. You need to take clients out, meet them for lunch or see a ballgame together.
Clients like the attention and want to be spoiled a little. If you are successful or are working for an IB, you will have a box at the game.
You will dine at the best restaurants as well. If you are not careful you will get fat. You will have access to the best information. This will come to you through your Bloomberg terminal, your research department and high level corporate meetings and events that you will attend.
You will meet the movers and shakers in the industry and get to ask them questions. You will learn much from every meeting. You will work with very smart people. Finance is one of the most competitive industries globally and there are a lot of smart people working in it. Your clients will generally be well informed and have their own views, again, which you learn from.
Stockbroking can be a lucrative and interesting career. Every day you are challenged to make sense of the flood of information in which you swim. Your understanding of the world and how it works will deepen. If you survive, hopefully your bank account will as well.
Name required. Mail required. Be a Better Broker". The reader as a non-professional investor should not take this information as investment advice. It is not presented on this blog as such but rather for informational purposes only. Lots of Money First, you can get paid a lot of money. Nice Office You will work in a comfortable office right downtown or in a better part of town.
Good Eats You will eat well. Smart People You will work with very smart people. Click here to cancel reply. Add a comment Name required Mail required Website.
wiacek.com.au › stock-broker-pros-cons. One of the major pros of being a stockbroker is the potential for good pay. You can earn a very high base salary if you stick with the job and are.
Stockbrokers buy and trade financial securities for their clients. Some stockbrokers may also act as a financial and stock market consultant. Stockbrokers have the following responsibilities:. Most stockbrokers work for a base salary and then earn additional income and bonuses through the commission of their trades. There are a few educational and training requirements that may assist you in becoming a stockbroker, which include:.
Stockbrokers have been portrayed in many ways in film and media. The most recent example is The Wolf of Wall Street.
A stock broker is a financial advisor who specializes in helping clients choose and purchase stocks, mutual funds, pension plans, and other investments. Essentially, stock brokers need to first locate clients and then help those clients make appropriate, beneficial financial investments.
Pros and Cons of Being a Stock Broker
A stock broker usually helps individuals make investments into companies or groups of companies funds. You're basically pitching an idea or company to someone based on some research you've done. Finance is so broad that it's hard to compare directly. You need to find a specific area of finance that sounds interesting to make a comparison. Add Comment.
Advantages of being a stockbroker
Holding the role of a financial advisor, these individuals have access to cutting edge knowledge and investment strategies in the financial sector. A stock broker is a professional at providing financial advice. Additionally, one can greatly benefit from hiring a stock broker due to the fact that the broker can handle the administrative paperwork and record keeping that is required by law when making investments. Lastly, a professional stock broker establishes a learning based relationship with the client; they can educate one on the ins and outs of the financial market, and provide sound investment strategies for achieving success. A major drawback of hiring a stock broker is the costs associated with the service. Also, it is not uncommon for the broker to still make money even if one has lost money on a certain investment. This can create hard feelings and an unsatisfying relationship between broker and the investor. This creates a second drawback which pertains to conflicts or complaints launched against the stock broker by the client. The relationship between broker and client is tenuous in the sense that conflicts of interest may arise from the broker, wanting to get paid, and the client seeking sound financial advice.
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Working as a broker in the financial industry always sounds fascinating, lucrative and impressive. It is known to be a very high paying job with an opportunity to make incredible sums of money in commissions, but it is also tasking and wearing.
Working as a Stock Broker: the Pros, the Cons, and the Necessary Skill Set
Why Zacks? Learn to Be a Better Investor. Forgot Password. You know yourself better than anyone and may be the best person to assess your risk. Online investing offers amateur investors the opportunity to take full control of their own portfolios, eliminating the traditional role of the stock broker. There are significant advantages and disadvantages to each approach that should be considered by investors when deciding how to handle finances. Weigh the pros and cons before choosing, and perhaps even use a little of both styles. Online investing gives you the chance to take complete control of your own portfolio. Trades can be executed immediately during trading hours, as opposed to trading through a broker, who must be notified of your decision to buy or sell stock and then act on those decisions at their earliest convenience. On the other hand, brokers are professional traders, and part of their traditional role has been to act as a safety valve to preclude you from making bad investment decisions. While there is never a guarantee when purchasing stocks, brokers are an informed third party who can offer their own input and perspective if you are thinking about making a high-stakes trade or a rash decision. You still retain control, but with a tempered hand. Online trading offers you a variety of tools for research. Some online firms even offer professional, state-of-the-art research for no additional charge. These tools allow you to make informed decisions about your own finances.
Are the Perks of Being a Stockbroker for You?
Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. There are perks and benefits to any job. If you work as an airline employee, you can get discounted tickets on overcrowded flights in the middle of the night. First, you can get paid a lot of money. This I know from experience. The reality is: stockbrokers are one of the best paid professions out there. You will work in a comfortable office right downtown or in a better part of town.
