Securities Broker

Securities Brokers bring together the investor and the investment opportunity.  Also known as a registered representative, account executive, or an investment executive, the broker provides counseling to all parties in an investment interchange.
Securities Brokers supply institutional and individual clients with pertinent facts to assist them in buying or selling stocks, bonds, commodities, and options.  They may develop or maintain a diversified selection of securities known as a portfolio.  They research the performance record of individual securities, and identify those which are relatively stable, cyclical, or speculative.

Sample Companies:

 

  • Charles Schwab
  • E*Trade
  • Optionshouse
  • Ally Invest
  • TD Ameritrade
  • Edward Jones
  • Morgan Stanley

Salary:

According to the Economic Reseach Institute, the average salary of a securities broker is $73,853. Annual earnings of experienced brokers vary greatly, and can range anywhere from around $30,000 for beginning brokers to about $80,000 for experienced Securities Brokers.  A few brokers who handle institutional accounts may earn over $200,000 a year.

How to get there:

You will need a college degree and a background in economics, finance, or business. Also, extracurricular campus activities look great to employers. You must be comfortable with diverse groups, have experience in sales or public contact work, and it is preferred that you have previous business experience.
Knowledge of world and economic conditions is necessary. You must also pass the  Series 7 - General Securities Registered Representative Examination.

Important Qualities:

 

  • Integrity
  • Emotionally well-adjusted
  • Self-reliant
  • Hard working
  • Confident and enthusiastic
  • Initiative
  • Sound judgment
  • Quick minded
  • Personable

 

Advancement:

Recognition of superior sales and management abilities may come to the broker in the form of an invitation to become a partner in the firm, which generally requires a substantial monetary investment. Although the title carries prestige and additional responsibilities, it does not guarantee a higher income. Partners represent their firms on stock exchanges, direct branch office activities, and manage a department in the company.  
Experience in the investment business sometimes affords opportunity for appointment to a high post in another industry.

Relevant Classes:

  • Composition I and Advanced Composition/
  • Writing
  • CMN 101- Public Speaking
  • CMN 211- Business Communication
  • ECON 426- Monetary Economics and Policy
  • ECON 437- Game Theory
  • ECON 460- Financial Economics
  • ECON 471- Intro to Applied Econometrics

Relevant Clubs & Organizations:

  • Illi Investments
  • Investment Portfolio Organization
  • Illini Business Financials
  • Finance Club
  • Econ Club
  • Econ Ambassadors

Sources:

National Association of Securities Dealers 1735 K St., NW Washington, DC. 20006-1506
(202) 728-8000

Securities Industry Association 120 Broadway New York, NY 10271 

(212) 608-1500 & (212) 608-1500

https://www.erieri.com/salary/job/securities-broker/united-states

https://illinois.collegiatelink.net/Organizations

https://work.chron.com/securities-broker-job-description-12864.html

 

 

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