The best stock broker and indeed all stock brokers, have to be regulated to trade in securities and stocks when working for clients. To trade as a broker, they must have passed exams and be licensed and these will defer according to the country you wish to work in.
A broker may work for corporate clients or individuals and trade solely on a stock exchange buying and selling shares and securities. They may also work in an advisory role if they have the right background to become a registered investment advisor. This role allows them to offer advice on all areas of investing that concern planning your future lifestyle. The advice given will include everything from a mortgage loan to the way a client’s income is invested for the future.
When dealing with a personal planning account, this will challenge the capabilities of a broker significantly. Most individuals are seeking an all-round answer that can give them the greatest options possible. The mortgage is undeniably central to this because if this loan is optimized, it could free a significant income for investment.
The best stock broker will also look at the client’s retirement plan. This will typically include the formation of an account designed to hold mutual funds, simple because such funds are held tax free for retirement and will provide a solid platform for your money. The broker or fund manager are able to choose the stocks for the fund, while the investment owner will always retain overall control. Other more precarious investments may be suggested to try and fast-track the development of the account.
There is a high level of accountability that accompanies the position of a stock broker or fund manager, and this may work against them in some circumstances if they are not careful. It is obvious there will be times when the information they hold for the client’s benefit can be used to bolster their own finances. This ‘front running’ is strictly illegal and immoral and such practices can certainly be traced electronically and the offender prosecuted and financially ruined. In other words, it’s not worth doing.
If joining a stock brokerage company is for you, please realise the extensive period of apprenticeship and exams is not that well paid unless you become very good, very fast. You need to be licensed to trade on the stock exchanges and the exams and licenses will differ between countries. However, courses can be easily found at a variety of institutions, including traditional colleges who have always produced many investment banking and broking graduates as well as online colleges who specialise in stock broker exams. To become the best stock broker, you need to be reliable, resilient, honest, fast thinking and able to build strong and trusting relationships to gain the highest stock broker salary possible.