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Stock Broker

Stock Broker. By: Andre Bliss. Table of Contents. Stockbroker History Similar jobs Transactions of brokers Brokerage terms Famous brokers. Stockbroker. Definition - matches up buyers and sellers of stock. A transaction of stock must be made by two members of the exchange.

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Stock Broker

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  1. Stock Broker By: Andre Bliss

  2. Table of Contents • Stockbroker • History • Similar jobs • Transactions of brokers • Brokerage terms • Famous brokers

  3. Stockbroker • Definition- matches up buyers and sellers of stock. A transaction of stock must be made by two members of the exchange. • Function- not only do stockbrokers trade stock for their clients, they also provide information.

  4. History • Philadelphia was the center of American finance in the early history of the United States. • New York City then became the center of the finance world. • Wall Street is now synonymous when it comes to stock brokerage business

  5. Similar Jobs and Associated Careers • Investment Advisor • Financial Advisor • Certified Financial Planner • Insurance Agent • Real Estate Agent

  6. Transactions of Brokers • In the US: Brokers charge a commission when acting as a principal • In the UK: Brokers never charge commission when acting as a principal

  7. Brokerage Terms • Front office- Part of brokerage firm that is client facing • Back office- where the clearance processing of the trades is done • Prime brokerage- service sold by investment banks to hedge funds • Retail broker- brokerage firm that caters to the average investor • Low cost broker- discount brokerage that functions in a similar way to a dividend reinvestment program

  8. Famous Brokers • Larry "Buster" Crabbe - Actor and former Olympic swimmer, Crabbe became a stockbroker and businessman after a career in film. • Brian Dennehy - An actor, Dennehy worked as a broker for a time at the same firm as Martha Stewart. • Edward Francis Hutton - Founder of the firm known for its slogan: "When E. F. Hutton talks, people listen." In the late '20s and early '30s, Hutton was married to cereal heiress Marjorie Merriweather Post. Hutton's daughter with Post was actress Dina Merrill, the one-time wife of actor Cliff Robertson. Hutton's namesake firm imploded into bankruptcy in the 1970s. • Michael Milken - The financier came to fame at Drexel Burnham Lambert in the 1980s. • George Murphy - Silent film and early talkies star Murphy worked for a time as a Wall Street runner. • William A. Paine - co-founder of Paine Webber. • Hemish Shah - Late English poker player, who left stocks for poker, going on to win a World Series of Poker bracelet. • Martha Stewart - After she gave up modelling in the late 60s, Stewart worked as a broker on Wall Street for 7-8 years before launching her lifestyle business. (http://en.wikipedia.org/wiki/Stock_broker)

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