Frequently Asked Questions (FAQs)
How can I become a stockbroker?
Choosing stockbroking as a career
You will be a literate and numerate individual with a good record of academic achievement - certainly good school qualifications and probably a degree. These do not need to be related directly to stockbroking or investment management, or even to numeracy particularly, as you will have every opportunity to prove these later!
There are many other opportunies within stockbroking and investment management firms, of course, and there will always be a demand for highly skilled people in other disciplines such as IT and marketing, auditing and compliance.
Professional qualifications
In order to become a stockbroker you need to pass an examination recognised on the Financial Services Authority's list of approved examinations. You will also need to become an FSA approved person. This entails your firm, which will be authorized by the FSA, putting you forward for approved status by the FSA. The process will require your firm assessing your competence by supervising and checking your work and when it is satisfied that you need no longer work under supervision – and you have met all other necessary criteria – it will put you forward for approval to the FSA.
Useful resources
Some APCIMS members offer some useful online resources for people considering a career in finance:
- BPP Professional Education's A Career in the City section gives a handy overview of the attributes needed and outlines the qualifications required to work in stockbroking, investment management and other careers; and
- the Securities Institute website has a comprehensive careers section, which includes links to advertised jobs.