Anonymous asked in Business & FinanceInvesting · 3 weeks ago

Do I need a license to be a mentor/trading coach?

I would like to pursue a small business that teaches veterans, and local people how to trade the stock market. Strictly educational purposes, mentoring, and offer coaching on what others could have done different in their trade.

Will I have into any legal mess?

4 Answers

  • 3 weeks ago
    Favorite Answer

    Based on the wording of your question, you're clueless and walking into an area you know very little or nothing about.   What markets (listed, OTC. private placements)  ?? What products (Stocks, bonds, funds, ETF's, options)??   How much mentoring ??  Type of trading ??

    Nearly all municipalities require some type of permits and/or licensing.  BUT once you recommend, suggest, direct, trades or specific markets and/or products you are required to have license (s) issued by regulatory agencies.

    Review of your business plan would be guide to determine what is actually needed.  Prepare a sound detailed plan and present it to the regulators for their review.

    Source(s): from The Street
  • 3 weeks ago

    Yeah bad idea.  Without a license and legal agreements you could be held liable for any losses they might suffer. 

  • Anonymous
    3 weeks ago

    You don't know what you are doing and nobody is going to pay you.


  • 3 weeks ago

    1)  The requirement to have a business license is a local issue.  Some cities and states are much more aggressive about making sure every business has a license and some are not.  In my experience, cities in Alabama, South Carolina and West Virginia are the most aggressive.

    There was an article somewhere in the last year about a city in Alabama (I think) going after kids with lemonade stands.

    2)  You can protect yourself by having a decent insurance policy.  Talk to your agent.

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