Now more than ever is the time to consider a broker dealer sponsorship. What is a broker dealer? This is the person who is responsible for purchasing and selling securities for a company. The organization or firm a broker dealer works for might be a limited partnership, also known as a limited liability company (LLC).

What Does a Broker Dealer Do for a Firm?

The broker dealer is in charge of the purchase and sales of securities for a business. This person completes these actions by acting in the capacity of either a dealer or agent.

A broker dealer who is acting as the agent assists their client in the purchase or sale of securities. When they are acting as a dealer, they are the one who does the actual purchase or sales.

Whichever role the broker dealer is playing, there are strict regulations that must be adhered to. Sometimes known as “registered broker dealers”, these professionals are required to register with the federal and state authorities.

How Does Someone Secure a Broker Dealer Sponsorship?

With over 17,000 investment agencies throughout the United States, many businesses could use a broker dealer’s assistance. So how does one secure a broker dealer sponsorship?

If you want to be a broker dealer, it involves much more than the acquisition of a degree in finance. A job as a broker dealer requires you to be licensed, which means certain examinations must be taken and passed. The Financial Industry Regulatory Authority is how these examinations are overseen.

However, to take the FINRA exam, you are required to have a sponsor.

Who Provides a Broker Dealer Sponsorship?

The options are slim to someone who is looking for a broker dealer sponsorship position. Most of the candidates for these exams already are being sponsored by an SRO or a self-regulated organization. These people use their jobs at a FINRA member securities firm to acquire the necessary sponsorship. There are many opportunities for various FINRA exams this way; yet, with so many wanting a sponsorship, there is a lot of competition.

Be Diligent

Achieving a broker dealer sponsorship may prove challenging. However, if you are diligent, you will eventually land that rewarding career you desire as a broker dealer.