Do you need to have a degree in business, finance or economics to be a stockbroker?There is no particular education requirement. Successful stockbrokers have come from all backgrounds and walks of life, ranging from the high school drop-out to the Harvard MBA!
One of the positives about our business is that the stock market is the "Great Equalizer." Integrity, tenacity and a friendly personality are far more important than where you came from or what school you went to!
Wouldn't it be safer to work on a salary for a major corporation?
In the last years many major corporations laid great numbers of employees while, during that same period, their stocks soared to previously unimagined heights!
And yes! It might be a little safer ...
But not better or wiser!
Since the attack on the World Trade Center the stock market has a lot of volatility. Shouldn't I wait to start my career in the stock market?
The fact is that this is the PERFECT TIME to start your career. Why? Consider this:
Most of the tremendous upside moves of the last decade have largely been fueled by Baby Boomers investing for their retirement. The Baby Boom generation will not start to retire for another 10 to 15 years.
Their money is in search of high returns. As the stock market declined, much of that Baby Boomer retirement money, literally TRILLIONS, was put into money market funds. Returns on money market funds are near their all time lows! That money will eventually return to the stock market!
Also, keep in mind, as a new broker you will be calling on people who, more than likely, already have accounts with competing brokers.
The chances are GREAT that the people you will be calling upon have NOT been particularly pleased with the performance of their current broker. This makes them EXCELLENT PROSPECTS for doing business with YOU!
Isn't the Internet rendering the full service stockbroker obsolete?
The Internet really doesn't present a new challenge. It simply adds a technological variation to an old challenge. This is what we mean:
A few years ago brokerage commissions were regulated. That is to say, at that time, BY LAW, all brokerage firms were required to charge the exact same commissions.
Subsequently, when brokerage commissions were deregulated, for the first time a new breed appeared on the scene ... THE DISCOUNT BROKER.
Many believed then that the coming of the discount broker would spell the end of the full service, full commission broker. Of course, as we know, that did not happen.
The reason it didn't happen then is the same reason why the online brokers won't spell the end of the full service broker now either.
You see, Internet not withstanding, there are a great many wealthy people who made their money doing something other than investing in the stock market.
These people are content to continue doing what made them successful in the first place and are more than willing to hire someone they perceive to be successful in stock market investing to give them good advice and guidance!
Also, there is another breed of investor out there who believed the Internet would be his or her salvation. They thought they would save tons of money on commissions and take their broker out of the picture in the process.
MANY of those people learned THE HARD WAY that paying less per trade actually COST THEM TONS OF MONEY because, in the final analysis, THEY DIDN'T KNOW WHAT THEY WERE DOING!
These very same people are now excellent prospects for the full service stockbroker than can demonstrate professionalism and competence!
The brokerage business always has been, is today, and always will be competitive. That is why salesmanship is the KEY!
How do I know if I have what it takes to be a stockbroker?
While there is never any way to know for sure, there IS a way for YOU to make an informed, intelligent stockbroker career decision ... Get in Touch with Us!
During the interview process we look for two primary characteristics:
1. Does the person being interviewed strike us as being fundamentally honest? And
2. Does the person being interviewed exude enthusiasm and a willingness to go the extra yard?
All other factors, including education and prior business experiences, are just secondary considerations!
