The first thing you need to know about the stock brokerage industry is that it is quite a diverse career path. No two stockbrokers in the whole world have the same experiences. This is just as true as saying that there are no two U.S. states that have the same qualifications for their local stockbrokers. So you got to be specific about which state you want to practice in. And if you do decide on Pennsylvania, the following are what needs to be accomplished:
Take Qualifying Examinations
You need to find a broker-dealer firm that is based in Pennsylvania for a couple of reasons. One, you cannot take the Series 7 qualifying exam for stockbrokers without a sponsor firm. Two, the firm would also dictate your additional qualifying exam requirements necessary for employment. Three, the broker-dealer firm would also be the one to provide you training and mentorship in your early years in the industry
However, the only thing you need to accomplish to get licensed would be to pass the Series 7 exam as well as any other additional exams as to the discretion of your broker-dealer firm. Most likely it would either be the Series 66 or the Series 63 exam. Just double check with your firm which one they would require!
A college education is not required, but anyone would still benefit from finishing one. As a local of Pennsylvania, here are our top two universities that you can enrol in to get your college education. Remember, however, that you must use your time in college to expand your networks since your contacts list soon becomes your list of prospective clients:
Recommended Colleges in Pennsylvania
- DeVry University – The DeVry University in Pennsylvania can be located at Fort Washington. Degrees offered by the university range from a bachelor’s degree to an MBA degree. You can get your Bachelor’s Degree, Certificate, Master’s Degree, MACC Degree and MBA Degree here. Just like the wide range of degrees that they are offering, they are also offering a variety of courses: accounting, administration, entrepreneurship, hospitality management, human resources management, IT management, international business, marketing and public administration.
- University of Phoenix – The University of Phoenix can be found in many places around Pennsylvania: Harrisburg, Levittown, Philadelphia, Pittsburgh, Washington and Wayne. They offer the following levels of educational attainment to aspiring students who are interested to enrol in their school: an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. They offer courses highly related to what stockbrokers usually do, and these courses are the like of accounting, administration, entrepreneurship, human resources management, IT management, marketing, music/entertainment/sports management and public administration.
To recount: you need to find a sponsor firm, and then pass the qualifying examinations in order to become a licensed stockbroker in the state of Pennsylvania. Once allowed to solicit clients, you have to be responsible for your own growth and learning in the industry.