Rhode Island

Becoming a stockbroker is no easy task. There are numerous requirements you have to undergo before you could get licensed, and the tricky part is that the qualifications are different for each of the states in the U.S. This means you can’t just practice anywhere in the U.S. if your license is just for one state. So you also have to familiarize yourself with the requirements of the specific state where you want to practice your stock brokerage. If you want to practice in the state of Rhode Island, the following are the steps you have to take:

Take Qualifying Examinations

You need to find a brokerage firm based in Rhode Island because you need a firm to sponsor you. Without a firm sponsorship, you cannot take the Series 7 exam, which is the qualifying exam for all aspiring stockbrokers in the U.S.

There are additional exams aside from the Series 7 exam. But you have to check with your broker-dealer firm which one they need from you. Most likely it would either be the Series 63 or the Series 66 exam. Most local firms require these as a prerequisite for the people they hire.

As you might probably know by now, a college diploma is not required for aspiring stockbrokers. However, a college education is the best way you could compete with those who have been a stockbroker for a couple of years. Make sure you get a related field of study such as Economics, Business Administration, Finance, etc. The following schools are our top recommended for Rhode Island locals:

Recommended Colleges in Rhode Island

  • The University of Phoenix – Rhode Island College can be located in Providence, Rhode Island. There are only a few business schools in the whole of Rhode Island State, nevertheless, they can still offer you the things that you may need in your career. You can obtain your bachelor’s degree, certificate, master’s degree, MACC degree and MBA degree here. It is up to you to decide which degree to pursue, but in the stockbroker industry, a bachelor’s degree will suffice. The college offers accounting, administration, human resources management, international business and marketing.
  • Johnson & Wales University – Johnson & Wales University can also be found in Providence. Just like Rhode Island College, the university is inclined to equipping students with the right tools to become competent in the field. They offer the following levels of educational attainment: bachelor’s degree, master’s degree and MBA degree. You can get a degree in the following courses: accounting, administration, entrepreneurship, hospitality management, human resources management, international business, marketing and music/entertainment/sports management.

To become a successful stockbroker in Rhode Island, you have to be able to find a local brokerage firm to be your sponsor. Next, you have to pass the qualifying examinations. Then, you should contemplate whether or not you could invest in a college education. But for all intents and purposes, we recommend you to do so. Good luck!