Do you need license hedge fund manager

This is a question that comes up quite often. Many people wonder whether they need a series 7 license or the series 65 license or the series 3 to manage a hedge fund. First, a potential hedge fund manager does not need to have a series 7 license in order to manager a hedge fund. The series 7 license is the general securities representative licese which allows an individual to be a representative broker of a FINRA registered member firm brokerage firm or broker-dealer.

The series 7 allows a representative to take and place trades for a customer. Because the hedge fund in not regulated as a broker, a hedge fund manager does not need to have a series 7 license assuming that the manager is also concurrently acting as a broker-dealer representative. Second, a start up hedge fund manager may need to have a series 65 license in order to become registered as an investment adviser.

There are two potential ways a hedge fund manager would be required to register as an investment adviser — under the federal rules the Investment Advisers Act of or under the various state rules commonly referred to as the state blue sky laws.

Pleas advise. Depends on the state. I am starting a HF and for the clients peace of mind I have decided to get my series 65 right away. Some states do not require this, but others do. Sometimes a related entity to a hedge fund will be licensed as a BD and can thus hold the series 7 or potentially the new series 79 license ; however, this is more uncommon than not.

You should talk with an attorney immediately if the management company is not licensed as an IA in CA and you have investors. Note: all comments are provided as general information and does not constitute legal advice. Please see our disclaimer.

I am in the process of starting my LLC. The nature of the LLC. The pool of money will consist of many individuals , however they will have no ownership of the actual company or any input as far as what the money would be invested in.

Will the LLC be efficient enough , or do I have to go through the sec. I live in the state of Massachusetts. The LLC is you, the general partner. Can you tell me where I can find live instruction courses on the west coast?

I would Prefer S. Worth would be better than traveling to NY or DC. You do not have to be registered with a broker or an investment adviser to take the Series In order to sign up to take the exam, you can submit an Form U online.

The most traditional route to entering the fund management profession is through investment banking or joining a firm as an analyst or trader. In order to successfully join a hedge fund firm or investment bank, candidates must provide sterling academic and professional credentials.

The interest in these positions is so high even among these limited pools of candidates that they almost never accept applications from outside these select environments. Many of them have graduated at the top of their classes in finance, mathematics or economics.

It is less important what field you graduate from than it is to demonstrate that you are willing and capable of achieving success in a highly challenging discipline. These professionals often returned to school after having achieved success in their professional careers. Once again, it is critical to gain entry to a world leading business school in order to gain consideration from the more successful firms. An alternate route is to become an independently successful investor.