A career in stock brokerage entails a lot of independence, but abidance with the regulatory qualifications is of course, very important. However, different U.S. states also have different requirements for aspiring stockbrokers, so you better set your mind first about which state you want to focus your career on. If it is North Dakota you choose, then the following steps are what you need to accomplish to become a successful stockbroker there:
Take Qualifying Examinations
You need a sponsor firm for several reasons. For one, you cannot take the Series 7 exam without a firm to sponsor you. And the Series 7 exam is the first thing you have to pass for you to get licensed. Your sponsor firm could also require additional exams as a prerequisite for your employment. They could require either the Series 63 or the Series 66 exams.
Check with your host firm if there are any additional exams they would require you to take. Otherwise, you only need to pass the exams mentioned above.
Attend every training session that your host firm has to offer, and learn from your senior stockbrokers! You have to do this by yourself since there is no college course that specializes in the industry of stock brokerage alone.
While we concede that there is no college course that teaches how to be a successful stockbroker, one could still benefit from taking finance and business courses. Here are some of our most recommended universities near your North Dakota residence:
Recommended Colleges in North Dakota
- University of Mary – The University of Mary can be found in the Bismarck area of the state of North Dakota. They are offering to students the following levels of educational attainment: an associate degree, a bachelor’s degree, a master’s degree and an MBA degree. For a stockbroker, a bachelor’s degree would suffice; but on the event that you still would want to pursue further studies, no one is stopping you, you can pursue a master’s degree and even an MBA degree. The university offers the following courses: accounting, administration, human resources management, marketing and music/entertainment/sports management. They offer some of their programs online.
- University of North Dakota – The University of North Dakota is one of the schools located in Grand Forks. It is a business school from which you can obtain a bachelor’s degree, a certificate, a master’s degree, a MACC degree and an MBA degree. The university offers the students an opportunity to learn about the following courses: accounting, administration, entrepreneurship, human resources management, international business and marketing. These courses are all related to what stockbroker do most of the time.
So basically, all you have to do to become a stockbroker in North Dakota are the following: get sponsorship from a local broker-dealer firm, get your own license, train while on the job, and get yourself a relevant college degree! That’s it! Good luck on your endeavour as a stockbroker!