How to become a Stockbroker – The Things You Need to Know
Do you want to work in a comfortable office and talk to people about money wearing nothing but a suit and tie? Interact with clients and sometimes go with them on weekend trips?
Then, probably being a stockbroker would be the best job for you. We will give you tips for you to achieve your dream of how to become a stockbroker and pass the Series 7 exam also known as the General Securities Representative and Series 63 or Series 66 exam.
How To Become A Stockbroker
How To Become A Stockbroker Tips
How to become a stockbroker tip 1: Get a degree related to business, finance, or economics. As early as high school, one needs to prepare for what career he or she will undertake. So, it is better to take up electives related to math and economics. A college degree is not entirely a prerequisite to become a stockbroker; however the information you have gained from college would further move forward your career. Plus, a degree would take aback possible and future employers.
How to become a stockbroker tip 2: Join clubs related to investment. Here you would learn to analyze the different trends in the economy as well as invest in funds.
How to become a stockbroker tip 3: Read and subscribe to magazines. You would also learn from publications which are focused on money and the economy. Read publications such as Smart Money, Fortune Magazine, Wall street Journal, and the business section of the different newspapers this will help you on how to become a stockbroker.
How to become a stockbroker tip 4: Benefit from on-the Job Training. One of the top answers to the question how to become a stockbroker is through training, as this required. There are reputable companies with brokers who have trainees working as their assistants. These training, regularly four to six months, would help you gain knowledge and prepare for the coming licensure exams. Often when the trainee passes the licensure exams, he becomes a regular employee of the stockbrokerage firm.
How to become a stockbroker tip 5: Pass the licensure exams. There is an exam administered by the National Association of Securities Dealers. You want to know how to become a stockbroker, and then you have to pass the General Securities Registered Representative Examination (Series 7). Depending on the state where you would want to work, passing the Uniform Securities Agents State Law Examination (Series 63) or the Uniform Investment Advisor Law Exam (Series 65) is also a requirement on how to become a stockbroker. The license is needed to allow you to earn your commission. The passing rate is 70 percent. The state with the most stockbrokers is New York, while the best state to work is in Connecticut.
How to become a stockbroker tip 6: Get ready for the real world. After passing the exams, one should not take it easy and expect a gruelling work place as some firms tend to hire many fresh graduates as they anticipate that most of these would not perform well and would wash out before they become regular employees. Lay emphasis on you work experience and studies in finance and economics. Be professional especially during the interview and when dealing with clients.
