Top 10 Broker Assistant Certifications

Certifications for a broker assistant are important in the job market because they demonstrate to potential employers that the individual has the knowledge and skills required to successfully perform the job. Having a certification shows that the individual has been trained and tested on certain topics related to the role, such as securities regulations, investment analysis, customer service, and more. Certifications also signify that an individual is dedicated to staying up-to-date with industry trends and developments. Ultimately, these qualifications can help individuals stand out from other job applicants and increase their chances of getting hired.

This article reviews some of the top certifications for Broker Assistants and explains how they can help to advance their career.

What are Broker Assistant Certifications?

Broker assistant certification is a professional designation that provides recognition to individuals who have demonstrated proficiency and expertise in certain aspects of the securities industry. This certification is available through the Financial Industry Regulatory Authority (FINRA) and requires passing an exam that covers topics such as investment strategies, regulations, and market analysis. With this certification, broker assistants are better equipped to assist brokers in their daily activities.

The certification helps broker assistants stand out from other candidates when applying for jobs or promotions. It also demonstrates to employers that they possess the knowledge and skills necessary to effectively assist brokers in their day-to-day operations. Additionally, having this certification may open up opportunities for broker assistants to take on more advanced roles within the industry, such as trading or portfolio management. Ultimately, becoming certified as a broker assistant can help boost career advancement prospects while also providing assurance that they are knowledgeable and well-versed in all aspects of the securities industry.

Pro Tip: When considering broker assistant certification, make sure to research the various certifications available and select one that meets your specific professional needs. It's also important to ensure that the program you choose is accredited and has a good reputation in the industry. Additionally, make sure to take advantage of any continuing education opportunities offered by your chosen certification program.

Related: What does a Broker Assistant do?

Top 10 Broker Assistant Certifications

Here’s our list of the best certifications available to Broker Assistants today.

1. Certified Broker Assistant (CBA)

Certified Broker Assistant (CBA) is a professional designation that is earned by individuals who have completed a comprehensive program of study in the field of securities and investments. The CBA designation is offered by the Financial Industry Regulatory Authority (FINRA). This certification is designed to demonstrate an individual’s knowledge and expertise in the areas of securities trading, compliance, customer service, and risk management.

The CBA program typically takes between 4-6 months to complete. During this time, individuals must pass a series of courses and tests that cover topics such as investment products, regulations, customer service, and risk management. Upon successful completion of the program, individuals will receive their CBA certificate.

In order to be eligible for the CBA program, individuals must first meet certain requirements. These include being at least 18 years old and having either a high school diploma or its equivalent. Additionally, applicants must have at least one year of experience working in the securities industry or related fields prior to enrolling in the CBA program.

The cost for obtaining a CBA certification varies depending on which institution offers it. Generally speaking, however, it can range from $500-$2,000 USD depending on whether you are taking an online course or attending an in-person class.

2. Certified Brokerage Operations Professional (CBOP)

Certified Brokerage Operations Professional (CBOP) is a professional certification program designed to recognize individuals who possess the knowledge and skills necessary to perform brokerage operations. The CBOP certification is administered by the Institute of Certified Brokerage Operations Professionals (ICBOP). This certification is designed for individuals who are currently employed in, or aspire to work in, the securities industry.

To become a Certified Brokerage Operations Professional, applicants must pass an exam administered by ICBOP. The exam consists of two parts: a written test and a practical application test. The written portion covers topics such as customer service, compliance, operations and risk management. The practical application portion requires applicants to demonstrate their ability to apply their knowledge in real-world scenarios.

The exam takes approximately three hours to complete and costs $395 USD. To be eligible for the CBOP certification, applicants must have at least two years of experience working in the securities industry or have completed an accredited college or university program related to securities operations. Additionally, applicants must meet certain educational requirements and submit an application form with supporting documents prior to taking the exam.

3. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. to individuals who have met certain educational, experience, and ethical requirements. A CFP is someone who has demonstrated knowledge and competency in financial planning through education, experience and examination.

It typically takes three to four years to become a CFP. To get the designation, individuals must complete an approved college-level course of study in financial planning, pass the CFP Certification Examination administered by the CFP Board and meet other ethics and experience requirements.

The cost of becoming a CFP varies depending on the individual's circumstances. Generally speaking, it can cost anywhere from $2,000 - $5,000 for tuition fees for coursework leading up to the exam; there are also additional costs associated with exam registration fees ($595), study materials ($400 - $600), and membership dues ($325).

4. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation offered by the CFA Institute, a global association of investment professionals. The CFA credential is highly sought after and signifies expertise in investment management and financial analysis. It is considered one of the most prestigious designations in the finance industry.

The CFA program consists of three levels that must be completed over a period of time. Level I requires approximately 300 hours of study, Level II requires approximately 250 hours, and Level III requires approximately 200 hours. In total, it takes about 750 hours to complete all three levels.

To become a CFA charterholder, candidates must pass all three exams within four years and have at least four years of qualified work experience related to investments. Candidates must also adhere to the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

The cost to take the exams varies depending on when you register for them; however, it typically costs around $1,000 per exam. Additionally, there are additional fees for study materials and membership dues that need to be taken into consideration when budgeting for the program.

5. Chartered Investment Counselor (CIC)

Chartered Investment Counselor (CIC) is a professional designation that recognizes financial advisors who specialize in providing investment advice to clients. The CIC designation is awarded by the Investment Counsel Association of America (ICAA).

To become a CIC, individuals must have a minimum of five years of experience as an investment advisor and meet the ICAA’s educational requirements. This includes completing at least 10 courses related to investments, portfolio management, and other topics. Candidates must also pass an exam administered by the ICAA.

The process typically takes six months or longer to complete, depending on the individual’s experience and ability to complete the required coursework and pass the exam.

The cost of becoming a CIC varies depending on the number of courses taken and other factors. Generally speaking, it can range from several hundred dollars to several thousand dollars.

6. Registered Financial Consultant (RFC)

A Registered Financial Consultant (RFC) is a professional designation awarded by the International Association of Registered Financial Consultants (IARFC). The RFC credential is designed to recognize financial professionals who have met stringent educational, experience, and ethical requirements.

The application process for the RFC credential requires applicants to meet certain educational and experience requirements as well as pass an exam. Applicants must have a minimum of three years of full-time financial services experience and must have earned at least 30 hours of continuing education credits in the last two years. They must also complete a background check and agree to abide by the IARFC Code of Ethics.

It typically takes about six months for an applicant to complete all the necessary steps for obtaining the RFC designation. During this time, applicants will need to submit their application materials, take the exam, and complete any additional requirements imposed by their state or local regulatory agencies.

The cost of becoming an RFC varies depending on where you live and which organization you are applying through. Generally speaking, it costs around $500-$1,000 to become an RFC. This fee covers the cost of taking the exam, submitting your application materials, and any other fees associated with obtaining your certification.

7. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional certification program offered by the Investments & Wealth Institute. It is designed to provide financial advisors and other investment professionals with an in-depth understanding of the principles and practices of portfolio management, asset allocation, and risk management. The CIMA certification demonstrates that an individual has achieved a high level of expertise in the field of investment management.

The CIMA program consists of three core courses: Investment Management Theory, Asset Allocation, and Risk Management. The courses are offered online or in a classroom setting and take approximately 12 weeks to complete. The cost for the three courses is $2,495 USD.

In order to become certified as a CIMA, individuals must pass all three exams associated with the program. Each exam consists of multiple-choice questions and takes approximately two hours to complete. Candidates must also have at least three years of experience in the field of investment management or finance and must submit a work history form prior to taking the exams.

Once all three exams have been successfully completed, candidates will receive their CIMA certification from the Investments & Wealth Institute. This certification is valid for five years from the date it was issued and can be renewed through continuing education credits or by retaking any one of the three exams.

8. Accredited Asset Management Specialist (AAMS)

Accredited Asset Management Specialist (AAMS) is a professional designation in the field of financial planning and asset management. It is offered by the College for Financial Planning, a subsidiary of Kaplan University. The AAMS designation is designed to provide financial advisors with the knowledge and skills necessary to effectively manage client assets.

The AAMS program consists of three courses: Investment Strategies and Risk Management, Retirement Planning, and Portfolio Construction and Evaluation. Each course must be completed within one year of starting the program. The total cost for all three courses is $1,295 plus applicable taxes.

To receive the AAMS designation, individuals must complete all three courses successfully, pass an exam administered by the College for Financial Planning, and meet certain experience requirements as outlined on their website. The exam consists of 125 multiple-choice questions that must be completed within two hours. After passing the exam, individuals are required to submit an application along with supporting documentation to receive their AAMS designation.

Overall, it typically takes between 4-6 months to complete all requirements for receiving the AAMS designation.

9. Registered Securities Representative (RSR)

A Registered Securities Representative (RSR) is a professional who is licensed by the Financial Industry Regulatory Authority (FINRA) to buy and sell securities. This includes stocks, bonds, mutual funds, options, and other types of investments. In order to become an RSR, individuals must pass the Series 7 exam administered by FINRA. The exam covers topics such as investment analysis, customer relations, regulations and laws related to securities transactions, and more.

The process of becoming an RSR can take anywhere from several weeks to several months depending on the individual’s availability for studying and taking the exam. To get started, individuals must first register with FINRA’s Central Registration Depository (CRD). Once registered, they can apply for their Series 7 exam through their CRD account. After passing the Series 7 exam, individuals must also complete additional training requirements in order to be approved by FINRA as a Registered Securities Representative.

The cost of becoming an RSR varies depending on which firm or organization you are registering with and what type of services they offer. Generally speaking, it will cost between $100-$500 to take the Series 7 exam alone. Additionally, there may be fees associated with registering with FINRA’s CRD system or completing any additional training requirements that may be required before being approved as an RSR.

10. Series 7 License

The Series 7 License is a professional qualification exam administered by the Financial Industry Regulatory Authority (FINRA). It is required for individuals who wish to become registered representatives of broker-dealers, and it tests their knowledge of securities products and regulations. The exam consists of 260 multiple-choice questions and must be completed within six hours.

To get a Series 7 License, applicants must be sponsored by a FINRA member firm. They must also pass the Series 7 Exam with a score of at least 72%. The cost to take the exam varies depending on the state in which you are taking it, but generally ranges from $200-$300. Additionally, there may be additional fees associated with registering for the exam and obtaining study materials.

Do You Really Need a Broker Assistant Certificate?

The decision of whether or not to pursue a Broker Assistant Certificate depends on your individual needs and goals. In some cases, the certificate can be beneficial in helping you advance in a career in the financial services industry. However, it is important to consider if this certification is necessary for your specific situation.

If you are looking to become a broker or have aspirations of advancing in the field of finance, a Broker Assistant Certificate may be worth considering. This certification will provide you with the necessary skills and knowledge to help you stand out from other applicants and make yourself more competitive in the job market. Additionally, it can give you an edge when applying for positions such as a broker assistant or financial analyst.

On the other hand, if you already have experience working as a broker’s assistant or are already familiar with financial markets and regulations, then obtaining this certification may not be necessary. Many employers place more emphasis on experience than qualifications when selecting employees for higher-level roles. Therefore, even if you do not possess this certificate, having relevant work experience could be enough to land you an entry-level position in finance or brokerage firms.

When deciding whether or not to get a Broker Assistant Certificate, it is important to consider your individual career goals and current level of knowledge about financial markets and regulations. If obtaining this certification will help further your career goals and give you an advantage over other candidates in the job market, then it may be worth pursuing. However, if you already have experience that meets employer requirements for entry-level positions within the industry, then obtaining a Broker Assistant Certificate may not be necessary.

Related: Broker Assistant Resume Examples

FAQs About Broker Assistant Certifications

Q1. What is a Broker Assistant Certification?

A1. A Broker Assistant Certification is a professional designation that demonstrates an individual’s knowledge and expertise in the field of real estate brokerage. This certification is typically obtained through completing an accredited broker assistant course, which includes topics such as ethical practices, recordkeeping and legal responsibilities of a broker assistant.

Q2. What are the requirements to become a Certified Broker Assistant?

A2. To become certified, applicants must have at least one year of experience in the real estate industry and complete an accredited broker assistant course. Additionally, they must pass a written exam administered by the state or local licensing board.

Q3. How long does it take to obtain a Broker Assistant Certification?

A3. The time required for obtaining a broker assistant certification varies depending on the applicant's prior experience and knowledge in the field of real estate brokerage, as well as their ability to complete the necessary coursework and pass the written examination. Generally, it can take anywhere from three months to one year to obtain certification.

Q4. What are some of the benefits of becoming a Certified Broker Assistant?

A4: Becoming certified as a Broker Assistant provides individuals with numerous benefits including increased job opportunities, higher salaries, greater credibility among clients and colleagues and recognition for their expertise in the field of real estate brokerage.

Q5: Is there an expiration date for my Broker Assistant Certification?

A5: Yes, most certifications have an expiration date that requires renewal after two years or other specified time frame depending on your state or local licensing board's regulations.