The stock brokerage industry is a very delicate and unpredictable one. First, there will be glamorous days, yes, but there will also be boring ones. Everything will ultimately depend on you, as the future stockbroker. Remember that brokers have more in common with freelancers than with employees. Second, it is not the same everywhere. Each state has its unique qualifications and requirements for licensure, so make sure you accomplish the right ones. For aspiring stockbrokers in the state of Wisconsin, here’s what you have to keep in mind:
Take Qualifying Examinations
Aside from the need to join a brokerage firm for the training and all, a sponsor firm is also needed so you could qualify to take the required examinations.
The most basic test you have to pass for licensure is the Series 7 exam for brokers. All aspiring stockbrokers in the U.S. need to pass this one. For additional examinations, you would have to refer to the requirements of the specific firm you want to be part of.
A formal education is not required to be a stockbroker. So you really need to learn on the job. Attend your firm’s training and seminars, and learn from those who have spent a good time in the industry. Never stop learning as there is no specific strategy to succeed. See what works for you.
As mentioned before, a formal education is not required. This does not mean, however, that a college diploma would not be useful on the field because it would truly be. If you want a sure edge over your competitors, you might as well get a good college education. You might want to do so in your home state since college is also a good venue to widen your network of prospective clients. For university recommendations, refer to the following:
Recommended Colleges in Wisconsin
- DeVry University – The DeVry University located in Milwaukee offers the following levels of educational attainment: a Bachelor’s Degree, a Certificate, a Master’s Degree, a MACC Degree and an MBA Degree. They have an extensive selection of courses that are related to the stockbroker industry like accounting, administration, e-commerce, entrepreneurship, hospitality management, human resources management, IT management, international business, marketing and public administration.
- University of Phoenix – The University of Phoenix in Wisconsin can be found in two locations: Brookfield and Madison. They offer an Associate Degree, a Bachelor’s Degree, a Doctoral Degree, a Master’s Degree, a MACC Degree and an MBA Degree. The courses that they offer on the other hand are the likes of Accounting, Administration, Entrepreneurship, Hospitality Management, Human Resources Management, IT Management and Marketing and Music/Entertainment/Sports Management.
Again, to become a stockbroker in Wisconsin, you first have to look for a sponsor firm based in Wisconsin, and then take the required examinations. After those formal requirements, be responsible for your own growth in the industry. Good luck on your budding career as a stockbroker, I hope you do well!