How to Be a Registered Representative in California
Registered representatives work in the financial services industry as a licensed professional to sell securities legally for their clients. They work for a broker-dealer member of FINRA. In the past, registered representatives have been called stock brokers and other titles, but the SEC and FINRA formally calls them registered representatives. If you are thinking about the financial services industry and would like to know how to break into a career as a registered representative, here are some guidelines:
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Instructions
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Apply for a position with a firm, whether through a management program with a large corporation or an independent company. Most of the tests you are going to take to get licensed in the state needs to be sponsored by a firm. Once employed by a firm, the company will process your application for testing and assist you with several licensing requirements since they cannot employ you as a registered representatives if you don't have a license.
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Register as representatives of the firm with FINRA. Also, you must be employed for four months and pass the tests before you can start working as a registered representative.
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Take the licensing test required. Depending on the position, you need to take several tests before you can actually meet clients and sell securities. Series 6 and 7 are some of the tests that registered representatives take to be able to work for the firm. The firm will let you know which ones you need to take and will train because they are also liable to the different securities organizations.
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Attend continuing education classes. These classes consist of computer-base (regulatory element) and company training (firm element). All registered representatives are required to attend classes within certain time periods. These classes help keep employees updated about the job and products.
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Fill out forms to be registered with the state of California. These forms are generally included in the employment packet that you needed to fill out with your firm. Some of them may require you to take license exams first before completing; check with your manager or human resources.
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Tips & Warnings
A college education is not necessarily required to take the test, although a lot of firms highly prefer those who have at least a bachelor's degree. College programs may also open up opportunities for internships which then lead to full-time jobs.
