I am starting a Friends and Family account at IB. I have created a General Partnership for the time being. I will use this GP and the Freinds and Fam account until I reach 10 or so clients then create an LLC and begin the process to become a RIA and get my 65. I will move all the clients to the new account and hopefully transition to a full-time money manager. My Father and I have a strategy that is producing a semi SPY correlated return that is around 25% - 30%. We have a few people asking us to manage their money. So this is my plan. What am I missing??? Is this a good plan?? Is there a terrible pitfall waiting for me?