Do securities laws apply to a person who provides advice to an investment club?

Do Securities Laws Apply To A Person Who Provides Advice To An Investment Club?
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If the adviser is compensated for providing the advice regarding the club's investments, the adviser may need to register according to the Investment Advisers Act of 1940. Also, if one person selects investments for the club, that person may have to register as an investment adviser. In general, a person who has $25 million or more in assets under management is required to register with the SEC under the Investment Advisers Act of 1940. A person managing less than $25 million may be required to register under the securities laws of the state or states in which the adviser transacts business. Both the Investment Advisers Act of 1940 and many state laws do not require registration for advisers with a small number of clients.	Wealth Generating Books From Credit Despair to Credit Millionaire Don't let credit hold you back any longer. Take what you need to get what you want. A book on how to build real wealth. Carl Hampton, Nationally Syndicated Financial Columnist The 16% Solution How to Get High interest Rates in a Low Interest World with Tax Lien Certificates. Joel S. Moskowitz, J.D. Make Money in Real Estate Tax Liens How to Guarantee Your Returns Up to 50% Chantal Howell Carey & Bill Carey Rich Dad Poor Dad What the Rich Teach Their kids about Money - That the Poor and Middle Class Do Not Robert T. Kiyosaki, with Sharon L. Lechter, CPA Exchanging Up How to Build a Real Estate Empire Without Paying Taxes… Using 1031 Exchanges Gary Gorman, Exchange Expert