Stockbrokers manage investments for individual clients or companies and large organisations, buying and selling stocks and shares to make the best return for their clients. Some stockbrokers completely manage their clients’ investments and make decisions on their behalf, whereas others will act according to the client’s instructions on buying and selling shares. Much of the trading is conducted by telephone and via the internet.
The client’s portfolio of investments is regularly reviewed to monitor performance, and updates are produced to illustrate the findings. The stockbroker will keep in regular contact with the client and suggest any changes which could improve performance.
Stockbrokers work as part of a team alongside investment analysts who carry out in-depth research into how the companies and markets are performing. The analyst produces reports which the stockbroker uses to advise existing clients and to attract new ones. Some stockbrokers will have had training before starting work in this area though there are many instances of those who haven't being very successful in such a role.
Stockbrokers work long and often irregular hours in large, open-plan offices. The London Stock Exchange opens at 8am so stockbrokers are normally at their desks by 7am.
It is usually a very hectic environment and involves extensive use of computers and telephones.
To be a stockbroker you should:
Language skills - particularly German, Japanese and French - can be useful if working with overseas clients and markets.
As you gain more experience it may be possible to move into other roles like trader, relationship manager or even a fund manager.
If you would like to learn more about becoming a stockbroker that does not appear on Hotcourses, further information can be found below.
Financial Services Skills Council (FSSC)
51 Gresham Street
Tel: 020 7216 7366
Securities & Investment Institute (SII)
24 Monument Street
Tel: 020 7645 0680
UK Society of Investment Professionals (UKSIP)
90 Basinghall Street
Tel: 020 7796 3000
Financial Services Authority (FSA)
25 The North Colonnade
Tel: 020 7066 1000