In order to become an investor, a financial advisor or perhaps a stock broker, you must pass the series 6 exam. Once you have completed the Series 6 exam, you will often start training using the company which sponsored you to definitely take the exam. There are many steps that you will start to go through over your first 12 months after the Series 6 exam, including preliminary supervised training, building your book of business and customer service.
Supervised Training
Nevertheless there is a needed supervision phase following the Series 6 exam, each organization or firm has a different in house requirement. Some firms will require you to definitely receive guidance for 3 months, while others will require 6 months to a year. What does this mean? A licensed representative or supervisor will oversee all your daily activities including, but not restricted to: prospecting, customer and communication, client meetings and dealings. Although you is going to be independently carrying out many of the job functions, the actual supervisor can there be to ensure that you become properly trained as well as to protect the actual interests from the clients that you are working with.
Along with supervision, you will also go through inventory broker training. This training consists of recruiting and advertising assistance, customer meeting preparation and facilitation, communication and compliance training, familiarization using the client service model, summary of the firm's internal systems and investment education. Your own education of investments and the markets won't end when you pass the actual Series 6 exam. In fact, this is just the beginning step for future stock agents to become properly trained and to create a successful book of business.
Creating your Book of Business
Now that you have passed your series 6 exam and you've got started your supervised training, you will start to build your book of business. As the Series 6 exam shows you the fundamentals of methods to work securities, it does not teach you building your book of business. An active client base is the key to a long-term financial career. While many future stock agents enter into the actual career to manage money, they don't realize that in the initial 1-3 years, they will be spending a large proportion of their time prospecting for brand new business.
Inventory brokers might spend between 12-30 hours each week prospecting in the initial 12 months. Many firms do not supply new inventory brokers by having an initial book of clients and property, requiring you to definitely build your personal. You will spend period making outbound calls, requesting referrals, going to trade shows, going to networking functions and giving seminars to construct your customers.
Client Service
After you have began to acquire new clients, you will need to properly service these to maintain the relationship and their property with the firm that you are employed by. You will routine and maintain normal client meetings to review investment portfolios and to help to make changes.
The career of stock agents is powerful and difficult, requiring you to definitely learn how to prospect, build investment portfolios and to develop superior customer service skills. Passing the actual Series 6 exam is just the beginning into a fruitful monetary services career.
