Are There Any Stockbrokers here???

you might want to subscribe and post this question in the "business" section

or

You might want to try the "other off topic"

I believe there are several on this board.

 

ahhhh I was buried in the 7 book for 2 weeks.

Business section would be better than Lambo..lol


Antony

 

No reason for this to have been posted in Lambo. And it is "ok" for it to be in other off topic but if you want the highest quality responses I can move this thread to the Business & Investments section of Fchat that is only accessable by subscribers.

That would, of course, require you to subscribe to either a Silver or a Rossa membership. More information on the memberships can be found by clicking on the "subscription info" tab near the upper right hand of your screen.

 

When i was sposored by my broker-dealer at the time they gave us a 2 week crash course and then another week to take practice exams.
It was a difficult test for me considering i had no financial experience and came from a restaurant background (yes, I thought I was going to make 250k the first year).
I received a 71 first time out, which to me meant i studied 1 question too much

Subsequently, the 63,4, 24, and 55 were a peice of cake.

Good luck

 

Just curious what they teach you in 2 weeks that qualifies you to advise people on investments?

 

nothing at all, lol.

Tey teach you what you need to know to pass the test, thats it. After you passed your tests (7 and 63) you were sent to the phones.
I took it back in 1997, I was sposored by a chopshop that basically needed cold callers to generate leads for the senior brokers.
After opening 40 accounts for your senior guy, you were then allowed to open accounts and keep them for yourself, basically set off to build your book.

Most brokers dont know how to invest, they know how to sell.

Register investment Advisors know more about investing, Brokers sell and sell and sell whatever their managers tell them what the 'stock du jour' was.

I didn't last because i sucked at 'pressure selling', thus I went to IT route in the brokerage industry.

The movie "Boiler Room" was not too far off.

 

If you have any background in stocks/finance/etc you should be able to get it in two weeks. If not, figuring out some very important things (ie Options) will take you a bit longer. Take a week long class and then go back and take the finals over and over again for the next few days and take the test at the end of the week with all the finals still in your head. This is what I did and I got between an 82-86.

 

Sounds like someone is a little worried about who is managing his retirement account. j/k!

 

Not at all. Just adding a little light...

 

I didn't know anything about "managing money" As stated before it was more of a compliance issue than what investment packages work. Its your responsibility to know the products available. you have to also know your client, how risk adverse they are, what type of growth they are looking for, etc.

Its all about selling. Most brokers spend about 15% of there time on managing money and 85% on acquiring new business.

Antony

 

That's been my experience; I automatically ignore anyone that cold calls me. I'm sure there are savvy brokers out there, but I've not had the good fortune (both figurative and literal) to come across the good ones. Most brokers are just salesman and shouldn't be trusted with their own money, let alone mine.