Trading for others

B

Bdeines1

I have been trading on my own for several years now with success. I have others who would like me to trade their 401k and other cash for them. How can I do this legally? I don't have any license such as a series 7. Do I have to get one? What about setting up a contract or corporation? Power of attorney?

Thanks in advance for any suggestions or direction.

Brad
 
A lot depends on what state you live in. If you're receiving some sort of compensation for the trading and are doing it as a business activity you might need to register as an investment adviser. See your state's securities regulator website for more info on what its requirements are. Different states have different exceptions/exemptions from having to register.
 
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