How often do you contact you dealer? daily? weekly? monthly? Well no matter how frequent, it is a dealer’s job to assist their clients that are in the market. Though, do you often wonder.. what does a dealer actually do? Do they magically get stock picks for me from mid-air? How can they answer the phone so fast?
So, what do Licensed Dealers actually do? (or some call them brokers)
There’s a common misconception of people’s assumption of dealers/stock brokers that this job is there to only provide advisory on stocks and to get clients to invest! There is actually more than meets the eye!
It’s mostly Hollywood that created this perception.
Well, we can tell you that it is definitely more than that. It is indeed a challenging job, not for the feint-hearted. It requires a great deal of patience, decision-making, strategic thinking and more. What better way to understand this path than for us to bring you into the world of dealing?
That’s right, it’s not all just about talking! Dealer’s Rep are required to understand and be in the know from account opening to share transfers. Also dealing with amendments and clients settlements. It is a daily routine, not just about ‘black and white’ but to better understand their client’s trades and whatnot.
From time to time, a dealer also has to attend courses to maintain as well as improve one’s understanding of the regulations and the industry. As rules and regulations change over time, it is of utmost importance for dealers to attend such sessions.
One of the most important (and fun for some individuals) aspects of being a dealer is definitely networking! It is the essential part of your career as it is a path that leads to the expansion of you client base. In the span of your career you will definitely be able meet high net worth clients. Attend events and functions from time to time, get to know more people whether in the industry or not. You’ll never know where you’ll find a gem.
Advising & Consulting
Clients are the Bread and Butter of the trade, clients look to you when they require assistance or advice. You got to always be in the know of the market and economy! As your relationship with your client grows they will be more trusting on you, that’s when you know you’ve acquired a loyal client.
Sure, most companies have their own research team to talk about stocks and the economy. However, that doesn’t means that a dealer is able to slack off. A dealer has to know technical analysis as well as a certain level of fundamentals. The skill to research and understand stocks is the foundation of a dealer, as the next phone call you receive might be for some stock market advice.
So, is being a Dealer’s Representative your cup of tea? Are you an individual with the passion to socialize and network?
Basically, a dealer isn’t just solely about stocks, stocks and stocks. They have to be skillful in many of the aspects mentioned above. Well, being a dealer isn’t easy nor is it hard but it is definitely a challenging career that opens multiple doors of opportunity.
If it is something you want to venture in, why not drop us your resume? or enquire within for more information!
Do drop us your resume at firstname.lastname@example.org , or fill in the form below.
- A degree
- A passion in stock broking
- A will to learn