Embarking on a career in stockbroking obviously requires a certain level of aptitude and training, but more than that, you need to have bucketloads of passion and determination. Today he is CEO of Lefika Securities, a firm he started with two partners when he could not find employment in an industry for which he had a tremendous passion.

As he said at the time, when he matriculated with good marks the only option was medicine — stockbroking was not really something career counselors spoke about.

Inspired by the TV programme Traders Mkhondo enrolled to do a course offered by the South African Institute of Stockbrokers SAIS which was a year-long course and effectively made him a qualified stock broker. Although it may have been easier to become a qualified stock broker in those days, it was virtually impossible to find a job, so Mkhondo decided to create his own job by starting his own broking business with two partners, Yolanda Boikanyo and Tebogo Shakong.

Erica Bruce of the South African Institute for Stock Brokers says when people ask her about getting into stockbroking they usually mean they want to be traders.

Personality is an important determinant in following a career as a trader; companies are looking for someone with an outgoing personality who can work easily with numbers. In order to become a trader a degree is not necessarily a requirement but it is a distinct advantage, especially to get a job in a large firm.

You do not necessarily have to have a finance-based degree — there are many engineers, for example, in stock broking — but you do need to show ability with mathematical concepts. Bruce says these are the basic requirements before you can apply for a job. If you wish to become a trader then she advises that you also write the Registered Securities Trader exam. Information on these courses can be found at www. The South African Institute of Stockbrokers is in the process of registering a formal three-year university qualification for the financial markets and is currently working with the University of Johannesburg and government to put the course together.

It will be a workplace qualification which means it will include work experience.

For more information you can email sais navigare. So he partnered with SA Stock Brokers. His new firm Lefika Securities brought the black empowerment credentials to the partnership, and SA Stock Brokers brought the infrastructure including the trading license.

Eventually Lefika Securities was successful enough to acquire its own trading license in and formed its own independent company, just in time to experience the worst trading conditions in recent history with the market collapse of However, seven years later the business is growing from strength to strength, acquiring its bond license in and recently signing an agreement with Canaccord, a London-based broker, which will provide Lefika Securities with research capability both in South Africa and globally.

Even when I met Mkhondo for the first time twelve years ago, I was struck by his passion, determination and intelligence.

He had a great deal to overcome, coming from a poor background and not having the contacts to open doors. Yet he succeeded by creating his own future. His story is an inspiration for those who have a dream, but it is also a story of hard work and commitment.

You need to demonstrate this passion by getting involved in the markets and learning about them. The best thing is to start learning about the market and investing yourself.

How to start a career in stockbroking - Maya on Money

If you do not have money to start trading look at entering the JSE Virtual Trading Game virtualtradinggame. If you are comfortable to start investing your own money, you can open an account with a stock broker that offers simulated trading and then move into trading your own money. In this way you learn and when you approach companies you will be able to show that you have knowledge, not only a passion.

Most firms do require a qualification so consider studying part time. You could also find out about getting a security job at a stock broker and ask if someone would help train you. A lot of the time it is just about finding someone who is willing to spend the time to train and that can be the hardest part; you need to prove that their investment of time and effort into you will be worthwhile. The minimum academic requirement is a BCom degree; however, preference is given to newly qualified Chartered Accountants due to their in-depth knowledge of accounting.

Computer literacy, with proficiency in MS Office, is also required. Although it is usually not a requirement at a Junior Analyst level, being a CFA charter holder is a huge advantage. To earn the CFA charter you must have four years of qualifying investment work experience, become a member of CFA Institute, pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct, apply for membership to a local CFA member society, and complete the CFA Programme.

Hence by the time they leave the world of accounting for that of investments, they would already have completed some if not all of the exams.

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About the Author Maya on Money is a collection of articles by financial journalist Maya Fisher-French; contributions from other authors and questions posted by readers. We encourage readers to post questions and add comments to create an interactive forum where people can gain information on how to better manage their money. Never Miss A Post Again! How to start a career in stockbroking November 11, What you need to get a foot in the door If you are deciding on the financial markets as a career, take time to learn about the various roles and careers and decide which one you would be best suited for.

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If you require financial advice you need to contact a registered financial advisor. Website developed by The First Step Web Design and Development. What you need to become an analyst In terms of the specific requirements for becoming an equity analyst Lucy Jones, equity analyst at Lefika Securities provides the following information: Characteristics that an analyst should have include, but are not limited to: