Self-study 7 Task Fill in the blanks with an appropriate answer

Task 3. Writing : Write the summary to the given text
Stockbroker
Investors who want to buy or sell stocks, bonds, or mutual fund shares cannot actually trade in those items. They must work through registered traders or brokers, who set the complicated market machinery in motion to make a trade. Brokers charge a fee or commission for making trades. Some brokers also advise customers on which stocks to buy or sell. Brokers often help their customers plan an entire financial package that may include securities investments, life insurance, and other investments.

Other brokers may offer no services other than making the trade a customer orders. These brokers, called discount brokers, do not offer any advice. However, they do charge less for each trade

Brokers can act either for individuals or for institutions. An institutional broker carries out buy and sell orders for insurance companies, pension fund managers, and other organizations that invest millions of dollars.

While a college education is not a requirement for a stockbroker, it is becoming increasingly important. An understanding of how the stock market works is also necessary. Courses in business administration, economics, and finance are helpful. Good communications skills and a strong desire to succeed are also important. Most large firms train beginning brokers to help them pass licensing tests. The need for stockbrokers will remain strong because turnover is heavy in this highly competitive field.