What does a Registered Representative do?
Published 3 min read
A Registered Representative is a person who is licensed by the Financial Industry Regulatory Authority (FINRA) to sell securities products.
Registered Representative job duties include:
- Contact potential clients to solicit business
- Make sales presentations to prospective clients
- Explain the features of various securities, such as stocks, bonds, and mutual funds
- Analyze financial information to determine the best investment options for clients
- Prepare reports detailing client investment portfolios
- Buy and sell securities on behalf of clients
- Monitor changes in the marketplace that could impact clients’ investments
- Provide advice and guidance to clients on investment strategies
- Maintain knowledge of current economic conditions and trends
Registered Representative Job Requirements
A Registered Representative is a stockbroker who must have a Series 7 license. This license allows them to buy and sell securities on behalf of their firm's clients. They must also have a Series 63 or 66 license. These licenses allow them to sell securities in their state. Registered Representatives must have a high school diploma or equivalent. Some firms may require a college degree. They must also complete on-the-job training.
Registered Representative Skills
- Communication
- Persuasion
- Negotiation
- Cold-calling
- Time management
- Organization
- Clientele development
- Prospecting
- Financial analysis
- Product knowledge
- Compliance
- Licensing
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How to become a Registered Representative
In order to become a Registered Representative, there are a few steps that must be followed. First, one must obtain a Series 7 license from the Financial Industry Regulatory Authority (FINRA). This license allows an individual to sell securities and give investment advice. Next, the individual must pass a background check and fingerprinting through FINRA. Finally, the individual must find a broker-dealer firm that is willing to hire him or her.
The first step in becoming a Registered Representative is to obtain a Series 7 license from the Financial Industry Regulatory Authority (FINRA). The Series 7 license allows an individual to sell securities and give investment advice. In order to obtain this license, the individual must pass an exam that covers topics such as investment securities, regulations, and ethical practices.
The next step is to pass a background check and fingerprinting through FINRA. FINRA requires all Registered Representatives to have a clean criminal history in order to protect investors. The background check will also ensure that the individual is not currently involved in any legal proceedings that could jeopardize his or her registration status.
Finally, the individual must find a broker-dealer firm that is willing to hire him or her. Once hired, the firm will provide the individual with training on their specific products and services. After completing this training, the individual will be able to work with clients and help them make investment decisions.
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