Stockbrokers licensed in the State of Maryland are only limited to soliciting clients in Maryland. This is because there are different qualifications for each of the states. So when you choose your state of specialization, make sure you orient yourself with the licensure requirements for said state.
If you are based in Maryland, here are the things you need to accomplish. Treat this as a checklist on your way to becoming a stockbroker in Maryland.
Stockbroker Requirements in Maryland
Acquaint yourself with the existing brokerage firms in Maryland, since you need to choose one you could join so said firm could sponsor you to take the Series 7 examination. You also need to be familiar with the competition since there is a lot to be learned from them as well.
For this, there are qualifying examinations you have to take and pass. First would be the Series 7 exam, which is actually required for ALL aspiring stockbrokers in the United States. Now, it is up to the firm you are trying to join whether they require the Series 63 or the Series 66 exam. These are what you need to pass to get licensed in Maryland.
Recommended Colleges in Maryland
Of course, to earn from the industry, you need to actively solicit for clients. And since the industry is highly competitive, you need to have an advantage over your competition. This could ideally come in the form of experience, but if you are a starter, a college diploma could do wonders for you since not all stockbrokers have formal education. Here are our recommended universities for aspiring stockbrokers based in Maryland:
- University of Phoenix – The University of Phoenix in Maryland is in three locations, these locations include: Columbia, Greenbelt, Rockville and Timonium. You can get an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree in this university. You can also choose from the variety of courses that they are offering to students. These courses are accounting, administration, entrepreneurship, hospitality management, human resources management, IT management, marketing, music/entertainment/sports management and public administration. They also offer some of their programs online, to provide students who has part-time job an equal opportunity for learning and education.
- University of Maryland University College – The University of Maryland University College is located at Adelphi. They offer the following levels of educational attainment in their university: a bachelor’s degree, a certificate, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. To add to that, they offer the students an opportunity to take the following courses in their university: accounting, administration, e-commerce, human resources management, IT management, international business, marketing and non-profit management.
As a quick recap, to become a stockbroker in Maryland, you need to familiarize yourself with the industry in Maryland, get your license, and begin soliciting clients. With that, we hope you good luck!