I am planning to start a RIA business. How should I go about doing this? What are the steps that are involved?
Much will depend on whether you are "state" registered or "federally" registered. This is relatively complex, but in short if believe you won't have $25mm AUM within about 90-180 days of filing paperwork with the regulators, you're looking at state registration. That is, registering in the states in which your clients are located. You will need to form corporate entities, file Form ADV with the regulators and appropriate "brochures" under ADV Part 2, obtain a fidelity bond, set up a custodial relationship and have client reporting software in place. You will, most importantly, need written supervisory procedures narrowly tailored to the specifics of you business, including procedures on personal trading and handling ERISA assets. You may have to file your form ADV in several states, and each state may have different requirements. Finally, depending on how you are marketing and how your RIA is structured, you may need a Series 65 license if you don't have one already.See question
Say if I get my felony conviction for cocaine sales dismissed or expunged via pc 1203.4. How will it affect me to get a job in financial sector because I read somewhere that section 19 of FDIA will conduct extensive fingerprint back ground check a...
If you are looking to be employed in the securities industry, you will have an obligation to disclose this event on your Form U4 whether or not it has been dismissed or expunged.See question
Looking for an advisor to raise capital in real estate. I am a co-owner of a real estate company and we acquire properties with a few private lenders in the Area, but in order to expand, I am looking to increase the capital we raised What will ...
You're going to need an attorney who will work with you in putting together a PPM for your deal, as well as making sure you're in compliance with the registration exemptions for investment advisers and the like. You should also consider how you're going to raise money and if you're paying anyone to do that, as that has implications in the broker-area. And as a matter of practice, most funds that attract institutional money have both an independent administrator and an auditor.See question
I am not looking for advice because this is a complex issue. I am looking for an attorney who has experience in completing the E1/2 visa process for someone looking to establish a financial services firm in the U.S. I am a British citizen and I wa...
You're not only going to need an experienced immigration attorney, but you will need one with extensive commodities expertise to navigate the registration maze created by the NFA and CFTC. What you wish to establish is, if done correctly, not an inexpensive proposition.See question
Financial Advisor (FA) recommends real estate investments with a Real Estate contact/builder (RE). The RE sent contracts, paperwork for buying new built homes in the Texas oil fields. investment money to put towards down payments was withdrawn by ...
Depending on whether the financial advisor was registered with a broker/dealer, you may have causes of action against the FA, supervisors and their broker/dealer. Such clams are generally brought in FINRA arbitration under color of what are called "selling away" violations. I cannot surmise how a broker/dealer would have approved the original r/e project or the FA's subsequent conduct.
For FINRA purposes, there is also something called "eligibility," which essentially means your claims cannot be more than 6 years old. Having precise dates as to injurious or wrongful conduct will be of significant interest to your securities attorney.
In addition to pursuing legal action in court or arbitration as the case may be, you and your counsel should coordinate to file a complaint with the CA securities regulations, as well as a potential Dodd-Frank whistleblower submission to the SEC.
Whatever you do, hire counsel to assist you on these things. There cases are complex, paper intensive and require the eye of a professional.See question
i want to start a real estate company when i take investments from individuals and use the investment money to buy homes to rental the income from the rent will go to investors and me as the homes will be in my companies name and i will manage the...
You can't just provide returns out of thin air without something to which the investors have ownership unless you are structuring the deals through loans or promissory notes. That of course means that you must pay the money back to investors. Whether you intend to do that is unclear from your question.
Further, a real estate investment trust (REIIT) has to with the distribution of profits and returns under the federal tax code.
In any event, your venture requires discussion with skilled securities counsel so that documents may be crafted to meet your objectives, as well as to comply with applicable laws.See question
I am looking to obtain EB-5 visa under Immigrant investor program. I currently have a registered C-corporation entity under my name in USA, I have a non-immigrant F2 Visa status right now.
In general, it is somewhat less burdensome to work with an established Regional Center, but there are direct investment providers out there. You will need not only immigration counsel, but securities counsel to assist in your due diligence efforts on the people running the investments and the project itself.See question
At the age of 61 I was not advised that when I started to draw from my Annuity it would affect the investment/guarantee amount unless I was 65 yrs old. My financial planner states that it is his fault because he was not aware. However he did state...
You should not only consult an attorney to handle your specific case through FINRA arbitration or a demand letter, but also submission of a formal complaint to Georgia securities and insurance regulators, as well as FINRA. There are different interpretations of the law in different states as to how one is "bound" to language of an insurance policy sold by an insurance agent. Your client agreement with your brokerage firm should state what law applies in the event Georgia law does not.See question
There is a company in Uruguay and also Belize that I would use as a base to facilitate a branch office in the USA
Having lived in practiced in Memphis for several years, if you are bringing a South American country's business to the region, the Memphis Regional Chamber of Commerce has dozens of partnerships and programs that will assist in facilitating your company's presence. The economic incentives to have non-US businesses locate operations or a presence in Memphis are quite attractive, but need to be as much given some of the odd tax burdens in Shelby County (inventory tax, wheel tax, etc).
But you should definitely consider forming a properly structured corporation to serve as the basis for operations. It may well be easier to form a corporation in a traditional jurisdiction (Delaware, Wyoming or Nevada) and then register it as a foreign corporation in Tennessee if you will have non-US owners.See question
Just getting started in real estate investment business in PA. I formed and organized my LLC in Indiana Wife got transferred to Pittsburgh. Having start all over again.
You can simply change the address of your Indiana corporation and register it as a foreign corporation in Pennsylvania. You should be cognizant, however, of what the tax effects are.See question