What does it take to start an advisory service?

What does it take to start an advisory service?

I see all these people with chat rooms, newsletters, email alerts, etc. What kind of credential is required to start one of these services ? Are they regulated ?

 

You need a heartbeat, that's about it.

 

Well, you start with faked testimonials, run a few hundred backtests until you find one you like, and call that your "track record." Spend $200 to get up a snazzy website and buy a few templates off EBay, lure in newbie traders with Google advertising, setup PayPal to collect money, and collect subscription fees until traders realize your system doesn't work.

Then, you pull up roots, and setup on another website, and start over again.

At least, that is what I have seen.

 

A heart made of coal is about the only requirement.


But if you really want to pull it off- follow rcanfiel's advice. He made a very astute observation.

 

I thought you have to be a registered advisor/broker to make trade recommendations.

 

if we are talking USA, being a publisher of information, as long as it is not individualized, requires no registration. Check CFTC, NFA, SEC sites...