I have Series 7 and 63 licenses from institutional trading. I'm looking to transition to a stockbroker role. Think Scottrade, TD Ameritrade, etc.
How would you explain why the switch from trading to financial advisory?
Also, if they ask what do you plan on doing with this role long term, my goal would be to move into a role where I'm servicing active traders ie options, forex, futures traders. Also, block trading for institutions. Is this the right thing to say?
Has anyone done this successfully? Moved from trading to brokerage then moved to active or block trading inside the brokerage?
Thanks.
Bump
Maybe I don't understand what you're asking, but aren't places like Scottrade and TD Ameritrade online brokers? Wouldn't this necessitate you turning into a computer?
I'm trying to get a job at a place like that as an advisor. Then, I would try to get a job internally as an active trading professional working with retail traders who deal in futures, forex etc.
I already have S7 and S63 licenses.
thebrofessor
Do you know what he's referring to?
why do you want to work at scottrade/TD? they don't have brokers to my knowledge, maybe operations people with licenses, but no brokers
They have active trading sections that deal with retail clients. Retail investors trade with them to buy forex etc. Also, they have block trading for institutions. They have traders inside who do that.
Maybe I am misunderstanding the goal, but I don't see why you would want to do that. The people in Scottrade branch offices are just sales people that generate leads, educate clients, and try to bring in new business. I think you would be thoroughly disappointed if you thought it was going to be in some serious trading role. The most you would do is place an order for a customer.
Customer: "Hi, I'd like to buy $330 of Bank of America" You: "Yes, sir, that equates to X shares. Is that okay?"
All.Day.
The goal is to move into servicing retail clients maybe institutional who do forex, options, futures. They do that at TD Ameritrade etc
sorry dude, I'm lost. I think it's a dumb idea to want to launch an investment career at one of those firms, but go for it. I have no idea why you would ever voluntarily leave institutional trading for what is essentially the welfare line of wealth management.
Perhaps what you are looking for is brokerage at a firm like ICAP?
I would use it to get in the door then move to another role like active trader inside the company. I wouldn't do the branch role for long
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