How to become a stockbroker

[MrCheese]

Hi guys,

I am very keen on embarking on a career as a stockbroker. The problem is I have no experience in the finance sector. I am now 23 and have been working in the building trade since 18.

I have just finished doing the CISI investment advice diploma (FSA regs / invest risk+taxation / securities) which took me a year to do studying from home.

In October I am considering starting a 'part-time' degree in finance + accounting from a private London business school which will cost around 20k for the 3 years. Im hoping that this will boost my prospests for the future.

I obviously need to gain some sort of experience in the finance sector to have a leg to stand on, so I've been told. However the only jobs I can find appear to be dodgy i.e. selling carbon credits via cold calling.

I don't want to work in a 'spank shop' but I want do something relevant and that will look good on my CV, any suggestions greatly appreciated.

Thanks

 

[Joules MM1]

..new lulz

 

[thehitman]

Hi guys,

I have just finished doing the CISI investment advice diploma (FSA regs / invest risk+taxation / securities) which took me a year to do studying from home.

Quick question.
How was the CISI?

I am looking into moving from the Sales side of retail banking (5 Years experience) to potentially the sales side of the trading floor (work at v. large bank so good networking opportunities as face to face contact with MDs Traders etc on regular basis)
Not a grad so feel this may give me an advantage over other candidates and show drive/ambition as previously been informed from certain parts of the trading floor that they only hire from grad schemes.

 

[Jack o'Clubs]

The coming crop of MBA students is exceptional. Can you ... | Job news & advice | eFinancialCareers

The link title kind of makes the point. To the OP I'd just ask why? You're obviously reasonably bright and ambitious. You'd be fighting huge disadvantages to make it as a stockbroker in anything other than a bucket shop. But you know about the building trade. Focus your efforts there. I bet if your middle aged self running his own building company met your parallel universe twin who had forged into broking, the builder would be richer and happier. Seriously, I think your efforts are being misdirected...

And to the Hitman I admire the sentiment of the final para but its logic escapes me entirely.

 

[thehitman]

The coming crop of MBA students is exceptional. Can you ... | Job news & advice | eFinancialCareers

And to the Hitman I admire the sentiment of the final para but its logic escapes me entirely.

JoC, thanks for the reply.
Apologies I may not have made myself as clear as I intended!

Although certain sections of the trading floor I have visited have stated they only specifically hire from the Grad scheme, I am aware that there are other ways in, for example there is the ability to be taken on without going through this scheme provided you are an exceptional canditate and have demonstrated the correct behaviours, however just not specifically on certain desks.
Alternatively there are ways to "get in" to the training progamme aimed at graduates (esentially the main part of the grad scheme) without neccessarily being a gradutate again provided you are an exceptional candidate.
I feel that ataining some qualifications albeit not a degree would only help to strengthen my case.

 

[MrCheese]

The coming crop of MBA students is exceptional. Can you ... | Job news & advice | eFinancialCareers

The link title kind of makes the point. To the OP I'd just ask why? You're obviously reasonably bright and ambitious. You'd be fighting huge disadvantages to make it as a stockbroker in anything other than a bucket shop. But you know about the building trade. Focus your efforts there. I bet if your middle aged self running his own building company met your parallel universe twin who had forged into broking, the builder would be richer and happier. Seriously, I think your efforts are being misdirected...

And to the Hitman I admire the sentiment of the final para but its logic escapes me entirely.

Thank your for your honestly. In reply to Joc, I didn't find the CISI diploma too difficult, I think it can be completed fairly quickly if you have the time, good luck.

 

[jklee]

Do you still have your old books to sell?
I have been doing my chartered financial planner exams but would like to upskill by taking some of the cisi exams.

I read somewhere that Schneider Trading offer Professional Trader Programme. You don't get paid but they teach you about trading and if you are good enough they might offer you a salaried or self employed role.

 

[MrCheese]

Do you still have your old books to sell?
I have been doing my chartered financial planner exams but would like to upskill by taking some of the cisi exams.

I read somewhere that Schneider Trading offer Professional Trader Programme. You don't get paid but they teach you about trading and if you are good enough they might offer you a salaried or self employed role.

Sorry already sold them