| Stock brokers are responsible for buying and selling | | | | knowledgeable of the steps to take in order to |
| shares and other securities in the stock market. They | | | | become an independent stock broker. |
| do this on behalf of individuals or corporations. This | | | | Before your career as one can become a reality, you |
| process of buying and selling is only permitted by | | | | will need to become more qualified. To do this you |
| members of the stock exchange market. As a result, | | | | will need to register to sit the Series 7 Exam at the |
| when investors desire to buy or sell stocks, they | | | | National Association of Independent Securities |
| must obtain the service of a stock broker. These | | | | Dealers. This exam contains 260 questions and has |
| individuals are able to offer advice and counsel, to | | | | duration of approximately six hours. You will need to |
| the clients based on their desired investment. | | | | have a score of 70 percent of greater in order to |
| Information regarding the client's needs and financial | | | | pass. This exam tests your understanding of the |
| ability is gathered by the broker, who then decides | | | | details of the securities market and how accurately |
| on the best investment for his clients. Based on the | | | | you can explain this to a client. It also tests your |
| investment plan chosen, he conducts the transaction | | | | ability to make the necessary recommendations on |
| on the buyer or sellers behalf. | | | | an investment, based on suggested cases. |
| Currently, many brokers have decided to launch out | | | | The next step you will need to take. is to register as |
| on their own, as independent brokers, in an attempt | | | | an independent broker. This is done with the |
| to make their own decisions and pocket more of the | | | | Securities and Exchange Commission by completing |
| income generated. This move will be an advantage | | | | and filing a FOCUS form. This form can be filed |
| for many, as there are many clients who prefer to | | | | electronically or through the mail. |
| be associated with an independent broker, instead of | | | | In order to complete the process, you will then be |
| a large brokerage firm. This is because, they believe | | | | required to open an account with a brokerage firm, |
| that independent stock brokers are more objective, | | | | such as Schwab or TD Waterhouse. This brokerage |
| will face less conflicts of interest and will put the | | | | firm will act as a keeper for funds you may hold on |
| interest of the client first. | | | | behalf of your clients. Independent stock brokers are |
| Every year millions of new investors enter the stock | | | | free from the burdensome fees that brokerage firms |
| market, with enough new business to overwhelm | | | | tend to charge traditional stock brokers that they |
| stock brokers, making it hard for them to address | | | | employ. |
| every investor's demand. This is an indication that | | | | After completing these three crucial steps, you may |
| many new opportunities are being made available for | | | | then begin to seek clients and conduct their |
| an independent stock broker. However, in order to | | | | transactions on their behalf, while pocketing majority |
| take advantage of these opportunities, one must be | | | | of the fees and commissions. |