If I want to become a stock broker do I just need to get my Series 7 license? What else do I need to expect? I see many other licenses that are available so now I'm a bit confused.
2006-12-20 03:19:40 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
In most states (except California and maybe a few others), you can't "just get" a Series 7 license. You have to be employed by a brokerage firm, which should nominate you for the exam. Generally, you will be hired as a trainee (and paid a pittance) until you pass the Series 7 exam.
2006-12-20 05:20:03 · answer #1 · answered by NC 7 · 0⤊ 0⤋
You will most likely need a college degree, it will help if you have had sales jobs in the past. Once hired and sponsored you will have to take your Series 7, probably 63, and then Life and Health Insurance. This is not a job like it used to be, less about being a true "stock broker" like you see in the movies. It is hard work, long hours though the compensation is nice. You will need a network of people, you will need to belong to every club, or organization that you can. Meet as many people of influence now so that you may call on them later. Good luck.
2006-12-20 03:24:58 · answer #2 · answered by SO 2 · 0⤊ 0⤋
You should probably learn the ropes working for a brokerage first. You should just apply for the job, they will help you with your licenses. You need a lot more than just a Series 7 to be an independent stock broker.
2006-12-20 03:25:02 · answer #3 · answered by Phillip W 2 · 0⤊ 0⤋
SO is accurate except that:
You actually do not need a college degree to be a stock broker. You can even be a high school drop out, as long as you can pass your series exams.
2006-12-20 03:58:07 · answer #4 · answered by Ubiquity 2 · 1⤊ 0⤋
There are things like BlueSky laws requiring certain licenses, but most depends on the company you work for and what you are supposed to do for them. Series 7 is the biggie though. Don't bother with the stuff you don't need, but if you are going with some associated with insurance and annuity products you might have to get insurance licenses too--again, it depends on the company and what they expect you to sell for them.
2006-12-20 03:26:21 · answer #5 · answered by Rabbit 7 · 1⤊ 0⤋
you ought to first interview with a brokerage. they ought to sponsor you and may even pay on your training. They require you to have a definite volume of hours interior the faculty room in the past you may take the attempt. besides, your greater suitable off being an overall economic consultant or economic planner the place you will get qualified to be considered as greater valid. Calling strangers over the telephone begging them to grant you cash to commerce is frequently what stockbrokers do.
2016-10-15 07:37:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋