Can Friends & Family Advisors charge advisor fee through IB automatic billing?

Discussion in 'Professional Trading' started by dabao91, Nov 15, 2007.

  1. dabao91


    I asked IB this question:

    Can Friends & Family Advisors charge advisor fee through Interactive Brokers automatic billing?

    I got the following answer:

    "Yes. The Friends and Family Advisor account structure will allow you to charge fees to client accounts, however it is dependent on state regulation. You will need to contact your state's regulatory body and they will be able to inform you if an unregistered advisor can charge fess, and if so, for how many accounts. If your state does not allow you to charge fees, then IB will not be allowed to deduct advisor fees from the client accounts. To find the rules for your state, please refer to the following web page:

    Does any Friends and Family Advisor with Interactive Brokers charge any fee using Interactive Brokers automatic billing system? If you do, would you mind share your experience? Thanks.