Different U.S. states also have different qualifications and requirements for aspiring stockbrokers, so you have to be very particular about where exactly you want to practice being a stockbroker. For instance, if you want to zoom in on the state of New Mexico, you have to abide by the regulations of the New Mexico Regulation and Licensing Department, Securities Division. But to sum it up for you, here are the most basic things you have to accomplish to become a stockbroker in New Mexico:
Take Qualifying Examinations
You need a broker-dealer firm to sponsor you to take the FINRA-registered qualifying examinations, the most basic of which would be the Series 7 exam. The New Mexico firm of your choice would also require you to pass either the Series 63 or the Series 66 exam if they see the potential to hiring you.
Passing the exams mentioned above would automatically license you as a stockbroker. The only thing left for you to do is check with your department about stuff like the renewal of the license, limits, and more.
Now this one is the hardest of them all. For prospective clients to trust you, you have to provide a good track record. For newcomers in the industry, though, your advantage could come in the form of a good college education. Here are some universities you could enrol in as a resident of New Mexico:
Recommended Colleges in New Mexico
- University of Phoenix – The University of Phoenix in New Mexico can be located at three different places, there is one in Albuquerque, there is another in Santa Fe and the last one is in Santa Teresa. The university provides the students with the opportunity to obtain an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. It is already up to you if you would want to obtain more than a bachelor’s degree, but it would be enough for a stockbroker. They offer accounting, administration, entrepreneurship, hospitality management, human resources management, IT management, marketing and music/entertainment/sports management. They also offer some programs online.
- University of New Mexico – The University of New Mexico can be found in the Albuquerque area of the state. They offer the following educational attainments: a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. They offer courses such as accounting, administration, entrepreneurship, human resources management international business and marketing. These courses are set to help you boost your career as a stockbroker as these courses are basically what stockbrokers do most of the time. Aside from that, you can also try doing other related jobs simultaneously with being a stockbroker.
Again, to become a stockbroker in New Mexico, you have to get a firm to sponsor you, then you have to get licensed by passing the required exams, then you have to start making a name for yourself.