Sharebroker
Tasks & duties
Sharebrokers may do some or all of the following:
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handle customer orders to buy and sell shares on the stockmarket
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source clients to build up a customer base
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trade stocks on electronic markets
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advise clients about investments
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take orders to buy shares directly from the market
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comply with the rules of the NZX (New Zealand Stock Exchange), and keep up to date with new developments
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sell and close deals and transactions
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calculate commission costs
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keep informed on what is happening in the world financial markets
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meet with clients
Specialisations
There are two types of sharebroker – full-service brokers and discount brokers.
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Full-service brokers offer tailored research and personalised advice to their clients.
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Discount brokers facilitate the trading of shares only
Skills & knowledge
Sharebrokers need to have:
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knowledge of the NZX (New Zealand Stock Exchange) rules and regulations
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up-to-date knowledge of the companies listed on the stock exchange
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awareness of current issues affecting the stockmarket, business trends, and trends in share prices and values in New Zealand and overseas
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sales skills
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skill in interpreting, analysing and researching information
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basic maths skills, including the ability to memorise numbers
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time management skills and the ability to prioritise tasks
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writing skills
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good communication skills
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computer skills
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up-to-date knowledge of changing technology relevant to their work
Entry requirements
To trade on the NZX (New Zealand Stock Exchange), sharebrokers much be accredited as NZX Advisers. To become an NZX Adviser you must:
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have six months' experience working and training under another NZX Adviser
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sit and pass six subjects to attain the NZX Diploma
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purchase a sharebroker licence granted by the District Court
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have no criminal convictions or have never been bankrupt or responsible for the liquidation of a company
Secondary education
NCEA credits in English, maths with statistics, economics and/or accounting are preferred.
Tertiary education
A tertiary entrance qualification is useful to enter further training. Useful subjects include English, maths with statistics, economics and accounting, and a degree in some of these subjects will allow cross-crediting when it comes time to sit the NZX Diploma exams.
Training on the job
A sharebroker can gain the NZX Diploma while training on the job under a mentor. Further skills are also gained on the job.
Useful experience
Accounting, statistical or marketing work is useful experience for sharebrokers. Work in a bank or clerical work in a sharebroking environment is also useful.
Related courses
Banking and Finance
Investment and Securities
For more information, please refer to Career Services.
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