Insurance broker to securities broker
An insurance broker already meets 32% of what the securities broker role asks for. The move turns on 13 required skills not yet in the profile.
65.6/ 100
1 How much of what a securities broker is expected to do is already part of an insurance broker’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the securities broker role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
A securities broker role treats 7 of its required skills as things an insurance broker already does. You would walk in with these on day one.
- actuarial science
- advise on financial matters
- apply technical communication skills
- financial products
- handle financial transactions
- maintain records of financial transactions
What stands in the way is 13 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 10 skills that carry over, these are the ones fewest other occupations ask for. A securities broker role needs them, and most people applying for one will not have them already. This is the part of an insurance broker background worth leading with.
- already held modern portfolio theory business, administration and law
- already held maintain records of financial transactions information skills
- already held protect client interests communication, collaboration and creativity
- already held actuarial science natural sciences, mathematics and statistics
- already held financial products business, administration and law
- already held tax legislation business, administration and law
All 10 carried skills, including the 7 the securities broker role treats as required.
Table 3 · What you may need to learn
The 24 missing skills fall into 7 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn analyse financial risk required
- still to learn analyse market financial trends required
- still to learn assess risks of clients' assets required
- still to learn forecast economic trends required
- still to learn obtain financial information required
- optional, not held perform stock valuation optional
- optional, not held provide support in financial calculation optional
- optional, not held trace financial transactions optional
- still to learn financial jurisdiction required
- still to learn financial markets required
- still to learn securities required
- still to learn stock market required
- optional, not held accounting optional
- optional, not held banking activities optional
- still to learn review investment portfolios required
- still to learn trade securities required
- optional, not held communicate with banking professionals optional
- optional, not held communicate with customers optional
- optional, not held provide financial product information optional
- still to learn create a financial plan required
- optional, not held operate financial instruments optional
- still to learn economics required
- optional, not held electronic communication optional
1 further area in the appendix
Table 4 · Where to start
The 3 entries a securities broker role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 analyse financial risk practise this
- 02 analyse market financial trends practise this
- 03 assess risks of clients' assets practise this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 10 skills that carry over
- already held actuarial science knowledge
- already held advise on financial matters skill
- already held apply technical communication skills skill
- already held financial products knowledge
- already held handle financial transactions skill
- already held maintain records of financial transactions skill
- already held protect client interests skill
- already held build business relationships skill
- already held modern portfolio theory knowledge
- already held tax legislation knowledge
The 1 learning area not shown above
- optional, not held statistics optional
11 supplementary skills, helpful but not required
- optional, not held accounting optional
- optional, not held banking activities optional
- optional, not held communicate with banking professionals optional
- optional, not held communicate with customers optional
- optional, not held electronic communication optional
- optional, not held operate financial instruments optional
- optional, not held perform stock valuation optional
- optional, not held provide financial product information optional
- optional, not held provide support in financial calculation optional
- optional, not held statistics optional
- optional, not held trace financial transactions optional
36 held skills the securities broker role does not ask for
- not needed by the target role analyse claim files skill
- not needed by the target role analyse insurance needs skill
- not needed by the target role analyse insurance risk skill
- not needed by the target role apply statistical analysis techniques skill
- not needed by the target role calculate insurance rate skill
- not needed by the target role claims procedures knowledge
- not needed by the target role compare insurance products skill
- not needed by the target role contract law knowledge
- not needed by the target role create cooperation modalities skill
- not needed by the target role create insurance policies skill
- not needed by the target role customer service knowledge
- not needed by the target role decide on insurance applications skill
- not needed by the target role deliver visual presentation of data skill
- not needed by the target role develop investment portfolio skill
- not needed by the target role file claims with insurance companies skill
- not needed by the target role identify clients' needs skill
- not needed by the target role inform on insurance products skill
- not needed by the target role initiate claim file skill
- not needed by the target role insurance law knowledge
- not needed by the target role insurance market knowledge
- not needed by the target role maintain relationship with customers skill
- not needed by the target role manage claim files skill
- not needed by the target role manage claims process skill
- not needed by the target role manage contract disputes skill
- not needed by the target role manage contracts skill
- not needed by the target role monitor legislation developments skill
- not needed by the target role organise a damage assessment skill
- not needed by the target role principles of insurance knowledge
- not needed by the target role promote financial products skill
- not needed by the target role prospect new customers skill
- not needed by the target role provide cost benefit analysis reports skill
- not needed by the target role sales promotion techniques knowledge
- not needed by the target role sell insurance skill
- not needed by the target role social security law knowledge
- not needed by the target role types of insurance knowledge
- not needed by the target role use data processing techniques skill
9 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn economics required
- still to learn financial jurisdiction required
- still to learn financial markets required
- still to learn securities required
- still to learn stock market required
- optional, not held accounting optional
- optional, not held banking activities optional
- optional, not held electronic communication optional
- optional, not held statistics optional
Other moves recorded from insurance broker
- insurance collector 51% covered · moderate
- insurance claims handler 50% covered · moderate
- property insurance underwriter 46% covered · substantial
- insurance rating analyst 40% covered · substantial
- insurance underwriter 40% covered · substantial
- loss adjuster 39% covered · substantial
- insurance agency manager 39% covered · substantial
- insurance fraud investigator 38% covered · substantial
Common questions about this move
Can an insurance broker become a securities broker?
Yes, and it is a substantial move. An insurance broker already covers 32% of what a securities broker is expected to do: 10 skills carry over, 7 of which the securities broker role treats as required.
What skills does an insurance broker need to become a securities broker?
13 required skills are missing, plus 11 optional ones. They fall into 7 areas of the ESCO skill hierarchy, led by information skills. The single most important is analyse financial risk.
How hard is the move from insurance broker to securities broker?
Its learning distance is 65.6 out of 100, which is the substantial band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.