Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

How to Become a Discount Brokerage Sales Representative

Career News June 10, 2014

Do you understand numbers and business figures? More importantly, can you explain these terms in simple ways and sell it to a person with questions? Then your ideal job may be working as a discount brokerage sales representative.

Selling securities demands more than strong mathematical and analytical skills. These skills are also applied to a complete observation of the world in its day-to-day structure. They must incorporate an understanding of human dynamics as well as marketing abilities and a keen awareness of the buying and selling trends.

Education Matters

For a discount brokerage sales representative, early education begins with a daily study of stock market quotes and reading financial advice magazines online. A minimum of a Bachelor of Arts (B.A.) in finance or business is needed for entry-level positions, with many companies requiring a Master’s in Business Administration. As much of the business of discount brokerage is done online, companies often offer online internships that the candidates may fill during the course of their studies.

Discount brokerage sales representatives sell securities directly to customers for a smaller commission than full-service brokerages. Their services do not include managing client investments for them or offering help, although some companies do include an advice service for clients with questions concerning their investment options.

Discount brokerage sales representatives are expected to build their own clientele. This ought to begin immediately after passing the licensing exam. If you have begun an internship, your discount brokerage firm will sometimes offer to pay for the licensing, and allow you to begin establishing a clientele for the length of the internship; usually six months, before licensing.

Job Requirements

Establishing a clientele may involve exhausting the phone book and doing a little door to door campaigning. The largest percentage of candidates who become discouraged quit in the first year. The discount brokerage sales representative must have a confident attitude, engaging personality and ability to accept negative answers without becoming discouraged.

Generally, the discount brokerage sales representative works on commission; although, some discount brokerages offer a salary. Usually discount brokerage sales representatives work forty hours a week, sometimes including weekends. The discount brokerage sales representative is often given a quota for security buyers.

The position requires computer skills in networking and financial and marketing software. They must familiarize themselves with stock options and remain up to date with security sales, market offers and new computer technology. Customer services are often conducted through the Internet, but discount brokerage sales representatives may also schedule with clients through phone of in person.

Employment of discount brokerage sales representatives is expected to grow by eleven percent by the year 2022, an average growth ratio in comparison to all other occupations, according to the U.S. Bureau of Labor Statistics. The average earnings for discount brokerage sales representatives are $72,000 a year.

This is an industry that welcomes the ambitious, willing to learn, and energetic crowd. Why not assume more responsibility and salary than you currently have? The only thing stopping you is taking the first step and going to college. Take this opportunity, and you won’t regret it!

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
  • Online Courses
5 Program(s) Found
  • Online Bachelor's programs include BBA, Criminal Justice, Psychology, IT, Healthcare Management & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
  • Provide a range of campus experiences and services online including advising, tutoring, student community, and career services
  • Give students and alumni access to career assistants who help with resumes, cover letters, job hunting, and more.
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
  • Online Courses
5 Program(s) Found
  • Earn your Bachelor of Business Administration (BBA) 100% online
  • Learn business and leadership skills through case studies and intensive projects, culminating in a capstone course
  • Program designed to teach students key concepts in accounting, financial services, and marketing
  • South University brings over 115 years of achievement and tradition to a supportive, online classroom
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!