Finance is a vast field where everything has functions and then sub-functions and much more. Finance for those who don’t know is something like accountancy whereas; it is something not related even to accountancy. Finance is all about managing money and accountancy is related to recording of the money transactions. Brokerage is a vague term but thanks to all the development and education they have now bifurcated all the brokerage aspects for example: financial broker, trusted mortgage broker in Wollongong and so on. Financial broker is somebody who helps in buying and selling of the share in an open market.
Share market is a place where a person like me or you cannot just go and start trading; there are certain protocols which one has to follow. There are some protocols for example: a person is bound to open an account (a share account) with a financial brokerage company, which assign a broker who takes care of everything pertains to share transactions. Share transactions are not that simple, it can only be dealt when one has ample knowledge regarding financial markets and company, which company is a dividend provider and which company is good for capital gains. Ups and downs in the financial market is yet the cup of tea of a financial broker.
What’s in it for a financial broker:
Definitely the question arises as in, what financial broker is getting as a result of this service? Answer lies in that percentage which a broker gets on every buy and sell of a share. This means that no matter if the client is losing money or gaining financial broker will get his/her fees properly. That certain percentage or amount which seems negligible, when multiplied by the number of shares becomes significant. This is what the financial broker gets in return of every single transaction.
How to become a financial broker:
It’s a money-making job to become a financial broker. Simple graduation with financial majors followed by some certification related to market knowledge, MBA in finance or may be ACCA or CFA can solve the purpose of becoming a financial broker. Finance broker is a person who must possess the financial knowledge as well as the market knowledge. Political scenarios are yet another field of concern from a broker’s perspective. Not anybody can become a financial broker, because after academic qualification it is important to seek practical knowledge, hence, internships and unpaid jobs in brokerage houses matters a lot for the flourishing career of a financial broker. It takes a lot more than just academic knowledge to be in this field, because money making is not an easy job and one has to take a lot of responsibility. In a nutshell financial broker is a person who makes money on the money of others.