How to Become a Stockbroker in the United Kingdom

Stockbroking is a rewarding career.

Stockbrokers in the United Kingdom invest money on behalf of individuals and companies. There are three different types of stockbroker. "Discretionary stockbrokers" can trade in shares without prior discussion with their clients. "Advisory stockbrokers" give recommendations and seek permission before buying and selling a client’s shares. "Execution stockbrokers" operate only in accordance with a client’s wishes and do not offer advice. The job is challenging and rewarding. However, hard work and long hours are necessary to succeed.

Things You'll Need

• Degree
• U.K. work visa

Instructions

1. 

   Get a degree.

   Get a degree. A financial services degree is often more beneficial. Choose an undergraduate degree course in accounting, economics, or business. Employers usually expect a prospective employee to obtain a 2:1 degree, if the degree is awarded in the United Kingdom. The U.S. equivalent is a grade point average (GPA) of 3.3 to 4.0.

2. Obtain a postgraduate degree in a financially related subject. This is not a necessary job requirement. However, the stockbroker job market in the United Kingdom is competitive. Gain advantages over other candidates wherever possible.

3. 

   Get work experience.

   Get some experience working inside a financial institution. Obtain a work placement, even while studying for a degree. Gain a placement in an investment bank or a stockbroker company, if possible.

4. 

   Get the appropriate visas.

   Apply for the relevant United Kingdom visa (or visas) prior to searching for jobs. Companies don’t accept applications from individuals unable to work legally in the United Kingdom.

5. 

   Search for available jobs.

   Find and apply for a permanent position in an investment bank or stockbrokers. Prepare thoroughly for the strict recruitment procedures. Go through interview techniques prior to interview. Do mock interviews and tests. Find out information about the prospective company. Do the necessary research on relevant professional qualifications. Visit the websites for the Securities and Investment Institute (SII) and the United Kingdom Society for Investment Professionals (UKSIP). Demonstrate a willingness to succeed.

6. 

   Study for professional qualifications.

   Get professionally qualified. Register as a member of the United Kingdom Financial Services Authority. It is illegal to give financial advice, in the United Kingdom, without FSA registration. Apply for the relevant courses with the SII or the UKSIP. Undertake the courses and pass the appropriate exams.

Tips & Warnings

• Get job applications checked by professionals.

• Start the visa application process early.

• Send speculative applications to companies.

• Prepare to work long hours, usually from 7 a.m. until 6 p.m.

• It pays a relatively low starting salary, in the region of £25,000 (approximately $38,000 U.S).

References

• Alec: Stockbroker Careers
• Careers Advice: Stockbroker
• The Times: How Do I Become a Stockbroker?
• UCL: Graduate Application and Entry General Entrance Requirements

Resources

• CISI: Thinking of a Career In Financial Services?