How to Become a Licensed Stock Broker
Although no education is necessary to become a stock broker, many brokers are college graduates and knowledgeable of finance in general. In a way, a stock broker is a salesman and must understand not only the nuances of finance, but sales as well. Knowing the market trends, assessing current stock price in relation to value and knowing which investments are safest are all nuances related to the stock market.
Other People Are Reading
Instructions
-
-
1
Enroll in finance courses at your local college, including a course in investment analysis and a general finance course covering the basics. Although not necessary, courses can be beneficial to your goal of becoming a licensed stock broker.
-
2
Subscribe to "Fortune Magazine," "Smart Money" and the "Wall Street Journal." Use the Internet to your advantage to keep up with the latest news and developments in the financial world.
-
-
3
Find a reputable company to sponsor you for the training necessary in this field. Chase, Merrill Lynch and JP Morgan are popular companies that offer thorough training. There are many nuances to finance that must be considered to be a successful stock broker, such as stock and bond valuation, trend analysis and market forecasting.
-
4
Study and pass the Series 7 exam (General Securities Representative exam) to proceed as well as the Series 66 or 63 (Uniform Combined State Law Examinations), depending on your state requirements. You must have these licenses in place before you can earn a commission on any trades you perform.
-
5
Continue to study as you will be required to earn continuing education credits throughout your career. Continuing education is necessary to maintain your license and you can find this information online at the Financial Industry Regulatory Authority website (see Resources).
-
1
Tips & Warnings
Watch finance shows on TV such as "Fast Money" and "Market Watch" that discuss current economic events as they will foreshadow things to come. Subscribe to the "Wall Street Journal." Read everything you see about finance, current events are crucial to market activity.
