11103 Securities agents, investment dealers and brokers

What this occupation covers

Securities agents and investment dealers buy and sell stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers, banks, trust companies, insurance firms and other establishments. Brokers buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers. They are employed by investment companies, stock brokerage firms, stock and commodity exchanges and other establishments in the securities industry.

Official main duties

The NOC profile lists 8 main duties for this code.

• Develop long-term relationships with their clients by preparing investment strategies to help them achieve their financial goals, offering advice and information on various investments to guide them in managing their portfolios
• Review financial periodicals, stock and bond reports, business publications and other material, and develop a network within the financial industry to gather relevant information and identify potential investments for clients
• Carry out investment orders by buying and selling stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers or companies such as banks, trust companies and insurance firms
• Monitor clients' investment portfolios and ensure that investment transactions are carried out according to industry regulations.
• Buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers
• Develop trading strategies by reviewing investment information and monitoring market conditions from the exchange floor and through contact with trading departments of other investment firms, pension fund managers and investment company financial analysts
• Make bids and offers to buy and sell securities and complete details of sales on exchange trade tickets
• Prepare reviews of portfolios' positions.

Do not copy these lines into your reference letter. The letter has to describe what you actually did, in your employer’s words. DUTYPROOF flags wording lifted from the NOC as something to review, and an officer reading a letter that mirrors the NOC reads it the same way.

What DUTYPROOF screens for

This is DUTYPROOF’s screening threshold, not IRCC’s decision. For this NOC, screening requires at least 2 of its 8 official duties to be evidenced in your own words, plus the required letter elements. IRCC asks that you performed the actions in the occupation’s lead statement and a substantial number of its main duties — so treat the duty coverage as the number that matters, not the badge.

Codes this one is confused with

The NOC profile names these itself. Choosing the wrong code of a look-alike pair is the most common way genuine work experience fails to establish eligibility.

• 11101 Financial and investment analysts
• 10020 Insurance, real estate and financial brokerage managers
• 11109 Other financial officers

Excluded from this code

• Financial and investment analysts (See 11101 Financial and investment analysts)
• Financial brokerage manager (See 10020 Insurance, real estate and financial brokerage managers)
• Other financial officers (See 11109 Other financial officers)

Job titles filed under this code

A title on this list does not by itself put your experience in this code — the duties in your letter decide that.

annuity representative - investments · arbitrager · bond broker · bond dealer · bond trader · broker · commodity broker · commodity trader · discount broker · equity trader · financial broker · floor trader - commodity exchange · foreign exchange dealer · foreign exchange trader · futures trader · grain broker · grain broker - commodity trading · grain trader · independent floor trader · investment broker · investment dealer · investment representative · money market trader · mutual fund broker

Employment requirements

• A bachelor's or master's degree in economics, business or other discipline is usually required.
• A recognized financial designation may be required (CFA, CFP, CIM or others).
• Securities sales representatives and brokers require completion of industry investment and sales training programs and completion of licensing courses such as the Canadian Securities Course and the Conduct and Practices Handbook Course offered by the Canadian Securities Institute, or acceptable alternatives such as completion of one or more levels of the CFA Program, offered by CFA Institute.
• Specialized courses are also available for securities sales representatives and brokers who want to trade in specific investment products such as securities options and futures contracts.
• Licensure by the provincial securities commission in the province of employment or a recognized self-regulatory organization is required for securities agents, investment dealers and brokers.