careers.novascotia.ca

Securities Agents, Investment Dealers, and Brokers

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NOC:1113
Occupation:Securities Agents, Investment Dealers, and Brokers
Category:Business, Finance, and Administration

About the job

Nature of work:

Securities agents and investment dealers buy and sell stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers, banks, trust companies, insurance firms and other establishments. Brokers buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers. They are employed by investment companies, stock brokerage firms, stock and commodity exchanges and other establishments in the securities industry.

Job duties:
Securities agents and investment dealers perform some or all of the following duties:
  • Develop long-term relationships with their clients by preparing investment strategies to help them achieve their financial goals, offering advice and information on various investments to guide them in managing their portfolios.
  • Review financial periodicals, stock and bond reports, business publications and other material, and develop a network within the financial industry to gather relevant information and identify potential investments for clients.
  • Carry out investment orders by buying and selling stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers or companies such as banks, trust companies and insurance firms.
  • Monitor clients' investment portfolios and ensure that investment transactions are carried out according to industry regulations.
Brokers perform some or all of the following duties:
  • Buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers.
  • Develop trading strategies by reviewing investment information and monitoring market conditions from the exchange floor and through contact with trading departments of other investment firms, pension fund managers and investment company financial analysts.
  • Make bids and offers to buy and sell securities and complete details of sales on exchange trade tickets.
  • Prepare reviews of portfolios' positions.
Sample job titles:
  • commodity trader
  • financial broker
  • floor trader - commodity exchange
  • investment broker
  • investment dealer
  • mutual fund sales representative
  • registered investment representative
  • securities agent
  • stockbroker
Skills:

To work in this field, you should have excellent organizational, analytical, and communication skills, both oral and written. Good judgement, integrity, and persistence are important. You must have an aptitude for mathematics and be capable of detailed and precise work. Business skills are essential.

Job requirements:
  • A bachelor's or master's degree in economics, business or other discipline is usually required.
  • Securities sales representatives and brokers require completion of industry investment and sales training programs and completion of the Canadian Securities course and the Registered Representative Manual Exam offered by the Canadian Securities Institute.
  • Specialized courses are also available for securities sales representatives and brokers who want to trade in specific investment products such as securities options and futures contracts.
  • Licensure by the provincial securities commission in the province of employment is required for securities agents, investment dealers and brokers.
Other considerations:

Progression to related management positions is possible with experience.

Labour Market Information

Work Prospects:Fair

The employment outlook over the next few years for this occupational group is “average”, which indicates the chances of a qualified individual finding work is comparable to the average for all occupations in Nova Scotia. This is not a large occupation in Nova Scotia so job opportunities may not be that frequent. The number employed in this occupation is expected to grow moderately over the next few years, which will likely provide some additional opportunities for employment. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Securities Agents, Investment Dealers, and Brokers most commonly work full-time hours. Furthermore, the jobs are typically permanent positions. Also, a fair portion of the workforce is self-employed, so having the option to "work for yourself" may appeal to some individuals’ interests/motivations.

The median employment income for 78% of Securities Agents, Investment Dealers, and Brokers who worked full-time, year-round in 2015 was $50,282. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)

OccupationEstimated employment in 2018Estimated change in employment between 2017 and 2019Estimated openings due to growth and retirements, 2017-2019Estimated rate of unemployment in 2018 Estimated hourly earnings in 2015 (learn more)Estimated annual earnings in 2015
Securities Agents, Investment Dealers, and Brokers115Moderate growth40Low
Minimum:  N/A
Median:  N/A
Maximum:  N/A
Minimum:  N/A
Median: $42,278
Maximum:  N/A
Occupations in Business, Finance, and Administration63,775Moderate growth6,600Low
Minimum: $13.00
Median: $21.03
Maximum: $35.90
Minimum: $6,754
Median: $36,515
Maximum: $70,271
Securities Agents, Investment Dealers, and BrokersCompared to: Occupations in Business, Finance, and Administration
Percent employed full-time100%81%
Percent self-employed33%7%
Where will I likely work?
Area of EmploymentSecurities Agents, Investment Dealers, and BrokersCompared to: All NS Occupations
% EmployedMedian Annual Income% EmployedMedian Annual Income
Southern8%x12%$30,581
Northern15%x16%$33,660
Cape Breton8%x13%$32,974
Halifax73%$105,50547%$41,209
Annapolis Valley8%x13%$32,958
What are the workers like?
AgeSecurities Agents, Investment Dealers, and BrokersCompared to: All Business, Finance, and Administration
% Employed% Employed
15-2420%x
25-3420%6%
35-44x19%
45-5420%36%
55-6430%28%
65+x11%
Median Age5548
GenderSecurities Agents, Investment Dealers, and BrokersCompared to: Occupations in Business, Finance, and Administration
% Employed% Employed
Female38%73%
Male62%27%
EducationSecurities Agents, Investment Dealers, and BrokersCompared to: All Business, Finance, and Administration
% EmployedMedian Annual Income% EmployedMedian Annual Income
Less than high schoolxx4.7%$23,775
High school8.7%$34,95223.7%$30,074
Trades certificatexx5.8%$32,871
College certificate or diploma26.1%$52,02234.4%$33,837
University certificate or diplomaxx3.0%$35,053
Bachelor's degree56.5%$55,77622.9%$39,473
University advanced certificate or diplomaxx1.7%$40,672
Master's degreex$75,1723.6%$23,407
Doctoratexx0.2%$48,614
Medicine, dentistry, veterinary, optometryxx0.1%$41,688
Total100%100%
Wage Disclaimer

Hourly earnings data are from the Labour Force Survey by Statistics Canada. Data are not available for all occupations. Hourly earnings are calculated based on usual hours worked per week. This is how an annual salary, for instance, gets converted to an hourly rate. The data include full and part-time workers along with new and experienced workers. Self-employed workers are excluded.

Annual employment income data reported in the Work Prospects section, are from the 2011 National Household Survey by Statistics Canada. Much of the data (around 70%) came directly from tax records. The data relates to the year 2010 and includes total wages and salaries and net income from self-employment.

Sources

Employment Requirements & Contacts

Regulations:
Securities Agents, Investment Dealers, and Brokers
Right to Practice:This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to work in this job.
Regulating body:
Nova Scotia Securities Commission
PO Box 458
Halifax, NS B3J 2P8
(855) 424-2499
(902) 424-4625
NSSCinquiries@novascotia.ca
Useful contacts:
Investment Industry Regulatory Organization of Canada
Suite 2000, 121 King Street West
Toronto, ON M5H 3T9
Tel: (416) 364-6133
Fax: (416) 364-0753
InvestorInquiries@iiroc.ca
Nova Scotia Securities Commission
PO Box 458
Halifax, NS B3J 2P8
Tel: (902) 424-7768
Fax: (902) 424-4625
NSSCinquiries@novascotia.ca
Canadian Securities Institute
200 Wellington Street West, 15th Floor
Toronto, ON M5V 3C7
Tel: (866) 866-2601
Fax: (866) 866-2660
customer_support@csi.ca
CFA Institute
915 East High Street 
Charlottesville, VA - USA 22902
Tel: (800) 247-8132
Fax: (434) 951-5262
info@cfainstitute.org

Training Paths & Education

Program Name:Applied economics
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources. These programs include courses in economic theory; microeconomic analysis and modelling of specific industries and commodities; the economic consequences of resource allocation decisions; regulatory and consumer factors; and the technical aspects of specific subjects as they relate to economic analysis.
See all institutions providing this program+
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Program Name:Business administration and management - General
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program that generally prepares individuals to plan, organize, direct, and control the functions and processes of a firm or organization. These programs include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.
See all institutions providing this program+
Maritime Business College - Dartmouth
45 Ochterloney Street, Suite 100
Dartmouth, NS B2Y 2N6
(902) 463-6700
admissions@maritimebusinesscollege.ca
Eastern College - Halifax
6940 Mumford Road, Suite 111
Halifax, NS B3L 0B7
(902) 423-3933
Success College
800 Sackville Drive
Lower Sackville, NS B4E 1R8
(902) 865-8283
Academy of Learning - Halifax
6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre
Halifax, NS B3L 4P1
(902) 455-3395
careers@aolhrm.com
Acadia University
15 University Avenue
Wolfville, NS B4P 2R6
(902) 542-2201
agi@acadiau.ca
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
Universite Sainte-Anne
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
Blanche.Theriault@usainteanne.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Nova Scotia Community College - Cumberland Campus
PO Box 550, 1 Main Street
Springhill, NS B0M 1X0
(902) 597-3737
cumberland.info@nscc.ca
Nova Scotia Community College - Burridge Campus
372 Pleasant Street
Yarmouth, NS B5A 2L2
(902) 742-3501
burridge.info@nscc.ca
Nova Scotia Community College - Kingstec Campus
236 Belcher Street
Kentville, NS B4N 0A6
(902) 678-7341
kingstec.info@nscc.ca
Nova Scotia Community College - Lunenburg Campus
75 High Street
Bridgewater, NS B4V 1V8
(902) 543-4608
lunenburg.info@nscc.ca
Nova Scotia Community College - Pictou Campus & School of Fisheries
PO Box 820, 39 Acadia Avenue
Stellarton, NS B0K 1S0
(902) 752-2002
pictou.info@nscc.ca
Nova Scotia Community College - Strait Area Campus & Nautical Institute
226 Reeves Street
Port Hawkesbury, NS B9A 2A2
(902) 625-2380
strait.info@nscc.ca
Nova Scotia Community College - Marconi Campus
PO Box 1042, 1240 Grand Lake Road
Sydney, NS B1P 6J7
(902) 563-2450
marconi.info@nscc.ca
Nova Scotia Community College - Truro Campus
36 Arthur Street
Truro, NS B2N 1X5
(902) 893-5385
truro.info@nscc.ca
Nova Scotia Community College - Waterfront Campus & Aviation Institute
80 Mawiomi Place
Dartmouth, NS B2Y 0A5
(902) 491-1100
waterfront.info@nscc.ca
Nova Scotia Community College - Online Learning
Unit 37, 115 Chain Lake Drive
Halifax, NS B3S 1B3
(877) 491-6774
online.learning@nscc.ca
Program Name:Business administration, management and operations - Other
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program not listed above that relates to Business Administration, Management and Operations.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Program Name:Business/commerce - General
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program that focuses on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. The program prepares individuals to apply business principles and techniques in various occupational settings.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Universite Sainte-Anne
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
Blanche.Theriault@usainteanne.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Program Name:Economics - General
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any general program that focuses on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. These programs include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.
See all institutions providing this program+
Acadia University
15 University Avenue
Wolfville, NS B4P 2R6
(902) 542-2201
agi@acadiau.ca
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Program Name:Investments and securities
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that prepares individuals to manage assets placed in capital markets, and related technical operations. These programs include courses in security analysis, debt and equity analysis, investment strategies, securities markets, computer-assisted research, portfolio management, portfolio performance analysis, and applications to specific investment problems and business situations.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Additional resources: