Financial dealers and brokers conduct financial market transactions on behalf of clients and offer advice on financial matters.
To become a financial dealer and broker you usually have to complete a degree in commerce, accounting, finance, economics or actuarial studies at university. Entry to this occupation may be improved if you have a double degree (possibly combining a relevant field with law). To get into these courses you usually need to gain your Senior Secondary Certificate of Education. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. Most universities in Australia offer degrees in these areas. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the institutions you are interested in for more information. For full details, refer to the entries on the website at www.goodcareersguide.com.au or university handbooks.
Financial dealers and brokers may perform the following tasks:
Entry to this career is competitive. Firms usually recruit applicants who can demonstrate a strong academic background. It takes some time to gain the experience required for advancement, and many firms demand specialised qualifications or relevant experience. Financial dealers and brokers work in stockbroking firms, financial planning organisations, banks, building societies, accounting and law practices and other organisations within the finance and investment sector. While there is an increasing demand throughout the country for financial services, banks and other financial institutions are increasingly focusing their dealer functions in their head offices in Brisbane, Sydney and Melbourne.
A commodities trader brings together buyers and sellers of commodities to negotiate private sales and arrange sales through established marketplaces.
A financial market broker arranges financial transactions in the wholesale financial markets between institutional buyers and sellers for a commission.
A financial market dealer buys and sells financial products within the financial market, and trades and distributes financial securities on behalf of financial institutions.
An investment banker/merchant banker offers financial products and services, handles large financial transactions and operates as an intermediary in the professional and commercial sectors of the finance industry. They are also involved in the money market, corporate lending and investment banking.