As a registered investment adviser, you cannot trade in your own
account insofar as you will be accused of front-running your
customers' orders. If you love to trade, you ought to trade for
yourself as you are doing now.
I was referring to the level of skill needed for trading stocks
versus trading commodities: Commodities are a lot harder to
trade.
Posted by DigiNomad on 24th of Apr 2023 at 05:09 pm
Junkie, that's not actually true about not being able to trade
in your own account as an RIA. Go to BrokerCheck, SEC website
or FINRA and pull up a few ADV Parts I & II while you're
in there. There are multiple disclosures required for RIAs that
trade alongside client accounts. I'd give you a link to my ADV
parts I & II....but I think I prefer the anonymity
This reminds me of the issue I have with CFP's selling life
insurance. Until a few years ago, I thought it was against the CFP
boards rules, and improper as a fiduciary to sell commissioned
products. Turns out not so much, although I'm still against it
myself.
Posted by DigiNomad on 24th of Apr 2023 at 05:13 pm
There's no info to pass along. Just look at any RIAs ADV Part I
and you will find a section where they are able to disclose trading
alongside client accounts.
I've had multiple state regulators tell me during the initial
review that they had never seen any advisor do the entire process
without professional support (of course, we wouldn't have had any
conversation if I got it all right the first time through, lol).
This is probably an area that is typically handled by attorneys and
specialists and most advisors haven't even seen an ADV Part I or II
(I know I never saw one when I was at ML).
As a registered investment adviser,
Has anyone read the old Forbes mag. lately? Picked up ...
Posted by junkie on 24th of Apr 2023 at 05:00 pm
As a registered investment adviser, you cannot trade in your own account insofar as you will be accused of front-running your customers' orders. If you love to trade, you ought to trade for yourself as you are doing now.
I was referring to the level of skill needed for trading stocks versus trading commodities: Commodities are a lot harder to trade.
Junkie, that's not actually true
Posted by DigiNomad on 24th of Apr 2023 at 05:09 pm
Junkie, that's not actually true about not being able to trade in your own account as an RIA. Go to BrokerCheck, SEC website or FINRA and pull up a few ADV Parts I & II while you're in there. There are multiple disclosures required for RIAs that trade alongside client accounts. I'd give you a link to my ADV parts I & II....but I think I prefer the anonymity
This reminds me of the issue I have with CFP's selling life insurance. Until a few years ago, I thought it was against the CFP boards rules, and improper as a fiduciary to sell commissioned products. Turns out not so much, although I'm still against it myself.
I will take a look,
Posted by junkie on 24th of Apr 2023 at 05:12 pm
I will take a look, please pass along the info . You have tickled my curiosity :-)
There's no info to pass
Posted by DigiNomad on 24th of Apr 2023 at 05:13 pm
There's no info to pass along. Just look at any RIAs ADV Part I and you will find a section where they are able to disclose trading alongside client accounts.
I've had multiple state regulators tell me during the initial review that they had never seen any advisor do the entire process without professional support (of course, we wouldn't have had any conversation if I got it all right the first time through, lol). This is probably an area that is typically handled by attorneys and specialists and most advisors haven't even seen an ADV Part I or II (I know I never saw one when I was at ML).
They're all hard according to
Posted by icecoldjones on 24th of Apr 2023 at 05:04 pm
They're all hard according to my portfolio LOL