The core requirement under the Investment Advisers Act of 1940 is that it's "being in the business of giving investment advice for compensation" that triggers the need to register. In this week’s #OfficeHours with my Tuesday 1PM EST broadcast via Periscope, we discuss the exact rules that determine when you have to get a license to become a financial advisor - or technically, to register as an investment adviser by creating an RIA and becoming an IAR (investment adviser representative) of that business. Does any financial advice trigger a requirement to register? What kind of license do you need to become a financial advisor? And can you wait until you get clients, before you go through the process? With more and more people looking to become a financial advisor – given both the rewarding nature of helping people and the income potential it brings – questions about when you actually have to register as a financial advisor are becoming more common.
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