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Work experience - Stockbroker?

L

Lonyo

Lifer
At my school (further education), we do work experience where we go to a company and do "hands on" stuff, I was wondering if it was probably that I coudl get such experience at a stockbrokers or whether they were not likely to offer this, as it's dealing with money.

I like the stock market, and have a vaguely good idea of how some things work, but not all, the only trouble s that while I'm continuing maths, I have no business subject experience.

Would most stockbrokers allow work experience?
 
You can't be a stockbroker without passing a SEC exam, so it's doubtful you'd get to do much.
 
They'd probably have you doing office work or cold calling. i think you need a Series 7 license to trade equities.

-geoff
 
Sure, why not. They won't let you make trades but might give you duties to give you an understanding of things. There are always internships as well as low level jobs with member firms on the exchanges as well to gain experience.
 
Originally posted by: ggavinmoss
They'd probably have you doing office work or cold calling. i think you need a Series 7 license to trade equities.

-geoff
Click to expand...

my friend worked at a stock brokers, he mainly did office work and cold calling..... you need a license to actually trade
 
Originally posted by: milagro
because you used "maths" i have to ask...

are you vietnamese?
Click to expand...


I am Vietnamese and I have never seen anyone use that word. How did you make the link between maths and being Vietnamese?
 
You need to know more about selling and cold calling than actually trading stocks. Brokers don't make much money until they have a huge portfolio of clients valued in the tens of millions of dollars.

It takes a long time to get a million, let alone tens of millions. So you'll spend alot of time on the phone, alot of time networking, all in the hopes to attract big money so you can have it, "under management."
 
You goto any firm and start with cold calling. if successful, ur upgraded to intern, and then research assistant, and so forth until you're old and mature looking to be a stockbroker. my cousin worked on wall street until the bubble burst.

cold calling will also be much tougher given the FCC's new Do Not Call list
 
Originally posted by: kranky
You can't be a stockbroker without passing a SEC exam, so it's doubtful you'd get to do much.
Click to expand...

Technically, you register with the SEC and it's the NASD's test (Series 7, at the very least) that you have to pass.

I'm a registered rep for New England Financial (NEF!) with a series 6 and 63 so I can sell variable products / mutual funds but excluding stocks, bonds, etc.

The Series 7 is difficult but not impossible if you have some brains about you.

I passed the 6 and 63 back-to-back in one day, and all I did was study like a madman for 3 days after taking a course.
However, it still seems that I accomplished something superhuman, as no one in my agency has heard of someone passing both tests at the same time before. Go me.

And ditto on the sentiments of posts a couple ones above this. You'll have a LOT of cold calling ahead of you which is really tough considering you're no longer allowed to do so.
rolleye.gif

 
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