Investment advisor, Direct Broking Ltd

Brett Wilkinson says a successful broker is a passionate one. Picture / Graeme Sedal

Name: Brett Wilkinson
Age: 50
Role: Investment advisor, Direct Broking Ltd
Working hours: 24 hours a day; but 8.30am through to 6pm in the office
Average pay: $150,000 - $250,000
Qualifications: New Zealand Stock Exchange share broking license

Describe how you got this job.

I had been an investor from the age of 15 and was lucky that my broker gave me a position as a trainee share broker when I returned from overseas.

Describe what you do.

Most brokers these days are portfolio brokers with funds under management. I have been fortunate to participate in other areas that are perhaps more merchant banking related, such as instigating placements, new floats and back door listings.

The job involves making appointments and visiting people, talking about the services of portfolio monitoring and providing research to back up buying and selling shares and recommendations as to diversification into fixed interest. It's about matching up a portfolio to meet the client's risk profile and investment requirements. A portfolio would normally be $50,000 or more.

What have you had to do to succeed at this job?

Skill in calling a market, personality, hard work and with time I have built up a good range of contacts .

The more ability you have to make money for clients, the more business they generate and the more referrals you get. Share broking is a personality business as well in so much as there is a certain amount of door knocking required.

What sort of training or experience do you need?

A sound knowledge of market fundamentals as per the New Zealand Stock Exchange qualifications. Fundamental and technical analysis, portfolio construction and in my books a sound understanding of that four-letter word - risk.

What skills and qualities do you need?

Communications skills, investment skills, and the ability to execute orders and administrate. Brokers tend to be people people, as we are dealing with clients on a day-to-day basis. Each broker builds their own business and you need to give good service or that would fail.

Best part of the job?

Making money for clients, achieving objectives and remembering to celebrate the wins. On a personal note, one of the most satisfying areas for me has been seeing young people I have worked with develop their broking careers.

Most challenging part?

Calling the market correctly.

How do you define success in this job?

Success is a personal thing, but in the strict meaning of the word the most successful brokers are the biggest brokerage writers. It's pretty clear cut in this industry.

What are your career hopes for future?

I would like to continue to build my skill base in the small to medium-sized corporate market. To assist companies with pre-IPO (initial public offering) funding to bring companies to the market.

If I wanted a job like yours how would I go about it, and what qualifications would I need?

Make an appointment and let's have a chat. Today a commerce degree would be considered beneficial, although anyone can still work their way up through the ranks like I did. I have seen several young people join us without much in the way of formal qualifications and go on to become well respected in the industry. Obviously those in the analytical and research departments would need formal qualifications.

What advice would you have for someone contemplating a career like yours?

To my way of thinking, anyone who has a passion for what they do will be successful, be it commerce, arts or sport. If you have passion you are halfway there. A commerce degree would lend itself to the sharebroking industry, but it is not absolutely necessary.

People who are successful in the New Zealand Stock Exchange examinations will have a good grounding for this industry. Go on work experience at a brokerage. You've got to like the share market and dealing in shares. If somebody came to me for a job I would like to know they were following the market and buying and selling their own shares.