Managing Family Money

[midlifeguy]

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

 

[ktm]

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.

 

[Free Thinker]

Quote from midlifeguy:

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

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.