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Q: Stock Broker Licenses ( Answered 5 out of 5 stars,   0 Comments )
Subject: Stock Broker Licenses
Category: Business and Money > Finance
Asked by: intouch-ga
List Price: $50.00
Posted: 15 Jun 2005 14:42 PDT
Expires: 15 Jul 2005 14:42 PDT
Question ID: 533677
Need to know how many series 6 & 7 licensees there are in the US. We
need the total number or as close to it as possible. We are conducting
a survey and would like to survey at least 100 of them so would like a
mailing list or the ability to email a survey to them.

Clarification of Question by intouch-ga on 15 Jun 2005 14:43 PDT
We will also need to source the data - i.e. NASD or other source.

Request for Question Clarification by pafalafa-ga on 15 Jun 2005 20:02 PDT

There are private mailing-list firms that sell lists of stockbroker
names -- the names can be selected by series (6 or 7, for instance)
and by other criteria such as geography, firm, etc.

There are many thousands of series 6 and 7 brokers in the country. Do
you reall need a precise number of how many there are?  This might be
difficult to come by.

But a list of a few hundred series 6-and-7 names would run you about
$100 at a private firm.  Does this seem a viable option for you?


Clarification of Question by intouch-ga on 16 Jun 2005 12:52 PDT
This question is specifically about how many people in the U.S. hold
either a series 6 or series 7 license from NASD, and the source for
the data.  We are aware of the possibility of buying a list, and we
will probably buy at least the use of one for the survey, but we still
want to know the total number who hold either a series 6 or a series
7, or both.  The precise number isn't expected, since it can change
daily, but an accurate approximation based upon valid, verifiable data
is desired, something within 3% variance or close to it.  We know from
the NASD webiste how many registered reps there are in the U.S., but
there is no breakdown by license held.  Does this clarification help?

Request for Question Clarification by pafalafa-ga on 16 Jun 2005 13:12 PDT
I'll see what I can do.

As to your question, are you looking for a SINGLE NUMBER of the total
number of people with either a series 6 or series 7 license?

Or do you want a breakout -- number with series 6 and the number with
series 7?  This second option is much trickier, since many brokers
hold both a 6 and a 7 license, so potentially a lot of double-counting
would go on.

Let me know your druthers on this.


Clarification of Question by intouch-ga on 17 Jun 2005 08:08 PDT
What we want is the easier of what you mentioned.  We want the total
number of people who hold either one or both of the Series 6 / Series
Subject: Re: Stock Broker Licenses
Answered By: pafalafa-ga on 17 Jun 2005 08:56 PDT
Rated:5 out of 5 stars

And the answer is...


This is the number of series 6 and series 7 brokers in the US.

The number was gleaned from a useful counting-tool at:

BrokerHunter is a specialty mailing list firm.  As the site describes itself:

"BrokerHunter now offers firms, what we believe to be, the largest,
most detailed, and up to date database of Securities Industry
employees available with access to over 440,000 records.

You can get started right away and it's easy!

Just click here to get a count of Registered Securities Industry
people in the area of your choice..."

Using their counting option, I was able to create a count of all the
brokers with a series 6 or series 7 (or both) license.  Since the
count option maxes out at 50,000, I was not able to count the entire
US at once, but instead accessed the information a few states at a

For instance, setting the options at:

Series 6
Series 7  

and selecting the first four states:


gave the following results:

"There are 9878 brokers that match your qualifications.."

Similarly, a search only on the state of California gave a result of
24,983 brokers.

Summing up all the state totals, I arrived at the figure above:  299,867

I trust this information fully answers your question.

However, please don't rate this answer until you have everything you
need.  If there's anything more I can do for you, just post a Request
for Clarification, and I'm happy to assist you further.


search strategy -- Google search on: [ stockbrokers mailing list ]

Request for Answer Clarification by intouch-ga on 17 Jun 2005 11:55 PDT
Fascinating!  I've tried to duplicate your results on, but was unable to find the tool that you found.  Can
you direct me to it?

Second, from the NASD I know that as of April 2005 they have 660,547
registered reps.  The fact that brokerhunter says they have "over
440,000" makes me think that they have about two-thirds of the
registered reps in their list.  Still, what you have found is a very
useful tool, and you got much further on this than I did.

Clarification of Answer by pafalafa-ga on 17 Jun 2005 12:11 PDT
Glad you liked it, but I owe you an apology for posting an incomplete link.  

The correct link to the count-tool is here:

At the very bottom of the page is a link that says:  "Click Here to get started."

Click get started!


Clarification of Answer by pafalafa-ga on 17 Jun 2005 12:15 PDT
As for your second point, I wasn't sure about your intent.  Did you
want me to do any sort of follow-up on those numbers?  If so, what
would you like?


Request for Answer Clarification by intouch-ga on 17 Jun 2005 12:44 PDT
Thanks for the link.  I was able to duplicate your results for California.

What I'm interested in finding out is if the 440,000 is a
representative sampling of the 660,000.  I'm inclined to think that it
is.  If that is the case, then the roughly 300,000 you found can be
extrapolated to 450,000 as the total figure.

We can't expect that Broker Hunter has every licensee in their
database.  Two-thirds is probably as good as they can get.

I've already got a call in to Broker Hunter and have asked for a call
back.  I'll discuss this point and other things.

Your work is very much appreciated and we are quite happy with the results.

Clarification of Answer by pafalafa-ga on 17 Jun 2005 14:38 PDT
Thanks for the update.

If you can, let me know how things work out after your call with BrokerHunter.

And of course, if there's anything else you need from me on this one, just holler.


Request for Answer Clarification by intouch-ga on 20 Jun 2005 12:39 PDT
This is the first time I've used Google Answers.  Before I rate the
answer (excellent) and close the question, I want to make sure that I
have a way to reach you after the question is closed.  Will it still
be possible for me to send you a message through Google Answers after
the question is closed?

Clarification of Answer by pafalafa-ga on 20 Jun 2005 12:46 PDT
I take it from your note that you were pleased with the results from
your first use of Google Answers, which is always nice to hear.

You can reach me any time, even after rating the answer.  Just post
another Request for Clarification (or even a comment, at the page
bottom) and I'll be sure to see it.


Request for Answer Clarification by intouch-ga on 28 Jun 2005 07:10 PDT
I learned from Broker Hunter that this database can count the same
licensee for more than one state.  When someone enters themselves into
this database, they enter not only the state in which they now live,
but also the states in which they would like to work.  Thus there is
quite a bit of duplication in the count.  The numbers we came up with
from this search tool are not meaningful as a count of the numbers of
people licensed with Series 6 or Series 7.  However, in discussing
this matter with one of the people at Broker Hunter, I learned more
about how to go about estimating the number I seek.

Clarification of Answer by pafalafa-ga on 28 Jun 2005 07:34 PDT
Numbers can be elusive things, eh?

Another way to look at this, perhaps, is this:

Broker Hunter reports that 299,867 out of 440,000 records are series 6
or 7.  This is 68% of all their records.

NASD reports (according to the number you mentioned) that they have
660,547 brokers registered.

Assuming the same proportions hold, then 68% of the NASD brokers are
holding series 6 or 7 licenses.  This would be .68 x 660,547 = 449,171
brokers in the US.

What do you think?


Request for Answer Clarification by intouch-ga on 28 Jun 2005 13:21 PDT
Where do you get this number: 299,867?  Is that the counting tool?  

Is there a way we can communicate without having all of our
communications posted online for all to view?  I can post a one-time
use email address, and then we can use that to exchange valid email

Request for Answer Clarification by intouch-ga on 28 Jun 2005 13:22 PDT
ouch - I just realized where the number came from - your original
answer.  Definitely it is not an accurate figure.

Clarification of Answer by pafalafa-ga on 28 Jun 2005 13:30 PDT
I realize that the 299,867 figure is not the number you are looking
for, since it involves a good deal of double counting.

HOWEVER, if the entire database is similarly rife with
double-counting, THEN the overall percentage figure of 68% would
appear to be a valid one.  In other words, if all categories of
licenses are getting double counted, then the counts themselves are
unreliable, but the ratios between licenses are still trustworthy.

That is why I was comfortable applying the 68% figure to the NASD
statistic.  You'll have to determine for yourself whether that would
work for you needs.

Does that make sense?


Request for Answer Clarification by intouch-ga on 28 Jun 2005 13:31 PDT
Send to  I'll only leave this email address up for a day or so.
intouch-ga rated this answer:5 out of 5 stars
The researcher took the time to make sure the original query was
thoroughly understood, and then found the answer very quickly.  Very
good result.  Very useful service.  I will definitely use Google
Answers again.

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