IB advisor/friends and family account

[palix]

Hi,

I have sole accounts, which I manage, for my wife and children with 3 brokers. US and UK brokers, trading US/CA and UK markets, 10+ accounts in total. I've had my own IB Universal account for six months and its works as advertised. So as IB offer a friends&family/advisor account I'd like to consolidate all of the other brokerage accounts with IB, particularly as it should allow shares from a single trade to be allocated to multiple client accounts. But I'd like to check if anyone else has gone down this route. I'm based in the UK and want to check that I'm not going to break some FSA rule.

Many thanks,

Palix

 

[mindset]

Hi,

I have sole accounts, which I manage, for my wife and children with 3 brokers. US and UK brokers, trading US/CA and UK markets, 10+ accounts in total. I've had my own IB Universal account for six months and its works as advertised. So as IB offer a friends&family/advisor account I'd like to consolidate all of the other brokerage accounts with IB, particularly as it should allow shares from a single trade to be allocated to multiple client accounts. But I'd like to check if anyone else has gone down this route. I'm based in the UK and want to check that I'm not going to break some FSA rule.

Many thanks,

Palix

did you ever get an answer to this question???

 

[TrendsFX]

If the total number of accounts under your management are under 25 and/or the total equity is below some predefined amount by FSA (generally in millions) then NO you ain't breaking rules. We're also using IB for some of our selected clients yeah but not as the way you're doing it for you and your friends. Hmm in your circumstances it seems that you're just doing the right thing.