What does a Broker do?

Stock brokers are professional traders who buy and sell shares and securities on the behalf of their clients. They work for themselves or at firms, and some also buy and sell bonds or other financial instruments and products for their clients. They are required to concentrate on making investment calls through the price fluctuations of different stocks on the market, and they buy and sell shares of stock over both the short and long terms.

Stock brokers are also known as share brokers, registered representatives, investment brokers, or trading representatives. They evaluate the performance of shares and securities on the stock market and give client recommendations from their findings. If they need to, they will make adjustments in client investments and products according to market fluctuations or changes in lifestyle, including a loss of employment, critical financial setbacks, or the death or injury of a loved one. Stock brokers need a high school diploma and a bachelor’s degree in finance or business administration and must pass further exams to earn a professional license to practice.

What responsibilities are common for Broker jobs?
  • Manage the annual renewal process, including preparing and marketing renewal submissions and handling renewal order processing.
  • Develop strong relationships with their portfolio of brokerages and associations.
  • Support the team phone and email queue as needed.
  • Draft submission cover letters, organize submission documentation, and review client submissions prior to sending to market.
  • Market large brokerage professional lines accounts to appropriate wholesale carriers with the end goal of quoting and binding accounts.
  • Assist in process-improvement initiatives at the direction of the assigned brokerage team leader.
  • Maintain positive working relationships and clear communication with co-workers, clients and insurance carriers.
  • Develop and maintain details of all Producer/Broker compensation arrangements.
  • Act as an intermediary in the sale of the business between all parties.
  • Actively participate in business development creating brand awareness and referrals.
  • Seek to improve in all aspects of work performance.
  • Build, implement and manage all systems for clients, lead generation, database management, and back-office support.
  • Responsible for a territory; manage contacts and exercise long-term vision approach.
  • Communicate and monitor downline agency sales goals against production within their book of business.
  • Conduct advertised sales presentations for prospects and leverage community partnerships to host events.
  • Produce campaign and event tracking reports showing return on investments and key initiatives.
  • Coordinate effectively with appropriate teams for lead management and sales functions.
  • Ability to collaborate well both internally and externally to support achievement of market objectives.
  • Shadow senior brokers in transaction negotiation, evaluation and documentation.
  • Listen to client calls and help field client requests.
What are the typical qualifications for Broker jobs?
  • Bachelor's Degree in business, business administration or finance.
  • Demonstrated problem solving and decision making skills.
  • Can prioritize tasks and pay strict attention to detail.
  • Prior experience as a consultant.
  • Experience with EDI, C, and C# software and systems.
  • Strive for continuous improvement.
  • Can collaborate with clients and team members for decision making exercises.
  • Is comfortable running month-end close reporting.
  • Demonstrated sound judgment and product knowledge.
  • A creative thinker with strong negotiation skills.
Education--
Work/Life Balance
3.7 ★
Total Pay--
Career Opportunity
3.7 ★
Avg. Experience2-4 years

How much does a Broker make?

Broker Career Path

Learn how to become a Broker, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Average Years of Experience

0 - 1
20%
2 - 4
72%
5 - 7
8%
8+
0%
Not including years spent in education and/or training
See Career Path

Broker Insights

Read what Broker professionals have to say about their job experiences and view top companies for this career.
BionicBionic
Junior Broker
May 4, 2021

“the training was amazing and really bettered me as a person not just work wise.”

EZPAWNEZPAWN
Shift Lead/Pawn Broker
Jan 15, 2022

“Yes it was a good little portion out but the flex paying card was the best!!!”

Atlas Real EstateAtlas Real Estate
Associate Broker
Sep 2, 2020

“This company is top notch and I am proud to be a part of its growth.”

FedExFedEx
Clearance Broker Associate
Dec 10, 2020

“I worked for FedEx in Europe and there were no opportunities to receive raises based on performance.”

ClarksonsClarksons
Broker
Jun 13, 2022

“Smaller companies may pay better but if you do well will be paid reasonably well.”

BDO USABDO USA
Senior IT Risk Advisor
Feb 3, 2021

“Not the best benefits in terms of giving money for health related things i.e. gym”

Chedid Capital-Holding
Reinsurance Broker
May 28, 2021

“Stable and good job security”

Nolan Transportation GroupNolan Transportation Group
Broker
Mar 29, 2022

“Be prepared to not get much sleep and have no real work / life balance.”

See More

Broker Interviews

Frequently asked questions about the roles and responsibilities of a Broker

The most similar professions to Broker are:
  • Broker
  • Equity Trader
  • Portfolio Manager
  • Trader

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