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Thanks everybody for replying to my post. This has been very helpful. As I understand it now, the amount of profit sharing partners can't exceed 15. Does anybody know about particular regulations in California? Hanniss

Hello Don, how would I go about setting that up (put up $50k of my own money, and get acees to $3m?). Hans

Dear Petsamo, Thanks much! I am not so much concerned about taxes as I am about licensing. I heard as long as the number of investment partners is small, there is no need to be licensed, but that it is dependent on respective state regulations. Anybody have experience? Hans

Hello, I am considering dropping my S7 and S66 licenses and trading exclusively for about a dozen friends and family (about 3m in assets total. I understand that I may need to set up an LLC or establish a simple partnership agreement. I will have a trading power of attorney for the partners...