I've registered with FundSeeder and it is now tracking my account. I have few questions. 1. I can only see net liquidation value tracked. In most of the cases this value is misleading and also it can be easily be tricked. Deposits and withdrawals will affect the net value. Is there a way to make fundseeder to track the trades instead and calculate the effective return rate based on the trades and not just the net value? If fundseeder does not provide that ability is there another service that does that? 2. I dont see past records pulled from IB to FundSeeder. Is there a way to report historical records there? I've tried to find some answers on their web site but couldn't find info. Also there is no contact information. There is only a online comments form. I used it but nobody responded back to me. This does not seem very useful. If there is another service available to collect track record please recommend one. Thanks, Ruben
As I'm collecting trade record I've been approached by colleagues. They are willing to use my system for trading. I'm willing to run the system free of charge for now. Though, I'm bit worried about legal consequences in case something goes wrong. There are many things that may and will go wrong. There will be market correction and during some periods the return will go negative. Even though the system is heavily tested and there are numerous safeguards, there may be some software bugs that will cause unwanted behavior. What would be the best way to get some legal protection. From what I understood is that an adviser has to have $100m or more under management in order to register with SEC or RIA. Are there any requirements if the capital is around $1m? Thanks.
Actually no. I don't want to open a hedge fund. Instead I want to do investment advisory. Not going to make money on this for now. Instead will just accumulate track record.
to put it very simply: if you are taking money for financial advice, you are an investment adviser and required to register as such. Becoming a registered investment adviser is neither super hard, nor super expensive: you will need a Series 65 license, and probably ask a specialized attorney to help with the paperwork. But cost doesn't stop there... you probably also want E&O insurance. The insurance industry is very conservative, and they will either put additional constraints on what you can do, or charge you a fortune. To avoid falling under the regulations of financial advisers you would most importantly stop charging for these services.