I have been in the market for 8 years and have had a few people tell me I should start a company and they would give me some money to manage for them and i could take a percent of the profits. I did some research on the topic and it looks pretty complex.
My plan was to open one account, pool all the money together, each deposite had to be in $2,000 blocks to keep things simple. Then whatever % gain the portfolio had would be what the individual would have in return. If my portfoio went up $10,000 (10%) someone that had 2,000 they would now have $200 and someone who deposited $10,000, they would have another $1,000. Would this be possible? Im currently studying for the 65 licence so i could charge for the service but do i need the series 7 or 66? Im looking to start a LLC to protect myself as well.
Thank for the help,