IB Advisor Friends & Family account

What happens if you open a F&F account with two trading accounts below. One is an individual. The other is a professional (i.e., LLC). Assuming that you are not a professional (i.e., RIA or broker) will you still be able to access the non-professional quotes (and shut off the quotes for the professional account)?
 
Quote from freehouse:

What happens if you open a F&F account with two trading accounts below. One is an individual. The other is a professional (i.e., LLC). Assuming that you are not a professional (i.e., RIA or broker) will you still be able to access the non-professional quotes (and shut off the quotes for the professional account)?
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Market date pro/non-pro fees are dependent on the status of the Advisor - not the seperately managed accounts traded by the advisor.
 
After reading lots of threads, I find this one really useful.

I still have few questions about FF account, can someone help me?

1. the minimum commission fee is applied for every sub-account or only for advisor account? say 3 sub-accounts , the minimum commission fee is $10 totally or $30($10 for each account)

2. How to deposit funds? clients fund their own accounts with their own account numbers ? can the clients sent money to the advisor who then transfer into sub-account?

Thanks in advance!

Mark
 
Quote from Mark121:

After reading lots of threads, I find this one really useful.

I still have few questions about FF account, can someone help me?

1. the minimum commission fee is applied for every sub-account or only for advisor account? say 3 sub-accounts , the minimum commission fee is $10 totally or $30($10 for each account)
More...

Only one account has access to the quotes, so there's only one $10 fee charged against the master account if the commission minimum isn't met. To be honest I've always had at least $30 is every account so I can't be 100% sure if you need to meet it in every account, but I'm fairly certain you don't.

Quote from Mark121:

2. How to deposit funds? clients fund their own accounts with their own account numbers ? can the clients sent money to the advisor who then transfer into sub-account?
More...
AS far as I know the accounts are funded separately by the account owners. You can move money from the master account to your own account and vice versa but I don't think you can move it to the other sub-accounts.


SSB
 
You can also call IB and ask to be connected to professional services (they deal with F&F accounts and also professional advisor accounts). There's a special direct number for them but I don't have it handy....but the main number should connect you to them and give you their number. Also you can try proserve@interactivebrokers.com but I don't know how well they respond to emails anymore.
 
Each sub account is subject to the $10.00 minimum. The sub account commissions are pooled together to meet the $30.00 threshold for free market data for non professionals.

Each client has his/her own user name and password. They have access to Account Management but not the TWS. The advisor can transfer cash from the master to the sub account. The advisor cannot transfer cash from sub accounts into the master account outside of automated billing options described at the link below.

http://www.interactivebrokers.com/en/accounts/advisors/advisorWrapFees.php\

The advisor account can initiate a withdrawal if the sub account has entered instructions through Account Management. The advisor can only initiate withdrawals to that destination.
 
I'm considering managing an IRA for a family member and don't have much familiarity with the rules there.

Three quick questions:

Can you manage a family member IRA through the FFA system?

Is 2:1 equity margin available for IRA accounts?

Also, can you trade options on the long side in addition to stocks?

thanks for the info
 
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