How to Become a Financial Broker
If you are a quick learner, enjoy talking with people, are interested in finance and investments, have sales talent and think you would thrive in a high-pressure environment, a career as a financial broker might be for you. Financial brokers handle a variety of tasks, including making cold calls to get new clients; keeping existing clients informed of variations in stock prices; monitoring stock fluctuations; buying or selling stock; going to investment seminars; and examining analysts' research to make recommendations to portfolio managers or clients.
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Instructions
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How to Become a Financial Broker
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Major in economics, finance, business or math as an undergraduate or graduate student. You could major in other areas, but succeeding as a broker will be more difficult if you have no background in economics, business or finance.
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Do an internship in a brokerage or investment firm where you can gain experience in brokering or stock trading. Also, gaining sales experience of any kind can be valuable.
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Get a job in a brokerage or investment firm after graduation.
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Take the necessary exams to become licensed. For example, take and pass the Series 7 exam that is administered by the National Association of Securities Dealers. Also take and pass the Uniform Securities Agent State Law Exam (Series 63 exam) and the Uniform Investment Adviser Law Exam (Series 65 exam). Please note that some brokerages or investment firms will hire you to be a broker and also provide exam preparation and pay the exam fees.
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Work as a licensed broker. You may find clients through business and social contacts, through joining organizations or teaching investment courses, or you may inherit the clients of agents who have retired. Also, existing clients may refer new clients to you.
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Tips & Warnings
Find someone who is currently working as a successful financial broker and ask for any advice he or she might have.
If you are just looking for easy money, being a financial broker is not for you. While you are learning the job, you might not make a lot of money at first. Some people might not make much money at all if they are not good at sales. However, if you are good at sales, and if you are financially knowledgeable, being a financial broker can be very lucrative--but the job requires hard work and dedication.
