It is a lot of work, but you know how it is with a labor of love, it never really seems that bad
Yes, you do have to understand how the market works, hold the right licenses, understand the difference between opening and closing option positions, contract number vs. shares in options, help guide clients through placing different types of trades (i.e. limit orders, stops, GTC, day orders, etc.). Decode what they are saying when they pick up slang for trading and think they are using actual terminology
I think it requires a little more finesse and knowledge than strictly administrative work, but it is certainly not rocket science.
I obtained a new client recently who did just what you described, and from talking to him, it wasn't easy for him to explain and now I understand. He retired from that job a couple of years ago.
It wasn't that he couldn't or was unwilling, but just really wasn't necessary and as you say, a little vague.
It must have been very profitable though, he really has a lot of $$. Not faking it, the real deal.
Placing him in a health policy was simple, but for the life, we're looking at some complicated stuff : mixture of vuls, vas, partially funded life with 1035 xchange, some of everything.
It's good that you are here. Your cat appears to be very intelligent.
Also, I would love to challenge you to a Seinfeld quote off--actually, not sure if I could handle verbatim quotes...maybe a Seinfeld Summary Challenge?.
