How To Become A Stock Broker


10/08/2019 Facebook Twitter LinkedIn Google+ Business,Careers,S



Do you like investing your money? Than becoming a Stock Broker would be a great career. Stock brokers perform financial services for their organization’s clients related to stocks and other securities. They advise their clients on current and prospective investments, help manage their portfolios and provide advice on which investments might have the best returns, as well as process transactions on their clients’ behalf. Stock brokers’ clients may be individual investors and/or companies, and excellent communication and interpersonal skills are required to communicate effectively with these clients.

Stock brokers must be able to make decisions in a fast-paced environment, perform effective financial analysis, manage multiple client portfolios effectively, and work to maintain good relationships with clients. They need to maintain an up-to-date understanding of the stock market and monitor changes in the market throughout their workday.

In 2017, Stock Brokers earned an average of $149k per year. About 68% of Stock Brokers are Male, making them the more common gender in the occupation. About 85% of Stock Brokers are White, making that the most common race or ethnicity in the occupation. Representing 7% of Stock Brokers, Asian is the second most common race or ethnicity in this occupation and 5% are Black. 

 

How To Become A Stock Broker

You will need at least a bachelor’s degree in business, accounting, finance, marketing, or economics. Prospective Stock Brokers should look for programs that provide courses or concentrations specializing in financial and investment planning. These courses typically cover portfolio planning, economic theory, tax treatments, client communication, Series 7 exam preparation, risk analysis, and the use of financial software. Also you must complete the General Securities Registered Representative Examination (Series 7) to be licensed. This six-hour-long examination is administered by the Financial Industry Regulatory Authority (FINRA) and consists of 250 questions that test basic competency in buying and selling investment options.

Some states and employers also require stockbrokers to complete the Uniform Securities Agents State Law Examination (Series 63) to meet additional securities trade qualifications. Additionally, all practicing investment brokers must register with FINRA, which provides rules of regulation and continuing education opportunities. To your chances of employment and career advancement prospects by pursuing Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) status.

CFP is a multi-step process that requires applicants to have a bachelor’s degree, pass an exam, and gain at least three years of full-time experience in financial planning. The CFA program is a graduate level, self-study option accredited by the CFA Institute, formerly known as the Association for Investment Management and Research. This program was specifically designed to provide specialized skills in investment strategy and portfolio management to candidates with a bachelor’s degree and at least four years of finance-related experience.

 

source:

datausa.io
study.com
payscale.com

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