Become a Successful Stockbroker

Tips for becoming a successful stockbroker

Hey, let’s face it, becoming a successful stockbroker is far from easy. But, if it was that easy, everyone would be doing it. If you happen to be one of the lucky ones who’re determined enough and have the right personality, being a stockbroker can be a very rewarding career.

Securities Licenses Needed

As of the time of this writing, you need to pass the SIE Exam (Securities Industry Essentials Exam), the Series 7 Exam, and either the Series 63 Exam or the Series 66 Exam. Now, the SIE test can be taken without sponsorship, so, most candidates take that exam prior to looking for a stockbroker job. After that, you can look for a job and get sponsored by the firm so that you can take your Series 7 test.

Cold Calling

Typically, after you’re hired, most firms will have you cold call for a certain period of time at the firm while you are expected to study at home or take a class for the Series 7. Don’t let that concern you…they’re just trying to find out if you have what it takes to make a good and successful stockbroker

Smile and Dial

As with any sales job, the more people you contact, the more potential clients you’ll get. As your pitch gets better and you gain more confidence, instead of getting one potential client out of 200 phone calls, it might end up being one out of 50. Have friends, family, and coworkers test you so that you feel comfortable overcoming objections. Remember, it’s a numbers game.

Do Your Homework

Your principal or manager (a Series 24 licensed individual) will go over what securities you should be promoting. Take in all the information he/she gives you and do as much research on each security on your own so that you know what you’re talking about. Really knowing what you’re talking about will give you a leg up on a lot of other stockbrokers. If you come across a security that you think has a good potential, run it past your manager.

Make the Phone Call you Dread Making

Hopefully, you’ll be up and running fairly quickly and start building a client base. Along with that, you can assume that even though your firm and you have done a lot of research on the securities you’ve recommended, at some point, the prices are going to drop. I’m not talking about little fluctuations, but sometimes the market in general or certain securities take a big hit. If that happens, call your clients to let them know you’re there and make recommendations based on your knowledge. Most of your clients have been through this before and will understand the fluctuations in the market.


To become a successful stockbroker, you should not only study securities and the market but you should consider taking additional courses and getting licenses that will help you better serve your clients, which will lead to more money for you. Instead of taking the Series 63, take the Series 66 instead because that will allow you to also become an investment adviser representative. Also, getting a Series 24 license will allow you to make money off of other registered reps working under you. Besides that, there are many other licenses (see the list here) such as the Registered Options Principal Exam, the Municipal Securities Principal Exam, and so on, which might be beneficial. Talk it over with your firm.

Anyway, above are just some of the things you need to keep in mind when starting your career as a stockbroker. Good luck!