November 6, 2012 by Bill Johnson
That sounds like a great reality show, doesn’t it? That might even be an interesting premise for a weeknight drama. How do you think a stockbroker from the east coast would compare to one over on the west coast? Who would perform better, and which one would you want managing your funds?
Let’s first examine what a stockbroker actually does. A stockbroker’s duties include:
1. Buying and selling stocks for their clients.
2. Provide their clients with useful financial advice that will allow them to see the greatest return on their various investments.
3. Ensure that the financial strategies used by each individual client have been tailored to suit their needs.
4. Making sure the client understands the market’s current situation and how their portfolios will be affected by it.
5. Advising their clients as to how to adjust their strategies based on his or her long-term or short-term goals.
6. Keeping abreast of all of the latest investment techniques and research to create the best financial strategies for their clients.
7. Equipping their clients with as many tools and information as possible to allow them to make wise decisions with their funds.
8. Opening business Checking Account for your small business.
Truth be told, finances are a boring topic to discuss for most individuals. Sports, fashion, politics, celebrity gossip—you name it, and the average person would rather discuss that topic than their own finances. Unless you understand the markets—and let’s face it, not many people do—money matters are extraordinarily dull. It takes a special individual with a mathematically inclined mentality to want to eat, sleep, and breath finances.
This is the reason why the stockbroker is so indispensable. Nobody wants to mess with their money, but if nobody does, then who will? They don’t want to have to keep track of all of those stocks and bonds, whose shares are skyrocketing and whose are tanking. So they hire somebody else to do it for them. They would rather put their money under the jurisdiction of a stranger than try to figure things out for themselves.
But these strangers aren’t just people. Stockbrokers often have college degrees in business and economics. They go through rigorous training programs with established brokerage firms to make sure they are in tiptop shape for potential clients. Then, they have to pass difficult exams in order to obtain their license.
Now that you have a general notion of what a stockbroker does, here are a few characteristics of east-coaster and west-coaster, respectively so that you can decide for yourself who would do the better job.
East-coasters are generally thought of as being:
- Uptight—hence the perpetual cell phone to ear
- Stressed—see previous example
- Self-absorbed/indifferent to the wants or needs of fellow citizens/coworkers/etc.
- Formal—suit, tie…the whole nine yards
- Less likely to do arts and crafts
- More likely to be family-oriented
West coasters are more likely to be thought of as:
- Peaceful—think hippie
- “Free spirits”—may or may not mean dislikes bathing
- More concerned about the environment
- Better attitudes about their careers
- More likely to engage in arts and crafts
All of the attributes listed for west and east coasters here are based on information gathered by Copernicus Marketing Consulting and Research. Except for the “helpful” additional tidbits provided by the author in order to help the reader make the best conclusion possible as to who would be the better stockbroker—lighten up, people.