What does a Brokerage Clerk do?

become a brokerage clerk

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A brokerage clerk handles various aspects of sales, purchases, and holding of securities. They also analyze market fluctuations, document security transactions, and monitor daily stock prices. Watch a video to learn more about what a brokerage clerk does.

How to Become a Brokerage Clerk

To become a brokerage clerk, you can start by getting a high school diploma or its equivalent. Then, you can look for entry-level jobs in brokerage firms or financial institutions. On-the-job training is often provided, where you’ll learn about financial markets, how to process financial transactions, and use computer systems. Gaining experience and skills in this role is essential. Some brokerage clerks may also take courses in finance or business to improve their knowledge. Over time, you can advance to more responsible positions in the brokerage industry by demonstrating your abilities and commitment to the job.

Job Description of a Brokerage Clerk

brokerage clerk

Brokerage clerks answer client’s questions about account problems or market fluctuations. They also document security transactions and prepare and keep track of receipts. They schedule and coordinate the transfers of security certificates between customer, departments, and companies.

A brokerage clerk tracks stock prices and computes fluctuations in order to asses the need for additional collateral for the securement of loans. These clerks also ensure conformance with government regulations by using stock reports and records. They allocate payments to customers after computing total holdings, brokerage fees, interest, dividends, transfer taxes, or commissions. In addition to all this, they also prepare reports from daily transactions for customer accounts, as well as their earnings.

Brokerage Clerk Career Video Transcript

Wading through the frenzy of the trading floor, or surrounded by computers humming miles away from Wall Street, brokerage clerks track the progress of every player in the game of high finance. Their wide-ranging responsibilities in this growing field all involve computing and recording data on securities transactions.

The most common type of brokerage clerk is called the broker’s assistant or sales assistant. This clerk interfaces with clients and handles the paperwork for securities purchases and sales and other account records. They’re knowledgeable about investment products and can explain them clearly. Other brokerage clerks specialize in tracking and organizing the sales and purchases of every stock, bond, commodity or other investment product offered by a securities firm. It’s all managed by customized computer software.

A high school diploma can suffice for brokerage clerk positions that are primarily clerical. A bachelor’s degree is preferred for job categories requiring a deeper understanding of finance. Many brokerage firms hire college graduates for entry-level clerical jobs and promote them into management positions as their skills develop. This is a field that requires focus, confidence, financial savvy, communications skills, and energy.

Article Citations

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Brokerage Clerks.

National Center for O*NET Development. 43-4011.00. O*NET OnLine.

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