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Starting Your Career in Finance with Quarterly Snapshots and IPOs

Prime brokers

Understanding the world of finance is no easy task. From quarterly snapshots to hedge funds to prime brokerage services for professional traders, the complex intricacies of financial business is not for those unwilling to put in a great deal of work and dedication. But the ambitious go to where there is money, and if you are pretty savvy with money and tend to give sound financial advice, you may feel inclined to pursue a career as a stockbroker.

Starting simple in the finance world

If you are planning on working with prime brokers at some point, you should probably know what a quarterly snapshot is, or what expectations exist for hedge fund sales, or what the lock up period for an IPO is. A quarterly snapshot may be easy enough to figure out, as it is basically exactly what is sounds like: a quick look at the financial reports from a specific three months and based on that information, further projections for that company. But from there it’s going to take quite a bit more work to figure out.

Getting familiar with IPOs, or initial public offerings, is a good place to start. The term became widely known and used in the stock market scene in the late 1990s. An IPO is a company’s very first sale of stock to the public market. Lock up periods between the underwriters and insiders of that particular company are legally binding and can last for anywhere from three month to two years. These contracts ban the sale of any shares for that period. When the sale is offered, it is usually around 10% to 15% of the company.

Pursuing a career as broker

So you handle money well. And you can remain collected and focused under the pressure of handling substantial amounts of other people’s money. What’s next for you? While some brokerage firms prefer to see that you have some education, background, or experience in business or finance, not every firm requires their brokers to have a degree. What you should have is a clean record, both financially and legally. Any criminal activity in your past will be carefully examined and likely result in the failure to launch your hopeful career, just as any bankruptcies, defaulted loans, or similar financial issues do not bode well for you if you are hoping to make it in this field.

A career in the financial world is a long term commitment and goal that requires a lot of determination, foresight, patience, and capacity to continually learn as you go. If you have those qualities, along with the passion and the drive to get yourself there, you could very well succeed in the financial world.

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