Q: Starting an equities investment club in California. Will create a CA LLC and an online brokerage account for trading.
We are going to pool our money into a single brokerage account. The account will be managed by one person who does not have a securities license. Is this ok?
Also, the members of the club would like to compensate the person who will be managing the account, keeping the records, etc. Is there a way to do this legally?
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