Starting a business managing money.

S

Steven676

Hello,

I'm a stock trader with a good track record over 6 years and I've got people who want me to manage their money. I'm looking at setting up a "friends and family group" account at Interactive Brokers.

I have a few questions

1. I'll be collecting fees based on a separate contract with clients. I want a business to collect my fees with and to lower my personal liability. Should it be an S corp, LLC, or LLC taxed as an S corp?

2. Does anyone know where I can find online contracts I could use as a model, so I don't have to pay the expense for a lawyer? It should include risk factors, etc.

Thanks so much if you reply!
 
Ya you possibly and probably need some type of licensing to do that. Not sure which one, but as other poster said possibly series 65.
 
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