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Old 06-17-2018, 08:47 AM   #1
sk00p
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Join Date: Oct 2013
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Starting a Hedge Fund

Hello all!

I live in US and have been trading my own money with success for a while. Recently my business partner and I decided to apply this to other people's money as well while keeping a percentage of gains. So how do we go from here to there?

We are considering a fiduciary account approach: where the funds in an account belong to the client, but I have access and permission to trade the account. This will probably be done through Interactive Brokers that allow fiduciary accounts.

We are considering consulting a professional to help us navigate all the legal and logistical hurdles. Should we be speaking to an accountant or a lawyer?And which type specifically?

On our end, do we need broker licenses? And which specifically? Series 7, etc.

If US has too many hurdles, can we take this abroad? If so which counties would you recommend?

Thank you.
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Old 06-19-2018, 12:55 PM   #2
BCI23
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Re: Starting a Hedge Fund

http://www.riainabox.com/
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Old 06-19-2018, 01:31 PM   #3
ToothSayer
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Re: Starting a Hedge Fund

lol @ starting a "hedge fund" - really more an advisor trading on behalf of a client - without getting legal/accounting advice.

I'd informally speak to an accountant who does securities work. He'll tell you what you need. You could probably even partner with an accountant to take care of these legalities. It won't matter if you're skirting close to the law while the market goes up, but you can be sure some cuck will get salty when you lose their money, which you will sooner or later.

As for taking it abroad, it depends on your client base imo. If you're serving US clients I'd follow US law, because it usually finds a way of applying to you. That said, there are lots of jurisdictions that aren't as strict and where you can manage people's money without jumping through Series 7 hoops.
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