I'm not doing any marketing. My clients are appearing from friends and family. I start out coaching them and they end up handing over their account and say "you trade it", then they come to the conclusion to pay me 10% of profits.
How difficult is the RIA, can't be that bad considering some of the results i've come across. So far none of my 3 clients reside in Florida.
It's not "easy," but it's getting "easier." Interactive Brokers has a pretty good platform for small RIAs. I would read every single link on this page (several times) to understand what's involved. https://www.interactivebrokers.com/adv/en/main.php [No affiliation with IB]
Does this men you can have upto 15 clients in Florida, 5 in NY, 2 in TX etc. etc. and still NOT be required to register as an RIA in any state. This ofcourse assuming you stay under the radar of "minimum" allowed clients in other states. I am just assuming that 5 is min. NY and 2 in TX etc. for the sake of an example. If AUM is more than $25M then one has to ofcourse register with SEC.
I don't know about Florida, however, in California, it varies depending upon if the investors are nonacredited, accredited or qualified investors.
"Generally only larger advisers that have $25 million or more of assets under management or that provide advice to investment company clients are permitted to register with the Commission. " That sounds to me like you have the option to register with the SEC vs your state rather than a requirement. I can't claim to be an expert on this.