Part 1: Start
1, get into a good university. I used to think that anyone who is sensitive to numbers and has rich connections can become a successful stockbroker, but now it's completely different! If you want to improve your competitiveness, you need to get a degree. A degree in economics, finance, mathematics, accounting or business management is very useful. And the better the school you go to, the more likely you are to win in the next competition! In particular, I want to go to graduate school and improve my grades. The higher your grades, the more and better schools will open the door for you. Needless to say, this will let you know in advance what you should do to enter the exchange market.
2. Look for internship opportunities. Some brokerage companies employ senior students as interns. Join the "investment club" of your university-or if there is no such organization for the time being, set up one yourself! Getting an ideal internship can make it easier for you to realize the dream of a billionaire. If you don't want to take an MBA, but want to enter this industry as soon as possible, this is the best way. But you should know that it is absolutely feasible to relax and take it step by step. Many people will go back to campus to study MBA after working for a few years, and then enter this industry. At the same time, people will be more willing to trust people who are 28 years old than 22 years old and give money to the former, so it is not a bad thing to wait a few more years.
3. consider an MBA degree. Well, getting an MBA is not necessary in itself, but if you want to be a top industry person, an MBA will eventually help you stand out from the candidates. Now more and more people get MBA degrees, so this condition is almost a prerequisite. This will help you gain greater advantages and higher pay in the process of finding a job. Similarly, before studying for MBA, you are free to choose how many years to work after graduation. Getting some feasible job opportunities (even some humble positions in banks or companies) will also bring you closer to your choice. Show that you have understood what you are doing or what you want to do, which will make you participate in project learning more seriously.
4. Self-education. Reading. Observe. Show yourself. Learning this is for you to improve yourself through self-practice. So read a book! Watch financial news programs. Follow up different stocks and see the ups and downs. When others keep ferrets or play football in their spare time, you should make sure that you can get a six-figure starting salary after leaving campus. Try reading William? Bernstein's book The Four Pillars of Investment: The Course of Winning Securities, or Mark? Hebner index fund: 12 Step project, for active investors. The financial section of The Wall Street Journal or The New York Times is also very good.
You may know more than six people who are involved in the investment. Ask them for advice! You need training now, because this is the current academic trend. In the past, I entered the business only by strong interest. Therefore, all resources must be fully utilized as soon as possible.
5. Build your own investment. When you are about the same age, start to pay attention to your money situation (if you are under 18, you need to fill in your parents' names). Cooperate with a family member in this line of work to see if you can apply what you have learned. If you can't trust yourself and manipulate your money, how can you convince others that you will manage their property? !
Part 2: Planning for the future
1, consider your choice. You can consider the following three steps in your career: becoming a full-service broker. For example, working in a company like Merrill Lynch or Morgan Stanley. In order to succeed here, you must be a person who pays great attention to sales. The company will provide you with certain space, train you and offer you a starting salary until you pass the probation period.
Become a discount ticket broker. Charles schwab or Fidelity Investment are two examples. If you prefer to do service, this is a good choice. You will get a good salary and take on less responsibilities, mainly helping people who ask for your help to do business, but "don't" give advice.
Become a bank broker. This is very direct-working in a bank. Bank customers will buy fixed annuities from you or make other more conservative choices. Discounting ticket brokers usually requires some financial knowledge (deferred delivery, stock options, financing accounts, derivatives, bonds, etc. ), and full-service brokers need to be particularly proficient in one aspect, such as deferred delivery of individual retirement accounts or stock selection of employees.
Full-service brokers need to find their own customers. However, they also have working space and a starting salary. It's like posting in a ticket broker, paying management fees and taking fewer appointments. This is an equal relationship between giving and receiving.
2. Research companies. If you have narrowed it down to knowing what kind of broker you want to be, you still have to decide which company you want to apply for. Just like if you decide to buy a pair of trousers that can last for ten years, you need to buy a pair that suits you completely. What are the main considerations? Company size. Big companies may usually provide you with competitive training opportunities, which will make you more entrepreneurial from the beginning and ease your panic. However, you may feel that you are just a small fish in a big pond.
Small companies can give you the attention you want and make you feel more personalized (and offer a higher commission rate), but they can't provide training for customers or larger projects.
3. receive training in the company. You need several months of vocational training to get a license and become a qualified stockbroker. It all depends on who you are employed by. Some people may call it an internship, while others think it is a kind of pre-practice. Some will provide more money. But no matter what method is adopted, it is a necessary step before testing.
Part 3: Fully qualified
1, take the necessary exams. There are two "compulsory" exams: series 7 exams. The official name is "Securities Broker Examination". This exam sponsored by FINRA is the most difficult one for you, lasting 6 hours. After passing this exam, you will become a "registered representative" or a stockbroker. You have the right to sell all securities and investments except real estate, insurance and commodity futures. The current examination fee is $290.00 (1750 RMB).
Series63 exam, this is just an exam on many laws about business operation and management transactions. The exam time is shorter, only 75 minutes, which is more relaxed. The examination fee is USD 96.00 (580 yuan RMB).
2. Consider taking exams for other majors. These are not necessary, but they will make you omnipotent. Do you still remember that after passing the Series7 exam, you still have some areas that you can't cover? After passing these exams, all obstacles will be removed. Series 65 exam. Your company may need you to become a "registered investment consultant". You must pass this exam so that they can use the professional management platform.
Series 66 exam. This is a combination of 63 and 65.
Series 3 exam. The sale of commodity futures contracts requires this test.
Series 3 1 exam. In order to sell and manage futures funds, you need to pass this exam. It can usually replace the "Series 3" exam.
If you are in England, you should know that the examination process is completely different. This series of inspections is unnecessary. You can choose to obtain a Certified Financial Analyst (CFA) certificate in investment management, a degree from the Securities Investment Association in investment advice, a master's degree from the Securities Investment Association in wealth management, become a member or assistant of the Association of Actuaries or the British Actuarial Society, or obtain a bachelor's degree in financial services, planning and management from Manchester City University.
4. Deal with a lot of paperwork. After the exam, you need to register with the Financial Supervisory Authority of the United States or the American Futures Association, and register with the Securities and Exchange Commission of each state where you plan to work. The following are the basic requirements: pass the background check (any mistake except minor traffic violations will disqualify you).
Get a fingerprint card.
Complete paperwork at the state and national levels.
5. Complete the quota and pass the assessment in the first year. If only the hard part had passed. But now that you are a legal agent, you need to fulfill some expectations. Your company may give you six months to a year to build your customer base. This is the hardest part. In fact, many people need several years to get familiar with this industry and feel comfortable. This industry is under great pressure, but it is well worth doing. Most people who want to quit have quit now. Wealth will not come as scheduled, they are not good sellers. They can't stand trying to find customers for a long time, and they failed because they didn't bring enough benefits to the company. If you can get through the most difficult stage, you will shine like gold.
6. Continue to receive education courses. In order to get a license, you need to attend seminars and attend continuous courses. Your employer will provide you with these courses. Just stick to it! You know, the market is changing all the time.
Part 4: Achieving Career Success
1. Establish a customer base. Similarly, there are three traditional methods: calling without an appointment or knocking at the door directly. You pick up the phone book and contact them one by one (the phone book still exists amazingly in some places), and then you start making phone calls with a smile. You can also get a block list from the county secretary and knock on the door. Yes, so you may face being chased by a dog.
A list of potential customers. You can buy it from the marketing company or get it from the boss. Think it over in case you are accused of a crime.
Through your own social network. Contact friends, friends of friends, friends of long-lost uncles, join exchange clubs and various organizations to know their members, and so on.
2. Overcome the learning curve. Obviously, the stock market is not a simple place like 2+2=4. Tens of thousands of factors exist at the same time, and you need to judge. You will constantly give advice to others and take risks with their hard-earned money. There are many things you need to get used to here. Of course, this "a lot" is only a rather inadequate conservative estimate. The money you bring home is increasing every year. Isn't it amazing that the easier you work, the more money you earn? The hardest thing is how to really snowball.
First of all, you will always work. Whenever you meet a client, you are working. This means the same thing at night, weekends and holidays. But when you build a solid customer base, you will find that you only need to work for 6 hours, and you can take a break whenever necessary. This will only take a few years to achieve.
3. Get used to the sales pressure from time to time. You must reach a certain share in one day. If you don't have a certain crowd to support your sales, it will be very dangerous. Unless you have some customers you can rely on who will invest in you, you will be under pressure every minute. For some people, this kind of pressure is very great. Similarly, if you are not an excellent seller, a discount ticket broker or a bank broker may be more suitable for you. Sales is not for everyone. You can also start with banks or discount bills, build your network, and then "continue" to be a full-service broker.
4. Learn to persuade people. All your job is to make people trust you. Entrust their hard-earned money to you. This needs a lot of things! Not to mention that you may be a complete stranger. How do you take the first step? At this time, you need a mentor. In order to prevent others from hanging up on you or slamming your door, professionals will use some tricks. Needless to say, you need to cultivate thick skin.
5. Talk effectively. To put it simply: you need to know many technical terms and definitions that ordinary people don't understand. This is your job. Don't dwell on abbreviations or definitions that people don't understand, you should consider them from their perspective. Can you easily explain everything you know to everyone? I hope so!
6. Working for an independent broker. Ruijie Financial Group or Lip Finance are two examples of independent brokers. They offer almost any stock items, and their employees will handle 80-95% of the large expenses of customers (full-time brokers are only responsible for 40% of the expenses when they first join the company, and this share will rise slowly and steadily over time). You need a formed customer base. Very, very large customer base. For this purpose, certified public accountants (CPA) and people who pay taxes for others often have advantages in this respect. Of course, this is very enviable. After participating in this game for a period of time, your possibilities are infinite.
Tips: After working for four years, brokers can also obtain the certificate of certified financial analyst through three exams.
FINRA (American Financial Supervisory Authority) and NASAA (North American Securities Managers Association) require a correct rate of 70%, except for series 7, 63 and 65, whose passing line is 72%. Series66 needs 75% accuracy to pass.
Warn stockbrokers and sales agencies that they often work more than 40 hours a week, including evenings and weekends.
The profession of stockbroker is challenging, stressful and changeable.
Many brokers prefer to hire brokers who have succeeded in other financial fields.