Stock Broker - How to Become a Successful Stock Broker
There are many ways to become a stock broker.
Here's a guideline on how to become a successful stock broker.
1.
Academic requirement Most of the stock brokers today are well qualified with graduate degree in economics, business, finance or accountancy.
However, there is not a necessary prerequisite because the most important is that you are good to sell.
Practical Skills Acquire practical skills and join an investment club where you can meet and study from like minded people.
By being a part of the club you can learn a lot about different investment opportunities analyzes results and jointly invests its funds.
3.
Stock Broker License To get a stock broker license you need to work for a brokerage firm for at least four month before you can take the General Securities Registered Representative Examination (Series 7 exam), administered by the National Association of Securities Dealers.
Most states also require the Uniform Securities Agents State Law Examination (Series 63 exam) and the Uniform Investment Advisor Law Exam (Series 65 exam).
Once you have passed these exams and your training is over, you will be interviewed by your sponsoring brokerage firm.
4.
Job interview Only a handful out of 100 trainees may make it through the interview and get hired as stock brokers! So be prepared to give them your best shot, as the stock broker firm look for go getters who are confident and sell aggressively.
5.
Competitive work environment Firms often hire a flood of recent graduates with the intention that a large percentage will be 'washed out' during the first months of training.
Be prepared for long working days in a very high stress environment.
6.
Personal Skills After you have passed the exams and are licensed stockbroker you still have to develop the traits and your personal skills necessary in become successful a successful stockbroker.
First, you will need self-confidence but without being too arrogant.
Second, you will need astute analysis of the market without being a too 'smartass'.
Third, you need unassailable integrity without being too much of a saint.
Fourth, you need persuasion skills without being the stereotypical greasy salesman.
If you can manage and balance these combinations of a solid academic education, broad experience, training as well as outstanding personal and professional traits, then the sky is the only limit!
Here's a guideline on how to become a successful stock broker.
1.
Academic requirement Most of the stock brokers today are well qualified with graduate degree in economics, business, finance or accountancy.
However, there is not a necessary prerequisite because the most important is that you are good to sell.
Practical Skills Acquire practical skills and join an investment club where you can meet and study from like minded people.
By being a part of the club you can learn a lot about different investment opportunities analyzes results and jointly invests its funds.
3.
Stock Broker License To get a stock broker license you need to work for a brokerage firm for at least four month before you can take the General Securities Registered Representative Examination (Series 7 exam), administered by the National Association of Securities Dealers.
Most states also require the Uniform Securities Agents State Law Examination (Series 63 exam) and the Uniform Investment Advisor Law Exam (Series 65 exam).
Once you have passed these exams and your training is over, you will be interviewed by your sponsoring brokerage firm.
4.
Job interview Only a handful out of 100 trainees may make it through the interview and get hired as stock brokers! So be prepared to give them your best shot, as the stock broker firm look for go getters who are confident and sell aggressively.
5.
Competitive work environment Firms often hire a flood of recent graduates with the intention that a large percentage will be 'washed out' during the first months of training.
Be prepared for long working days in a very high stress environment.
6.
Personal Skills After you have passed the exams and are licensed stockbroker you still have to develop the traits and your personal skills necessary in become successful a successful stockbroker.
First, you will need self-confidence but without being too arrogant.
Second, you will need astute analysis of the market without being a too 'smartass'.
Third, you need unassailable integrity without being too much of a saint.
Fourth, you need persuasion skills without being the stereotypical greasy salesman.
If you can manage and balance these combinations of a solid academic education, broad experience, training as well as outstanding personal and professional traits, then the sky is the only limit!
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