As long as there are financial markets, there will be a need for stockbrokers. Even with the proliferation of Internet investment firms, there will be people who feel more comfortable sitting down with a trained professional to plan out their financial future. People who make good stockbrokers have determination, are good with numbers and memorisation, possess excellent people skills, and genuinely have the best interests of the clients at heart. Stockbrokers are trained at investment firms and then must pass two exams to earn their licenses.
- Skill level:
Other People Are Reading
Call investment firms in your area. Set up appointments with the branch managers. Discuss your aspirations to become a stockbroker. Due to a high attrition rate, firms are constantly hiring prospective new stockbrokers and putting them through months of training. There are no educational prerequisites, though having a college degree might make it easier to secure an interview.
Study for, and then take, the General Securities Exam, called the Series 7. The study materials are usually provided by the firm. It will be among the most comprehensive and difficult tests you will ever see. Learn your study material by heart. The test will contain questions on everything from calculating bond yields to interpreting alpha numbers on mutual funds.
After passing the Series 7, start studying for the Uniform Securities Agent State Law Exam, known as the Series 63. It will require some study time, but likely only a quarter of the time need for the Series 7. You must pass the Series 7 and 63 in order to be licensed as a stockbroker.
Build a clientele. This will be done by cold-calling prospects on the telephone and perhaps even going door-to-door to meet people. These initial contacts will yield a percentage of your first clients.
- 20 of the funniest online reviews ever
- 14 Biggest lies people tell in online dating sites
- Hilarious things Google thinks you're trying to search for