Financial Services Brokers

The U.S. Department of Labor (DOL) predicts that job opportunities for financial services brokers are expected to grow faster the average for all careers from 2023 through 2033 because of continued interest in the stock market and the increasing number and variety of financial products. Rising personal incomes and greater inherited wealth are increasing the amount of funds people are able to invest. Many people dabble in investing via their personal computers and the Internet. Even those with limited means have the option of investing through a variety of methods such as investment clubs, mutual funds, and monthly payment plans. The expansion of business activities and new technological breakthroughs will also create increased demand for the sale of stock to meet capital requirements for companies around the world.

Demand for financial services brokers fluctuates with the economy. Employment growth in this field will be offset somewhat as a result of major industry consolidation. The growing use of automated trading systems has also dampened growth for securities brokers.

Turnover among beginners is high because they have a hard time soliciting enough clients. Competition in this business is intense due to the potential for high earnings. Opportunities will be strongest for those with undergraduate degrees from top universities, certification, and excellent grades in accounting, business, economics, and finance classes. Brokers with master's degree in business or finance will have the best job prospects.