Stockbrokers are finance professionals that manage money for their clients by making recommendations to purchases or sell stocks and executing those purchases or sales on their client's behalf. Stockbrokers make their recommendations based on market research and the current financial news. A large part of the job of stockbrokers consists of staying abreast of trends in the stock market and formulating the best trade decisions for their clients.Continue Reading
Most stockbrokers must create their own client list. Therefore, client recruitment is a large part of the stockbroker's job, particularly when starting in the business. Once client lists have been built, stockbrokers must devote a large portion of their time to servicing their clients. It is critical that stockbrokers build trusting business relationships with their clients, which requires them to frequently update clients on the status of their portfolios. A stockbroker also devotes time to networking within the financial industry.
Stockbrokers are required to disclose all information about an investment, especially the level of risk involved. They are forbidden to provide misleading or exaggerated statements. Stockbrokers have a fiduciary duty to put the needs of their clients above their own. Since stockbrokers make their livings on commissions, there is a potential conflict of interest between brokers and clients because the more trades stockbrokers execute, the more commission they earn. Stockbrokers are required to execute only trades that are in the best interest of their clients.Learn more about Careers