Entrepreneurship & Small Business

Do you need to be licensed to give investment advice?

  • Last Updated:
  • Oct 13th, 2019 9:59 pm
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Sr. Member
User avatar
Dec 21, 2015
725 posts
350 upvotes
Canada

Do you need to be licensed to give investment advice?

Curious about couple of things.

1.Say a person who lives in Canada wants to set up a membership site where tips are given in terms of investment opportunities, say, buy stock xyz at 1 and wait and sell it at 2, does this person have to be licensed?


2.I feel like this might require some license;
Do you need a license to invest other people's money? For instance, a guy says he can guarantee 3% yield/yr for deposits more than 10k , does this person require some sort of certificatation?

(not asking whether anybody would be interested, just legality)

Thanks.
3 replies
Sr. Member
Aug 21, 2019
830 posts
609 upvotes
BC
Probably not.. Although I know that if you want to work for a bank as financial advisor (sell people mutual funds) you need the csic cert. Canadian securities something... Its a pretty easy course tbh. But as far as setting up a website and selling your investment opinion I'd doubt it. There's guys on YouTube who do that all the time and have paid subscription to their blog. I wouldnt pay anyone to manage your money though... For the average investor if you don't know how to read companies just buy a passive index etf like SPY.

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