A day in the life of a stockbroker is pretty smooth sailing especially for those who have been in the industry long enough to know all the nooks and corners there are. The trickier part is how to get there. You have to be familiar with the different qualifications and requirements asked from aspiring stockbrokers by different U.S. states.
Those who want to practice in South Carolina, for instance, need to be registered with the South Carolina Office of the Attorney General, Securities Division. This means that your license to practice in South Carolina limits you to only solicit clients from that state. But first and foremost, to get licensed, here are the things you need to accomplish:
Take Qualifying Examinations
Consider this as your evaluation test on whether or not you are bound to succeed as a stockbroker. Remember that you cannot get clients if you cannot establish your local contacts
Once you are convinced that you could actually make a living out of stock brokerage, and then you could already work on getting your license. First off, there are qualifying exams you have to take. One would be the Series 7 exam, which is standard for all aspiring stockbrokers in the U.S.
You need a firm based in South Carolina to support you and sponsor you for your first years in the industry.
Recommended Colleges in South Carolina
- University of Phoenix – The University of Phoenix can be found in the Columbia area of South Carolina. The university offers the following degrees to interested students: associate degree, bachelor’s degree, doctoral degree, master’s degree, MACC degree and MBA degree. Additionally, they offer the following courses to students: accounting, administration, entrepreneurship, human resources management, IT management, marketing, music/entertainment/sports management and hospitality management. These courses will definitely help you in your career as a stockbroker because learning about them will allow you to take on different roles simultaneously.
- Bob Jones University – The Bob Jones University can be located in Greenville, South Carolina. Just like the University of Phoenix, they offer these levels of educational attainment: an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree. Moreover, they also offer courses that will equip you with the knowledge and tools that will prepare you for your career. These courses are accounting, administration, international business and marketing.
To summarize, you need to have a feasibility study about whether or not you are likely to succeed in this industry. And once you make up your mind, you should at once take the qualifying exams so you could have license to solicit clients from the state of South Carolina. For that, you would need to find a local broker-dealer firm to be your sponsor. A college education is not required, but it could be a huge plus in such a competitive field! And that is how one becomes a stockbroker in South Carolina.