Stockbroker

A stockbroker is a regulated professional individual, usually associated with a brokerage firm or broker-dealer, who buys and sells stocks and other securities for both retail and institutional clients, through a stock exchange or over the counter, in return for a fee or commission. Stockbrokers are known by numerous professional designations, depending on the license they hold, the type of securities they sell, or the services they provide. In the United States, a stockbroker must pass both the Series 7 and either the Series 63 or the Series 66 exams in order to be properly licensed.

Educational requirements

It is technically possible to become a stockbroker without a college education. Perhaps the best known example of this is Chris Gardner upon whom the film The Pursuit of Happyness is based (although he had undergone education during his time in the Navy). His example is, however, an extremely rare event. For all practical purposes a stockbroker must have at least a bachelor's degree. Further, candidates that have a Masters of Finance or a master's degree in a related field are in higher demand and tend to receive higher compensation than bachelor's degree holders. In addition to an education background in finance, brokerages must sponsor applicants in order for them to be able to take the required industry exams.