ive been trading my own money for a few years now and have done reasonably well. i can say ive done as well as most hedge funds, or better, but im not able to double my money every year. even still, an acquaintance of mine offered to have me invest their money, an 8 figure amount, and i need some advice on incorporating this and setting up all the back office necessities. if you have done this and would like to offer advice id be grateful. thanks
8 figures? More power to you! In any event, if you're simply handling 1 client why do you need to set up anything other than the right type of brokerage account for this person? Just make sure that this person signs whatever documents are required by the brokerage firm for you to have authority to manage the account and have a written agreement between you and this person outlining exactly what you're going to be doing, your fee, limiting your liability to the extent you can, etc.
Nice crap; I don't believe a word u are saying and I think u are lowlife underachieving poser looking to get the attention u didn't get during your short, pathetic, dominated by failures, worthless and pathetic life.
titanboxer, You can either setup a company trading account have him deposit the money in your company trading account and trade away or you can do that advisor thing with IB heheh with XX million dollars less headaches but he will be hawking over your progress day in and day out probably stop the fund once he sees you lost 1%
Trading 5 or 6 figures and then trading 8 figures are two different things (even if I were to believe you because it is hard to believe a 8 figure account would want to turn it over to an individual who only has done reasonably well). People like that usually want to turn over a small piece at first and see how you are doing. In that case just manage the account in that person's brokerage account. Nice and informal. Just put it in writing..
hey thanks for the advise so far, basically thats what i needed to hear to confirm my thoughts thus far. i knew id have at least a few doubters out there, lol..........but good trading to everyone