What skills does a financial broker need?

A financial broker needs 16 essential skills including financial products, securities, economics, actuarial science, financial jurisdiction. Core competencies include .

Will AI replace financial broker jobs?

The AI disruption score for financial broker is 63/100 (high risk). Some tasks may be automated but the role will evolve rather than disappear entirely.

AccountancyBusiness and administration associate professionalsISCO 3311

financial broker

Financial brokers undertake financial market activities on behalf of their clients. They monitor securities, financial documentation of their clients, market trends and conditions and other legal requirements. They plan buying and selling activities and calculate transactions costs.

European Skills Framework

Skills and knowledge areas required for this occupation based on European classification.

Essential (16)

financial productsfinancial productsThe different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.securitiessecuritiesThe financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities whic...economicseconomicsEconomic principles and practices, financial and commodity markets, banking and the analysis of financial data.actuarial scienceactuarial scienceThe rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.financial jurisdictionfinancial jurisdictionFinancial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction.protect client interestsprotect client interestsProtect the interests and needs of a client by taking necessary actions, and researching all possibilities, to ensure that the client obtains their favoured outcome.analyse market financial trendsanalyse market financial trendsMonitor and forecast the tendencies of a financial market to move in a particular direction over time.create a financial plancreate a financial planDevelop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.synthesise financial informationsynthesise financial informationCollect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.obtain financial informationobtain financial informationGather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.advise on financial mattersadvise on financial mattersConsult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.manage financial riskmanage financial riskPredict and manage financial risks, and identify procedures to avoid or minimise their impact.apply technical communication skillsapply technical communication skillsExplain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.trade securitiestrade securitiesBuy or sell tradable financial products such as equity and debt securities on your own account or on behalf of a private customer, corporate customer or credit institution.provide financial product informationprovide financial product informationGive the customer or client information about financial products, the financial market, insurances, loans or other types of financial data.maintain financial recordsmaintain financial recordsKeep track of and finalise all formal documents representing the financial transactions of a business or project.

Optional (13)

banking activitiesbanking activitiesThe broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, fo...modern portfolio theorymodern portfolio theoryThe theory of finance that attempts to either maximise the profit of an investment equivalent to the risk taken or to reduce the risk for the expected profit of an investment by judiciously choosing t...trace financial transactionstrace financial transactionsObserve, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanag...communicate with customerscommunicate with customersRespond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.optimise financial performanceoptimise financial performanceDirect and coordinate the organisation's financial operations and budget activities, in order to optimise financial performance.provide cost benefit analysis reportsprovide cost benefit analysis reportsPrepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment i...review investment portfoliosreview investment portfoliosMeet with clients to review or update an investment portfolio and provide financial advice on investments.maintain records of financial transactionsmaintain records of financial transactionsCollate all the financial transactions done in the daily operations of a business and record them in their respective accounts.provide support in financial calculationprovide support in financial calculationProvide colleagues, clients or other parties with financial support for complex files or calculations.conduct financial auditsconduct financial auditsEvaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governabi...operate financial instrumentsoperate financial instrumentsWork with financial instruments such as stocks, bonds, mutual funds and derivatives.handle financial disputeshandle financial disputesHandle disputes between individuals or organisations, either public or corporate, which deal with financial matters, accounts, and taxation.handle financial transactionshandle financial transactionsAdminister currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.