Message Font: Serif | Sans-Serif
No. of Recommendations: 0
A person or organization employed by an individual or mutual fund to manage assets or provide investment advice. also called advisor or financial advisor or investment advisor or investment counsel. sometimes spelled adviser.

so I am covered for I get no pay.
I don't know where you found that definition, but if it isn't from a state's official website, it isn't worth the electrons that generated the image on your screen.


As to the requirement to register as an investment advisor (RIA) with the SEC, you appear to be exempt under the Family Office exemption. And yes, you probably are a family office whether you knew if or not. That's good actually. As long as you dont' hold yourself out to the public as an investment professional, and only work on behalf of family members, it appears you're exempt from registration. This exemption was repealed by the Dodd-Frank act, but then restored more recently.

This bulletin article covers it fairly well.

Ira is right, you should check with your state's securities commissioner's office (or whatever they call it.) Though I suspect there's probably a family exemption there, too, or one based on a minimal number of clients.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.