One of the unique things about the stock brokerage industry is its lack of need for formal education. Aspiring stockbrokers need not have a college diploma to get licensed. The requirements, however, vary from state to state. This is why it is important to focus on one state where you want to practice, so you could accomplish the necessary requirements. For aspiring stockbrokers in the state of Missouri, here are the things you need to accomplish:
Take Qualifying Examinations
You need the Series 7 exam to practice anywhere in the U.S, but to be qualified to take this exam, you have to get a brokerage firm based in Missouri to sponsor you. Said firm would also require either the Series 63 or the Series 66 exam as a prerequisite for hiring. Make sure you get the right qualifying exam for the specific firm.
There are a lot of tutorials and mock exams to help you out, so make sure you come prepared as there is no way you could solicit clients in the Missouri area without passing said exams.
Without clients, you earn nothing. So once you get your license, source out prospective clients and get to work at once. Learn on the job and make sure you never stop trying out different strategies. Remember that there is no one right way to be a stockbroker. Seek the means that work for you.
Formal education is not required, but it definitely gives you an edge over your competitors. There are a lot of top rank universities in the Missouri state, but here are our two most recommended:
Recommended Colleges in Missouri
- Missouri State University – The Missouri State University can be found in Springfield. The university offers a bachelor’s degree, a certificate, a master’s degree, a MACC degree and an MBA degree to aspiring students interested in enrolling in their institution. You will be surprised with the wide array of choices they give to students regarding the courses that they can take: accounting, administration, advertising, agribusiness, entrepreneurship, hospitality management, human resources management, IT management, international business, marketing, music/entertainment/sports management and real estate.
- University of Phoenix – The University of Phoenix can be found at several locations in Missouri: Des Peres, Kansas City, O’Fallon, Saint Louis, Springfield and St. Louis. They offer the following levels of educational attainment, from which you can decide which to take: an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. They also have an extensive selection of courses available to students like accounting, administration, entrepreneurship, hospitality management, human resources management, IT management, marketing and music/entertainment/sports management.
Remember: you have to get a firm to sponsor you, you have to pass the qualifying exams, and once licensed, you have to solicit clients right away. Here are the things you have to do in order to become a stockbroker in Missouri.