| Topic Name: |
Private client services |
| Message Name: |
much agreement here |
| Date Posted: |
08/22/2002 |
| In Reply To: |
Because retail brokerage is not finance, it is sales. If I sell computer programs, I am not a programmer. Likewise, if I sell stocks, I am not a financier. Anyone- ANYONE - can be a retail broker if you can pick up a phone. This leads to a lot of idiots entering the field and thus a stigma has been created around retail brokers. Most brokerages have analysts that do all the portfolio work and the broker basically sells and handholds- that's it. That doesn't mean everyone in retail is incapable of doing good work in finance, but the reputation of retail brokers is such that few people would be willing to give you a chance elsewhere. I was a broker for less than a year out of college (didn't know what I was getting into), hated it, and have had a horrible time trying to move to the analytical side. I'm starting my CFA next year and that could help down the line but the reality is that you are better off not being in the industry than being a retail broker if you want to move to a real finance position.
-D |
| Message: |
I would much rather see people become accountants than retail brokers. I mean, though I don't know if an accountant is a good investor at least I know she knows how to analyze the statements.
I don't know what a retail broker knows. How to sell, which is useful, but not for an analyst.
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