How to Become a London Stockbroker

Stockbroker Andy Hill working on the job.

Stockbrokers in London are qualified professionals who manage investments for companies and individuals. Stockbrokers offer three different kinds of service: discretionary (buying and selling a client's stocks and making decisions on the client's behalf), advisory (giving advice to clients on different investment opportunities), and "execution only" (taking a client's instructions without giving advice).

To become a stockbroker, you should obtain a bachelor's degree and consider attaining a Masters of Business Administration (MBA). To work as a stockbroker in London, you must meet proper legal requirements to work in the United Kingdom.

Instructions

1. Obtain a bachelor's degree. Recommended fields for stockbrokers include: business, economics, finance and accounting. If you receive your degree in the UK, you should attain a class 2:1 or above.

2. Attain an MBA. Frequently, stockbrokers will hold advanced degrees like an MBA. You do not need to attain an MBA to become a stockbroker, but having one will set you apart from other job applicants.

3. Learn a foreign language. Becoming fluent in German, Japanese, Mandarin Chinese or Russian can give you an advantage in working with clients overseas.

4. Find a job. Many stockbrokers in the UK start their careers by working under a graduate trainee scheme at an investment bank or stockbroking firm. You will have to undergo a tough recruitment process (tests, interviews, etc.) before you are hired.

5. Meet legal requirements. You must be a UK citizen or hold a valid work visa from the British government to work in London. If you have secured a position with a company in London, you will need to to apply for a visa as a sponsored skilled worker. (See Resources.)

6. Get qualified. Once you have a job in London and obtain a visa, you will need to work towards receiving your professional qualification with the Financial Services Authority. You must become an "authorised person" with the FSA to provide financial advice to clients.

Tips & Warnings

• The starting salary for a stockbroker in London ranges from 24,000 to 35,000 pounds per year. More experienced stockbrokers can earn between 45,000 to 80,000 pounds per year. Some stockbrokers make more than 150,000 pounds a year.

• Expect to work long hours. Many stockbrokers work from 7 a.m.to 6 p.m., Monday through Friday.

References

• Stockbroker Job Profile
• How do I become a stockbroker?

Resources

• How to apply for a UK visa as a highly-skilled worker
• How to apply for a UK visa as a sponsored skilled worker
• CFA Society of the UK
• Securities and Investment Institute