Register as an IRA

1 reply [Last post]
kqtarc86's picture
Offline
Joined: 2014-02-05

Hi All,
 
I am new to this forum but I am looking for some advice. I have been in the finance industry for 6 years, and have been maintaing a personal portfolio for three years. Recently I have been asked by a few of my family members to manages some of their money. Do I need to register as an IRA to do this? If so what is the processes to get an IRA off the ground. I have read a few of the requirements for filing with the SEC and the required licences (63, and 24), but if this is for family am I still required to go through all of these hurdles? I am not planning on leaving my job any time soon so this would be a side gig for the time being with plans to eventually grow the business when I have a longer track record and more experience. Thanks in advance for the advice I really appreciate it.
 
-Kevin

Paranoid Android's picture
Joined: 2013-09-26

Unless you plan on dumping their money into your account, an Individual retirement account would be useless.

As for being a RIA, setting up is alot more than just registering and going...honestly, if you're just doing it for a couple family members...probably not worth it.

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links
Planning Investment Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×