Brokerage clerks record the purchase and transfer of securities.
Brokerage clerks help with the sale and purchase of investments. Types of investments include:
Some clerks work with brokers and customers. The most common brokerage clerk is the broker's assistant or sales assistant. These assistants usually work for two brokers. They take calls from customers, answer questions, and take orders. They also monitor stock prices as they change throughout the day.
When clients want to buy or sell securities, clerks write up order tickets. Brokerage clerks prepare paperwork. Once the process is complete, assistants record purchases, sales, or conversions. When customers close accounts, clerks compute the value of their stock, apply brokerage fees and taxes, and pay the customers.
Some brokerage clerks work in the operations area processing the records of sales and transfers. These clerks' job titles depend upon the type of work they perform.
Purchase-and-sale clerks match orders to buy with orders to sell. They check stock trades by comparing the records of the selling firm to those of the buying firm.
Dividend clerks make sure that stock or cash dividends are paid to clients on time. Transfer clerks carry out customer requests for changes in ownership of accounts.
Margin clerks post changes and watch activity in customers' accounts. Their job is to make sure that customers make their payments and follow the rules of stock purchases.