How to Be a Financial Advisor Stock Broker
Becoming a financial advisor who acts as a stockbroker is a tremendously challenging endeavor. Many disciplines must be learned, and a great deal of hard work will be required while you start your business. Although there are some strategies that can help you build your business, there is no quick or easy formula that you can use to gather and manage assets.
Other People Are Reading
Instructions
-
-
1
Find a broker-dealer that is willing to sponsor you. You will get your insurance and securities licenses through them, which they pay for, depending upon whether you go to a retail wirehouse or an independent broker-dealer. You may have to interview with several different B/Ds in order to find one that suits your needs.
-
2
Start studying to get your licenses after you get hired. This may be a major undertaking if you have no background in finance or securities. You will need to get your Series 6 or 7 license, plus your Series 63 or 66, and probably a life and health insurance license as well.
-
-
3
Start pounding the pavement to gather some assets. Learn how to prepare income taxes as a means of prospecting, as this will help you gain your clients' trust and reveal their financial situations to you. Use your network of friends, relatives and associates to generate leads. Read some books on closing sales to sharpen your closing skills.
-
4
Earn a professional designation, such as the Certified Financial Planner or Chartered Life Underwriter, to establish your credibility. This will also enable you to better serve your clients. This can make it much easier for you to be able to charge a fee for a comprehensive financial plan if you wish to do so.
-
5
Join a professional society, such as the Financial Planning Association or the Society of Financial Service Professionals. These organizations can provide you with a wealth of resources to help you build your business, as well as valuable professional contacts.
-
1
