The minimum qualification to pursue to become a stock broker is bachelor’s degree along with on-job training in this field. The degree offered by the schools offering education for Finance Investments & Securities are also considered as suitable education criteria in this regard. The following blog talks about the step by step guide to becoming a Stockbroker.
But to be a licensed stock broker one has to pass a series of exams. Some more information about the requirement of education qualification in the career of the stock broker is given here under for your guidance.
Critical information
Defining the career of stock broker
A stock broker is a person that works as an agent for helping his clients in managing their investments in the securities while buying and selling them. They have to discover how the financial goal of their clients can be achieved by investing in the securities and stocks.
They can also suggest the moves to invest their money to earn more profits. They work with their clients against commission on each transaction. They can search for an additional customer or manage the financial portfolios of their existing clients if they have no new project at hand.
Education requirements
Basically, a typical stock broker must have graduation level education in certain common subjects including finance, accounts, management, economics, investment and marketing but Master’s degree in any of these courses can add to their qualification profile.
Some employers prefer to hire stock brokers with MBA degree even if they have to pay higher salaries and advancement bonuses to such candidates.
Training
Besides educational qualification, many companies offer on-job training to their stock brokers to improve their understanding of the procedures, policies, products and services of the company.
They provide training on the topics like effective speaking, analysis of securities and selling them. You can be deputed in a department according to your knowledge and capabilities.
Licensing and registration
You will have to pass an exam, Series 7 Exam, conducted by the General Securities Registered Representative to be a registered stock broker to manage the accounts of a registered firm. The registration of the stock brokers is done with FINRA or the Financial Industry Regulatory Authority at www.finra.org.
To be eligible for this exam, you will have to be employed for at least four months with a registered firm. You will have to secure at least 70% marks by answering 250 multiple choice questions within six hours. Thus, the information provided in this write-up about the degree to pursue to become a stock broker can help you in becoming a registered and certified stock broker.…