Learn the business of how to become a Stockbroker or find a Broker to invest for yourself. A Stockbroker represents a brokerage firm as a registered representative of that firm. A Stockbroker will solicit and place trades for their customers. Becoming a licensed Broker requires the passing of the Series 7 exam.

Career

A career as a stockbroker is filled with many rewards, but many challanges. While the excitement of the market and dealing with wealthy clients can get your juices going, the markets and other circumstances and events can work against you. This a career that can change your life, if successful at it.

Stockbroker Jobs and career opportunities are usually plentiful. However, the quality of the firm and the types of business they do can vary. Many consider themselves Financial Advisors now. Many Equities Brokers have expanded their business into other securities. You won't hear a Merrill Lynch broker calling himself a "Stockbroker". Larger firms tend to work off of managed assets, and not "trade" client money like they used to. There is also more competition from Online Brokers.

Salary

Stockbrokers rarely get much of a salary. It is primarily a commission job. The commission potential is unlimited and there are brokers making $30,000 a year and other making $2 million. Stockbrokers must be motivated. Motivated to call new potential customers, and the personality to gain trust and confidence with the prospect. Brokerage firms will normally give a starting salary or training salary. This is so the person can begin their career with some type of allowance during the early period. This salary will normally be $250-$500 per week.

License

There are many license designations in the brokerage industry. The primary license to trade registered securities (Stocks, Bonds, Options and more) is the Series 7 License. The Series 7 exam must be passed before you can even solicit securities business to trade. The Series 63 is the state licensing that allows a Series 7 Stockbroker to register and do business with customers in different state, outside his own.

Training

American Investment Training - Offers Series 7 self study course training. Books and CD Rom programs will prepare the student to pass the Series 7 test. AIT is a recognized leader in NASD exam training.

View all of the American Investment Training courses by visiting their site for Broker License Training

Becoming a Stockbroker

For a good overview of how to become a Stockbroker, consider visiting Brokerjobs.com for the "Broker Career Guide" Book.