Being a stockbroker gives a person great power, and in effect, great responsibility. If you are a stockbroker, it is your responsibility to read market trends and advise your clients regarding the soundest investments they could make given the latest developments in the economy. This gives you the power to actually shape microeconomics! This is such a great power, so naturally, there are strict requirements for those who aspire to be part of the stock brokerage industry, and these requirements vary from each state. For the state of Virginia, here’s what a person needs to do to become a licensed stockbroker:
This is such a great power, so naturally, there are strict requirements for those who aspire to be part of the stock brokerage industry, and these requirements vary from each state. For the state of Virginia, here’s what a person needs to do to become a licensed stockbroker:
Take Qualifying Examinations
You need a Virginia-based firm to stand behind you. Without a firm sponsorship, see, you cannot be allowed to take some of the qualifying examinations.
For you to get a license to solicit clients in Virginia, you have to formally be registered with the Virginia State Corporation Commission. For that to happen, you have to pass the Series 7 exam (General Securities Representative Examination.) You also need either the Series 63 or the Series 66 exam as an additional requirement for licensure.
Technically, a college diploma is not necessary for a person to get a stockbroker’s license in Virginia. However, as mentioned before, you need to gain the trust of a local broker-dealer firm and one of the best ways to gain their trust is to present a college diploma from a reputable institution. For Virginia residents, we recommend the following universities:
Recommended Colleges in Virginia
- George Mason University – As a private university, tuition rates at the Mason could get quite expensive, but it would sure be worth it. The facilities, for instance, the libraries are modern and inviting, as well as the classrooms in this university. The courses offered are also wide and comprehensive, with degree program offers in Accounting, International Business, Real Estate, and Entrepreneurship. The bulk of seminars and extracurricular lectures offered here is also something to look forward to for future students.
- Northern Virginia Community College – Community colleges always give a good option for those who want to graduate but need to work on a tight budget. Tuition and other school fees are minimal, but the quality of education is also good. Here, you can take courses in Accounting, Marketing, and International Business. Make sure to also check out the local organizations which you can join in order to widen your networks and list of prospective clients once you are already licensed to solicit some.
And that is all. For a person to become a stockbroker in Virginia, he/she needs to find a local broker-dealer firm to sponsor him/her. After that, the person needs to take the required licensure examinations which are the Series 7 exams and either the Series 63/66 exams. A college education, albeit not strictly required, would greatly help anyone get the right opportunities and attract the right people. So, good luck out there!