Mutual Fund Broker Job Profile and Description
The Mutual Fund Broker is basically a salesperson and can be also known as a stock broker. He or she may work as a financial advisor to the investors and the corporations also by working in financial brokerage houses and performing the financial transactions as well. He or she needs to work as a broker with a pool of stocks and bonds along with a portfolio of money market funds, stock funds and income funds. Mutual fund brokers generally serve as a link to the investors with the stock exchange. They can earn by charging commissions for their service for either a buy or sell transaction.
Duties and Responsibilities
There are the following duties and responsibilities of a security analyst which have to be fulfilled:
· The broker has the prime responsibility to buy and sell mutual funds for individual investors, pension fund managers.
· He or she needs to sell the funds for the companies such as banks, trust companies and insurance firms.
· He or she has the duty to analyze the investment portfolios of clients properly.
· He or she has to suggest the clients to buy or sell certain mutual funds to provide a whole range of other services.
· The broker has to review and oversee the financial sources, stock and bond reports, annual reports, government economic trending and other materials.
· He or she has to take the important decisions on the potential investments for clients.
· It is needed to consult with the clients about the investment objectives.
· He or she also needs to make the recommendations according to the factors such as low risk securities only, or a balance of high and moderate risk securities with long term growth potential.
Skills and Specifications
The required skills and specifications are as follows:
· The person must have the ability to work with an eye for financial detail.
· He or she should be able to work with the computational accuracy for money market placements.
· He or she should have the ability to comply with the deadlines and work under pressure.
· The person needs to have the team working skills with the interpersonal skills to establish and maintain the effective working relationships.
· The person needs to have a firm ethical grounding not to engage in bogus brokering deals.
· The person needs to have a moral rectitude to disclose the real score.
· He or she should be able to work as a consultant in advising the clients about the most prudent and rewarding investment options.
Education and Qualifications
· The basic degree required to do the job is a college degree in a business or accounting field with a strong bias in Banking, Accountancy, Financial Management and Business Administration.
· The person needs to have the past 2-3 year of working experience in bourses and financing businesses is an asset.