Hi I know this has probably been discussed but I have had so many things in my head that I am confused.. Can I manage family money without a series 65? If I want to manage other people's money, I know I need an ADV form. Does anyone know the easiest way to do this? Do I need to hire a compliance firm? Or can I bypass this? Total assets would be under $25 mill. Thanks alot for help
First all the disclaimers: I'm not a lawyer or accountant and this isn't advice etc... Always seek a professional opinion, etc... I would suggest considering having them open the account and just give you the userid/password. The taxes are all their own and if things go south and they change their mind all they have to do is change the password.
the best way to do it is with an ib friends and family account. that way you can set up a reasonable fee ahead of time and automatically get paid every month and there are no regulations or paperwork to worry about.