Securities Sales Agent
A Securities Sales Agent is a professional who advises clients—including individuals, groups, and businesses—on financial investments such as stocks and bonds. They analyze market trends, assess financial conditions, and provide tailored investment strategies to help clients meet their financial goals. This role requires a bachelor's degree, often in fields like business, accounting, or economics, and typically includes moderate on-the-job training. Securities Sales Agents operate in a competitive and fast-paced environment, often working for large firms where they must build and maintain client relationships while managing significant workloads, sometimes exceeding forty hours a week.
Their responsibilities include identifying potential clients, executing buy and sell orders, and compiling investment portfolios. Success in this role relies heavily on strong interpersonal skills, resilience, and a passion for financial markets. Agents often engage in ongoing professional development to advance their careers, which may include pursuing an MBA or obtaining certifications from regulatory bodies like the Financial Industry Regulatory Authority (FINRA). The median earnings for Securities Sales Agents are approximately $76,900 per year, reflecting the potential for lucrative compensation tied to performance and client success.
Securities Sales Agent
Snapshot
Career Cluster(s): Finance, Human Services
Interests: Finance, Securities Analysis, Financial Planning, Financial Counseling, Economics, Advertising
Earnings (Yearly Median): $76,900 per year $36.97 per hour
Employment & Outlook: 7% (Faster than average)
Entry-Level Education Bachelor's degree
Related Work Experience None
On-the-job-Training Moderate-term on-the-job training
Overview
Sphere of Work. Securities Sales Agents advise individual clients, groups, or businesses on beneficial financial investments. They analyze and assess financial trends, market conditions, and company histories to determine the most profitable potential investments for their clients. Securities Sales Agents buy, sell, and transfer stocks and bonds (types of securities) based on the financial needs of their customers. When a Securities Sales Agent successfully completes a financial transaction, they receive a commission. Securities Sales Agents are responsible for finding and retaining clientele and cultivating strong connections within the financial world.
Work Environment. This field is highly competitive. Securities Sales Agents must often be persistent and resilient to succeed, especially early in their careers when developing a client base. Typically, Securities Sales Agents work for large firms and spend most of their time in a fast-paced office environment where they continually receive updated securities information. Many of them work more than forty hours per week, and they are expected to accommodate clients during evenings and weekends. New Securities Sales Agents frequently travel to various locations to recruit and meet with prospective clients. Brokerage firms can be highly stressful environments where successful financial transactions depend upon quick decisions and accurate calculations. An employee’s job security depends on making money for the client and the firm.
Occupation Interest. The environment in which Securities Sales Agents buy, sell, and trade stocks is inherently frenetic; therefore, prospective Securities Sales Agents should be aggressive and thick-skinned. Brokers must deal with demanding clients who expect to see investment returns. Brokers should be outgoing and possess excellent interpersonal skills. A strong desire to succeed and a willingness to work overtime to acquire and retain clients are essential. Securities Sales Agents should be passionate about economics and enjoy researching current market trends.
A Day in the Life—Duties and Responsibilities. One of the most important components of a Securities Sales Agent’s job is identifying and securing potential clients. To this end, new Securities Sales Agents must develop and manage advertising campaigns, social and professional networking opportunities, and mailing lists. After obtaining a client, Securities Sales Agents consult with them to establish investment preferences, financial goals, and assets and provide advice on buying and selling securities based on the client’s needs. Once a client has reviewed and accepted a specific investment opportunity, a Securities Sales Agent transmits the order to the securities exchange floor and notifies the client that the transaction is complete. Securities Sales Agents compile investment portfolios and accurately document investment transactions for clients.
When not actively buying, selling, or trading stocks, Securities Sales Agents generate and implement financial plans for clients, review transactions to ensure compliance with agency regulations, and report orders to firm trading departments. They also closely monitor market conditions, review financial and business periodicals, evaluate mandatory annual statements (such as Form 10-K reports), and calculate earnings ratios to identify highly profitable stocks.
Securities Sales Agents must continue to recruit new clients while maintaining strong relationships with existing customers. They often contact potential clients via “cold calling” or emails to describe available services and introduce suitable investment ideas.
Work Environment
Immediate Physical Environment. Securities Sales Agents perform most of their work in clean, busy, and pleasant offices. They spend significant time sitting at a desk and communicating with clients via phone and email. Some Securities Sales Agents work on a noisy, crowded stock or commodities exchange floor. Securities Sales Agents frequently travel to client meetings during regular work hours and at other times.
Human Environment. Securities Sales Agents often interact with their clients and develop close relationships with individuals and business groups. They commonly work and communicate with other Securities Sales Agents and financial professionals, including financial services sales agents, advisors, investment bankers, brokerage clerks, and administrative personnel.
Technological Environment. Securities Sales Agents typically use computer terminals or quotation boards (which display current market information) as their main point of access to the commodities exchange. Additionally, they use smartphones, calculators, fax machines, transaction logs, and rating books. They review financial publications, Form 10-K reports, buy and sell orders from clients, and economic forecasts.
Education, Training, and Advancement
High School/Secondary. High school students interested in becoming Securities Sales Agents can best prepare by taking courses in mathematics, including algebra, geometry, calculus, and trigonometry. They should also study economics, government, communications, ethics, and business. Participation in extracurricular activities that involve public speaking—such as debate team, student government, or drama club—helps to build communication skills. Outside of school, students can become familiar with the stock market by researching, selecting, and following a specific corporation’s stock value over a period, noting its gains and losses.
Postsecondary. After graduating from high school, students should plan to earn a bachelor’s degree in a subject like business, accounting, or economics. Students who enroll in these programs generally learn about banking and finance, the Federal Reserve System, and financial analysis, among other subjects. Business students should also continue to study mathematics at an advanced level. Because Securities Sales Agents rely primarily on computers and financial software, students should develop computer and software skills, as well as a familiarity with financial industry software and databases.
In their last year of college, many students obtain work as summer interns for large brokerage firms. Such firms may offer a qualified intern a full-time position upon graduation from college.
Advancement within this field is usually contingent upon earning a master’s degree in business administration (MBA) at an accredited school or advanced professional certification through the Financial Industry Regulatory Association (FINRA), which also administers the basic certification required for all Securities Sales Agents. An MBA equips Securities Sales Agents with real-world business skills and practical knowledge of buying, analyzing, and trading stocks.
Related Occupations
Bibliography
"Securities, Commodities, and Financial Services Sales Agents." Occupational Outlook Handbook. Bureau of Labor Statistics, US Department of Labor, 17 Apr. 2024, www.bls.gov/ooh/sales/securities-commodities-and-financial-services-sales-agents.htm. Accessed 26 Aug. 2024.