I have been doing research on becoming a commodity trading advisor (CTA). I have been getting mixed information about who can be charged a performance fee. Some sources say that they must follow the Investment Advisor Act of 1940 and can only charge performance fees to qualified investors. Other sources say that as long as you don't file for a 4.7 exemption, you can take any investor. Which of these is correct if I want to manage future accounts for clients?