If you are a stock broker, you may eventually become bored with the daily activities that your job requires.
Fortunately, stock brokers have many other similar jobs that they can get into that offer excellent wages and room for advancement. Let’s take a look at some of the different career paths that a stock broker can take:
1. Risk Analyst
Sometimes referred to as a risk manager, a risk analyst evaluates and reduces any risks that could potentially threaten a company’s financial well being. There are four specialties that a risk analyst can choose to work in:
- Regulatory risk: They monitor any legislative changes that could potentially have an impact on the company.
- Market risk: They assist the company in avoiding influences from the outside that may result in a negative impact on the company. One example of this would be changes in the competition.
- Credit risk: They figure out the likelihood of a client not paying the amount they owe for products and services. Determining how this debt will impact the company is another part of the job.
- Operational risk: They analyze the company and study any large-scale problems that could hurt the company as a whole. One example of this would be employee fraud.
2. Investment Analyst
People with this job are responsible for three areas: research new investments, create advice reports and determine the value of the current investment. Their main roles are to make sure the company is in compliance and to figure out the value of many investment instruments that the company can buy. Advice reports give information on an investment, such as its ranking in the marketplace and its historical performance. Ideally, an investment analyst will find out any important news that may have a direct impact on both the short- and long-term performance of a particular investment. Advice reports also include any recommendations that the analyst has.
3. Financial Trader
These people are employed by brokerage institutions, financial planning companies and investment banks for the purpose of facilitating sales and purchases of bonds, stocks and various other securities investments. This job includes locating and giving advice to people who are looking to make financial transactions. The trader will then complete the sales and purchases that are requested. It is necessary for a financial trader to be licensed by a national or regional financial regulatory institution.
4. Personal Financial Adviser
This job involves assisting people in the arranging of their finances to provide them with the biggest benefit. This can sometimes be in the form of creating a financial plan for a person to follow. He or she can also act as a consultant over a long period of time, giving advice on a wide range of financial issues. It is common for people to seek out the help of a personal financial advisor when their finances have gotten out of control and they are in serious trouble. In these cases, the advisor will take a look at their sources of income and their spending habits. Once this information has been attained, the advisor can craft a budget that will hopefully allow the client to get on his or her feet again.
5. Investment Consultant
This job involves helping clients to properly invest their money. These clients can be companies or individuals. These consultants help to create strategies for investors to use. They also make sure their clients have current information concerning the risks involved with certain investments.