Registered representatives sell financial products and services to customers. They research the market, make connections with prospective clients and build strong working relationships with existing customers. They create investment plans for their customers and offer other ways to manage their assets.
You will inform your clients about the conditions of the market and the regulations of investment opportunities. It will be your job to create your own customer base reaching out to potential clients using the platforms provided by advertisement campaigns and personal contacts. You will interview clients to assess their financial situation and understand their investment goals and opportunities.
A degree in a finance-related field may be required from candidates for this position. Analytical thinking and an affinity for numbers are a must, as is the in-depth knowledge of financial products and services the company you work for is providing. Annual salaries for this position average around $57,000.
There is more than meets the eye when it comes to being a registered representative. For example, did you know that they make an average of $29.1 an hour? That's $60,522 a year!
Between 2018 and 2028, the career is expected to grow 4% and produce 18,500 job opportunities across the U.S.
There are certain skills that many registered representatives have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, detail oriented and initiative.
When it comes to the most important skills required to be a registered representative, we found that a lot of resumes listed 23.8% of registered representatives included financial services, while 13.4% of resumes included financial products, and 8.4% of resumes included new clients. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the registered representative job title. But what industry to start with? Most registered representatives actually find jobs in the finance and insurance industries.
If you're interested in becoming a registered representative, one of the first things to consider is how much education you need. We've determined that 74.1% of registered representatives have a bachelor's degree. In terms of higher education levels, we found that 8.5% of registered representatives have master's degrees. Even though most registered representatives have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a registered representative. When we researched the most common majors for a registered representative, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on registered representative resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a registered representative. In fact, many registered representative jobs require experience in a role such as finance advisor. Meanwhile, many registered representatives also have previous career experience in roles such as account executive or sales representative.