Quote:
Originally Posted by Slava
Yeah but the CSC alone lets you trade stocks for people, but not on a discretionary basis. If you want to actually manage other peoples money on their behalf you have to be licensed for that.
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Sorry if I'm bugging for information. It's just really hard to get this info from these websites. Maybe I'm just dense. What's the difference between trading stocks for people and managing money for people? I know the theory of both but not the regulations and requirements for them.
I've also noticed the difference in regulation over the years. My first broker in the 90's was all over the place, private placements, risky stocks, loans, mortgages, debentures. My last experience a few years ago was much different...pick portfolio 1, 2 or 3 based on your risk tolerance. People I know with advisors who do pick stocks are very cautious to do so and would much rather add to a prescribed portfolio. I don't know if this is typical or if it's just my experience.
Thanks very much for the info.