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What is a stockbroker? A stockbroker has direct access to the market for trading shares. Therefore they can act as your agent to buy or sell shares, for which a fee is charged. A broker may also offer a range of other products and services including providing advice on which shares to buy or sell. Why do you need a broker? All shares listed on ASX can only be bought or sold through a broker. All stockbrokers must have a minimum two years' experience in the industry, proven business integrity, an appropriate tertiary qualification as well as a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. Stockbrokers and their representatives must comply with the ASX Business Rules and the Corporations Law. Being a broker involves passing rigorous testing and substantial investment in equipment to access ASX's markets. What do brokers do? Apart from buying or selling shares on your behalf, most advisers or stockbroking firms also offer: advice on traditional investments such as shares, debentures, government bonds and listed property trusts investment advice on a wide range of non-listed investment options (eg cash management trusts, property and equity trusts, etc) investment plans tailored to your financial needs planning, implementing and monitoring of your investment portfolio retirement planning research on national and international trends to help maximise your returns and minimise risk. |
