Lots Going For Brokers

Sun Herald

Sunday September 3, 2000

By HANNAH EDWARDS

THE adrenaline-charged days of yelling and gesticulating wildly from the trading floor are over but Macquarie Bank analyst Lucinda Chan still holds a passion for the finance industry.

``Now it's whoever pushes the button first gets the deal," said Ms Chan, associate director and head of retail for Macquarie Financial Services. ``There is no camaraderie. But it is more efficient."

Ms Chan said it was essential that stockbrokers loved figures and number-crunching if they wanted to work with the sharemarket.

``You must understand and enjoy finance and `selling' companies. All of the financial figures and information can be very dry. You must be interested in helping people design investment portfolios."

Coping with stress and having a good memory were also important in the often hectic and high-pressured industry.

Ms Chan said it was essential that stockbrokers had a business background to help them comprehend the masses of financial reports, balance sheets and profit and loss statements encountered daily.

Financial training allows the stockbroker to interpret and explain annual reports and business prospectuses to clients.

``You need to know how to break down numbers. You must know what makes companies tick," she said.

Ms Chan received a business and economics degree from the University of NSW and is ``still getting educated" at the Securities Institute of Australia.

``You can never get enough education in our job. That's why it's interesting," she said.

As a stockbroker, there are not many 9-5 work days. Ms Chan is at her desk by 7.30am so she can catch up with overnight market reports before the stock market opens for the day.

She reads the Bloomberg news, checks commodity prices and the Nasdaq to find out what happened overnight.

At 8.15am, a time when many are still on their way to work, Ms Chan attends a sales and strategies meeting with other department analysts.

Back at her desk at 8.45am, she usually has about 10 phone messages to respond to.

When the markets open at 10am Ms Chan's attention turns to her clients and their broking requirements.

``From 10am until the market closes at 4pm, I concentrate every strength into helping people organise portfolios and advising them what to buy and sell," she said.

Most universities offer undergraduate degrees in business, finance or commerce.

The Securities Institute of Australia (SIA) offers a range of diplomas and certificates for graduates and non-graduates.

There are several open-entry programs designed for school-leavers and people of all ages who do not hold a degree.

These include diplomas in financial marketing and advising where students can choose from a wide range of subjects according to their particular area of interest.

Many post-graduate students also attend SIA courses in order to get a specific qualification or brush up in a particular area once they have secured a job in the industry.

For more information on SIA courses, phone 02 9251 6122 or visit the website www.securities.edu.au.