How do I go about becoming a stock broker?

Answer 1

What you'll want to do is get education up to at least degree level, and preferably in Business, finance or Economics etc. From there it's just a case of finding an employer from a stock brokerage firm, or elsewhere.

Answer 2

A Stockbroker, often called either a Financial Advisor or Financial Consultant, is basically a sales position. You're selling financial products, like stocks and bonds.

It requires your having to pass 2 tests, the Series 7 and 63. The Series 7 focuses on the practical application of financial knowledge, while the Series 63 focuses on the securities laws and regulations. FYI, the Series 7 is the harder!

Most often, when you get hired by a brokerage firm, they'll pay for the training materials and you either do self-studying until you feel ready to take the test, or they'll send you to classes for training.

And while most people do get their degrees in business (economics or finance most closely related) first, so they have some knowledge of the financial world , it's not absolutely necessary.

Answer 3

Because securities and commodities sales agents must be knowledgeable about economic conditions and trends, a college education is important, especially in larger securities firms. In fact, the overwhelming majority of workers in this occupation are college graduates. Although employers seldom require specialized academic training, courses in business administration, economics, and finance are helpful.

Many employers consider personal qualities and skills more important than academic training. Employers seek applicants who have considerable sales ability, good interpersonal and communication skills, and a strong desire to succeed. Some employers also make sure that applicants have a good credit history and a clean record. Self-confidence and an ability to handle frequent rejections are important ingredients for success.

Because maturity and the ability to work independently are important, many employers prefer to hire those who have achieved success in other jobs. Most firms prefer candidates with sales experience, particularly those who have worked on commission in areas such as real estate or insurance. Therefore, most entrants to this occupation transfer from other jobs. Some begin working as securities and commodities sales agents following retirement from other fields.

Securities and commodities sales agents must meet State licensing requirements, which usually include passing an examination and, in some cases, furnishing a personal bond. In addition, sales agents must register as representatives of their firm with the National Association of Securities Dealers, Inc. (NASD). Before beginners can qualify as registered representatives, they must pass the General Securities Registered Representative Examination (Series 7 exam), administered by the NASD, and be an employee of a registered firm for at least 4 months.

Most States require a second examination—the Uniform Securities Agents State Law Examination. This test measures the prospective representative�s knowledge of the securities business in general, customer protection requirements, and recordkeeping procedures. Many take correspondence courses in preparation for the securities examinations. Within 2 years, brokers are encouraged to take additional licensing exams in order to sell mutual funds, insurance, and commodities.

Most employers provide on-the-job training to help securities and commodities sales agents meet the registration requirements for certification. In most firms, the training period takes about 4 months. Trainees in large firms may receive classroom instruction in securities analysis, effective speaking, and the finer points of selling; may take courses offered by business schools and associations; and may undergo a period of on-the-job training lasting up to 2 years. Many firms like to rotate their trainees among various departments, to give them a broad perspective of the securities business. In small firms, sales agents often receive training in outside institutions and on the job.