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Asset Management questions

  • #1
  • First Post: May 17, 2013 6:42pm May 17, 2013 6:42pm
Hi all,

I've been approached by an individual looking for me to manage a sizable amount of money. What due diligence questions would you ask him?

Also, what type of agreement do I need to enter into to make it legal?

Thanks
  • #2
  • May 20, 2013 4:47am May 20, 2013 4:47am
Quoting Dighi
Hi all, I've been approached by an individual looking for me to manage a sizable amount of money. What due diligence questions would you ask him? Also, what type of agreement do I need to enter into to make it legal? Thanks
Maybe it's not so wise to ask such a thing on a forum. You need a professional, who knows what to do...

Just ask one of the big 4 companies, they probably know how to set such a thing up. Obviously you need to pay them, and their services are not cheap at all.
  • #3
  • Edited 12:34am May 21, 2013 12:08am | Edited 12:34am
Quoting Dighi
Hi all, I've been approached by an individual looking for me to manage a sizable amount of money. What due diligence questions would you ask him? Also, what type of agreement do I need to enter into to make it legal? Thanks
A good attorney who specializes only in investment advisor/broker-dealer matters will outline everything for you in a no-charge consultation phone call. All you need if you are simply managing an SMA (separately managed account) is an investment advisory agreement to be signed between you and the client. This is not too expensive to have an attorney draw this up. If you are trading forex, you may need to get a Series 3 license by passing an exam. However, I believe there is an exemption if you have just one client. If you want to start a hedge fund, it is more involved, but the fund pays for the startup/documentation costs, not the advisor. Either way, the attorney is where you start. Best of luck with it.
  • #4
  • May 21, 2013 12:32am May 21, 2013 12:32am
i dont advice you to manage money for people i will not manage it even if it is a billion fund size i better live with few dollars per day than making money for some one else he will never make you if he had the chance to do
sorry i know my advice is not the answer you want but as an advice yes it is
all have a nice day
focus while relaxed to see better
  • #5
  • May 21, 2013 5:46pm May 21, 2013 5:46pm
Quoting orabi
i dont advice you to manage money for people i will not manage it even if it is a billion fund size i better live with few dollars per day than making money for some one else he will never make you if he had the chance to do sorry i know my advice is not the answer you want but as an advice yes it is all have a nice day
Your advice certainly is valid, thank you for chipping in!
  • #6
  • May 21, 2013 6:33pm May 21, 2013 6:33pm
Quoting orabi
i dont advice you to manage money for people i will not manage it even if it is a billion fund size i better live with few dollars per day than making money for some one else he will never make you if he had the chance to do sorry i know my advice is not the answer you want but as an advice yes it is all have a nice day
You will obviously charge the person for managing their money. What is wrong with making money off someone else's money?
  • #7
  • Last Post: May 22, 2013 3:14am May 22, 2013 3:14am
Quoting orabi
i dont advice you to manage money for people i will not manage it even if it is a billion fund size i better live with few dollars per day than making money for some one else he will never make you if he had the chance to do sorry i know my advice is not the answer you want but as an advice yes it is all have a nice day
Hmmmm....fund managers make billions in commissions?
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