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Strategies & Market Trends : DAYTRADING Fundamentals
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To: BenThair who wrote (4099)9/16/1999 9:10:00 PM
From: Matthew L. Jones  Read Replies (1) of 18137
 
I've never heard such a thing, but if it's true, I would get signed up prior to then to keep my options open. I doubt that they are going to grandfather the reg in if it is true. I can't imagine it being true.

There are many private money managers who cannot get a series 7 due to their inability to charge a performance based fee with a series 7 license (like me). If I wish to charge a performance based fee, I cannot be a "registered investment advisor", or a "series 7" licensed broker. Either would disqualify me from being able to charge a performance based fee (e.g., 25% of capital gains). I think that is a rumor folks like E*whatever or Ameri-somebody might be inclined to circulate to prevent customers from jumping ship.

Just a guess.

Matt
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