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Career and Education Opportunities for Broker Assistants in Minneapolis, Minnesota

There is a wide variety of career and education opportunities for broker assistants in the Minneapolis, Minnesota area. About 2,580 people are currently employed as broker assistants in Minnesota. By 2016, this is expected to grow by 9% to about 2,810 people employed. This is better than the nation as a whole, where employment opportunities for broker assistants are expected to shrink by about 2.6%. In general, broker assistants perform clerical duties involving the purchase or sale of securities.

Broker assistants earn approximately $19 hourly or $41,310 annually on average in Minnesota. Nationally they average about $18 hourly or $38,710 annually. Earnings for broker assistants are better than earnings in the general category of Clerical in Minnesota and better than general Clerical category earnings nationally.

There are seven schools within twenty-five miles of Minneapolis where you can study to be a broker assistant, among eighty schools of higher education total in the Minneapolis area. The most common level of education for broker assistants is a Bachelor's degree. You can expect to spend about four years studying to be a broker assistant if you already have a high school diploma.

CAREER DESCRIPTION: Broker Assistant

Broker Assistant video from the State of New Jersey Dept. of Labor and Workforce Development

In general, broker assistants perform clerical duties involving the purchase or sale of securities. They also duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, and keeping records of daily transactions and holdings.

Broker assistants file and operate standard office machines. Finally, broker assistants correspond with customers and talk with coworkers to respond to inquiries, consider market fluctuations, and resolve account problems.

Every day, broker assistants are expected to be able to see details at a very fine level of focus. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.

It is important for broker assistants to record and document security transactions, such as purchases and payments, using computers or certificate archives. They are often called upon to schedule and direct transfer and delivery of security certificates between companies and customers. They also ready forms, such as receipts and transfer confirmations, on the basis of transaction requests from stockholders. Somewhat less frequently, broker assistants are also expected to ready reports summarizing daily transactions and earnings for individual customer accounts.

Broker assistants sometimes are asked to compute total holdings and commissions and allocate appropriate payments to customers. They also have to be able to correspond with customers and talk with coworkers to respond to inquiries, consider market fluctuations, and resolve account problems And finally, they sometimes have to monitor daily stock prices and compute fluctuations to establish the need for additional collateral to secure loans.

Like many other jobs, broker assistants must have exceptional integrity and be reliable.

Similar jobs with educational opportunities in Minneapolis include:

  • Bank Teller. Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
  • Bookkeeper. Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
  • Clerk. Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines.
  • Correspondence Clerk. Compose letters in reply to requests for merchandise, damage claims, credit and other information, delinquent accounts, or unsatisfactory services. Duties may include gathering data to formulate reply and typing correspondence.
  • Courtroom Clerk. Perform clerical duties in court of law; prepare docket of cases to be called; secure information for judges; and contact witnesses, attorneys, and litigants to obtain information for court.
  • File Clerk. File correspondence, cards, and other records in alphabetical or numerical order or according to the filing system used. Locate and remove material from file when requested.
  • Front Desk Manager. Accommodate hotel, motel, and resort patrons by registering and assigning rooms to guests, issuing room keys, transmitting and receiving messages, keeping records of occupied rooms and guests' accounts, making and confirming reservations, and presenting statements to and collecting payments from departing guests.
  • Insurance Claims Processor. Obtain information from insured or designated persons for purpose of settling claim with insurance carrier.
  • Insurance Processing Clerk. Process applications for, changes to, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.
  • Library Clerk. Compile records, sort and shelve books, and issue and receive library materials such as pictures, cards, slides and microfilm. Locate library materials for loan and replace material in shelving area, stacks, or files according to identification number and title. Register patrons to permit them to borrow books, periodicals, and other library materials.
  • License Clerk. Issue licenses or permits to qualified applicants. Obtain necessary information; record data; advise applicants on requirements; collect fees; and issue licenses. May conduct oral, written, or performance testing.
  • Loan Inspector. Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
  • Municipal Clerk. Draft agendas and bylaws for town or city council; record minutes of council meetings; answer official correspondence; keep fiscal records and accounts; and prepare reports on civic needs.
  • Office Clerk. Perform duties too varied and diverse to be classified in any specific office clerical occupation, requiring limited knowledge of office management systems and procedures. Clerical duties may be assigned in accordance with the office procedures of individual establishments and may include a combination of answering telephones, bookkeeping, typing or word processing, stenography, office machine operation, and filing.
  • Order Clerk. Receive and process incoming orders for materials, merchandise, or services such as repairs, installations, or rental of facilities. Duties include informing customers of receipt, prices, and delays; preparing contracts; and handling complaints.
  • Payroll Bookkeeper. Compile and post employee time and payroll data. May compute employees' time worked, production, and commission. May compute and post wages and deductions. May prepare paychecks.
  • Procurement Clerk. Compile information and records to draw up purchase orders for procurement of materials and services.
  • Receptionist. Answer inquiries and obtain information for general public, customers, and other interested parties. Provide information regarding activities conducted at establishment; location of departments, offices, and employees within organization.
  • Statistical Clerk. Compile and compute data according to statistical formulas for use in statistical studies. May perform actuarial computations and compile charts and graphs for use by actuaries. Includes actuarial clerks.
  • Store Clerk. Receive, store, and issue sales floor merchandise. Stock shelves, racks, and tables with merchandise and arrange merchandise displays to attract customers. May periodically take physical count of stock or check and mark merchandise.
  • Weighter. Weigh, measure, and check materials, supplies, and equipment for the purpose of keeping relevant records. Duties are primarily clerical by nature.

EDUCATIONAL OPPORTUNITIES: Broker Assistant Training

Anoka-Ramsey Community College - Coon Rapids, MN

Anoka-Ramsey Community College, 11200 Mississippi Blvd. NW, Coon Rapids, MN 55433-3470. Anoka-Ramsey Community College is a medium sized college located in Coon Rapids, Minnesota. It is a public school with primarily 2-year programs and has 8,253 students. Anoka-Ramsey Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

North Hennepin Community College - Brooklyn Park, MN

North Hennepin Community College, 7411 85th Ave N, Brooklyn Park, MN 55445. North Hennepin Community College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 6,904 students. North Hennepin Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated ten and seven students respectively in 2008.

Hennepin Technical College - Brooklyn Park, MN

Hennepin Technical College, 9000 Brooklyn Blvd, Brooklyn Park, MN 55445. Hennepin Technical College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 5,617 students. Hennepin Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated thirteen students in 2008.

Dakota County Technical College - Rosemount, MN

Dakota County Technical College, 1300 145th Street East, Rosemount, MN 55068-2999. Dakota County Technical College is a small college located in Rosemount, Minnesota. It is a public school with primarily 2-year programs and has 2,919 students. Dakota County Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated three students in 2008.

Century Community and Technical College - White Bear Lake, MN

Century Community and Technical College, 3300 Century Ave N, White Bear Lake, MN 55110. Century Community and Technical College is a medium sized college located in White Bear Lake, Minnesota. It is a public school with primarily 2-year programs and has 9,384 students. Century Community and Technical College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Minneapolis Community and Technical College - Minneapolis, MN

Minneapolis Community and Technical College, 1501 Hennepin Ave, Minneapolis, MN 55403-1779. Minneapolis Community and Technical College is a medium sized college located in Minneapolis, Minnesota. It is a public school with primarily 2-year programs and has 9,539 students. Minneapolis Community and Technical College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Anoka Technical College - Anoka, MN

Anoka Technical College, 1355 W Hwy 10, Anoka, MN 55303. Anoka Technical College is a small college located in Anoka, Minnesota. It is a public school with primarily 2-year programs and has 2,072 students. Anoka Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

LOCATION INFORMATION: Minneapolis, Minnesota

Minneapolis, Minnesota
Minneapolis, Minnesota photo by BenFranske

Minneapolis is situated in Hennepin County, Minnesota. It has a population of over 382,605. The cost of living index in Minneapolis, 101, is near the national average. New single-family homes in Minneapolis are priced at $451,300 on average, which is far greater than the state average. In 2008, forty-five new homes were constructed in Minneapolis, down from one hundred fifteen the previous year.

The top three industries for women in Minneapolis are health care, educational services, and accommodation and food services. For men, it is educational services, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 22 minutes. More than 37.4% of Minneapolis residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.1%, is higher than the state average.

The unemployment rate in Minneapolis is 7.0%, which is the same as Minnesota's average of 7.0%.

The percentage of Minneapolis residents that are affiliated with a religious congregation, 57.7%, is more than the national average but less than the state average. The largest religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Minneapolis is home to the Saint Josephs Orphanage and the Hiawatha Municipal Golf Course as well as Beards Plaisance and Mississippi Park. Visitors to Minneapolis can choose from COE Mansion Carriage House, Radisson Hotel Metrodome and Best Western Kelly Inn for temporary stays in the area.