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My biggest gripe with it is that it's gatekeeping based on net worth. There should be a mechanism to become an accredited investor with any income/wealth level
by SturgeonsLaw 3y ago
My biggest gripe with it is that it's gatekeeping based on net worth. There should be a mechanism to become an accredited investor with any income/wealth level if you pass a financial knowledge exam.
Yeah, those can be gamed, but if someone is willing to cheat on a test in order to remove their legal protections and access risky investments, well, good luck to them.
- greyface- 3y agoThis exists. https://www.finra.org/registration-exams-ce/qualification-exams/series7 https://www.finra.org/registration-exams-ce/qualification-ex... https://www.finra.org/registration-exams-ce/qualification-exams/series65 https://www.finra.org/registration-exams-ce/qualification-ex... https://www.finra.org/registration-exams-ce/qualification-exams/series82 https://www.finra.org/registration-exams-ce/qualification-ex... Pass any one of these, and you're an accredited investor.