When you say need to get qualifications to be an investment manager, do you mean in order to get a job in the field? I'm having trouble understanding all the requirements for simply buying securities on someone else's behalf. Could Joe open up Joe's Trading Co. (not Trader Joe's Co) and begin trading on other people's behalf with other people's money? I know there would be all kinds of rules and regulations and disclosures as with secondary market investing. But does Joe need to prove his competency via professional designations?
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