Offering Advice & Services to Traders | Investors | Funds
Start a Hedge Fund Running a hedge fund is no longer for the elite. For many the dream of running a fund or family office is realized once they figure out for themselves what steps they need to take to start a fund. The current economic climate offers great opportunity; let us help you help yourself.
Start a Forex Pool or Forex Managed Managed Account Business What is a forex pool? A forex pool is a pool of funds which is managed by an investment manager in return for a fee. The manager solicits funds from investors, combines those funds into a pool and uses the funds in the pool to trade forex or managed futures. In the United States, regulatory oversight for financial and futures industry for U.S. clients or those looking to do business in the United States falls under the jurisdiction of the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Commodity Futures & Trading Commission (CFTC) and/or the National Futures Association (NFA). You do not need a Series 7 or Series 65 to run a forex fund but you will need a Series 3 your forex fund will also trade in futures contracts, commodity options (including options on futures contracts), leverage contracts involving certain precious metals, or futures contacts and commodity options traded on a board of trade, foreign futures and foreign options.
Become a Registered Investment Adviser It is impossible to make a blanket statement pertaining to registration requirements and exemption options except to say that they vary by state and fund structure. In those states where the fund manager must register as an investment adviser, the Series 65 (or its equivalent) is required, unless the state is satisfied with some other credential (e.g., Certified Financial Planner). No sponsor is needed to take the Series 65 exam.
Incubator Hedge Funds The incubator hedge fund is an alternative approach for traders who want to get paid to trade for others. It allows you to test the waters before spending a lot of money to launch a full blown hedge fund. Incubator hedge funds are a low cost solution to the process of standing a launching a hedge fund. Some hedge fund managers incubate their fund by managing their own money for 6-12 months to establish a marketable track record. We are the first law firm to conceive and offer the incubaor hedge fund. We have more experience than anyone else setting up incubator hedge funds. There are many benefits to setting up the incubator hedge fund.
File SEC Form D and other Blue Sky Filings Each state has its own securities laws. The offer and sale of a hedge fund interest under Regulation D in any state triggers registration and reporting requirements in the state for the fund and its promoters. The laws very from state to state. The states can be your worst legal nightmare if you do not comply with the relevant state reporting and registration requirements. Effective September 15, 2008, annual updates to Form D are required for ongoing offerings. Let us help you navigage the regulatory landmines and prepare the filings for you, on time.
Launch an Offshore Hedge Fund Can I set up an offshore fund without ever even visiting the country? Yes. Our firm liaisons with foreign legal counsel. All matters are handled on a turnkey basis and you don't need to stop trading or take a break from the markets. Where is the best place to start an offshore fund? One of the best countries is the British Virgin Islands. The SEC's 134-page Report-Implications of the Growth of Hedge Funds presents the current status of the hedge fund industry. The report summarized several months of work on the Staff's part and includes a summary of the current status of the hedge fund industry (including audits), as well as a number of recommendations related to regulatory structure. The webccontent authored by veteran fund attorney Hannah Terhune, JD, LLM (Taxation), when she was the Chief Attorney (and only attorney) at Greencompany and GreenTraderLaw on offshore hedge funds was cited on page 10 as providing information that the Staff found to be valuable in its understanding of the industry. Almost all of the other 300+ footnotes were to legal cases, results of the SEC-sponsored hedge fund roundtable, and the FINRA/NYSE. You will see from our site that we supply more information about hedge funds than most books on the subject. It's great to see that Hannah's expertise is appreciated by the SEC! This is quite a coup for Hannah, and provides one more piece of evidence as to how she can help you.
Taxes We cater to international investors, traders, money managers, and proprietary traders. We strive to help our clients achieve maximum lawful tax savings. For most, the United States is a tax haven for foreign traders and investors if they approach U.S. shores carefully (e.g., by using a drop off trust or private foundation as a grantor trust) and establish the proper entity to hold assets in. Given the international scope of our firm, we can help you with your taxes. We offer all the tax advice and services you need to run a fund or a trader tax business. The U.S. is a tax haven for foreign investors if they approach the U.S. shores carefully and establish a drop off trust or private foundation. Many foreigners have U.S. brokerage accounts and wonder if they will owe U.S. tax. Find the answer to that question and more by speaking to us. Commodity Pools and Managed Futures A modest level of managed futures trading can result regulatory. The good news is that regulations exempt CPOs operating qualifying pools from registration. If you can't take advantage of an exemption from registration (see below) under regulations issued by the Commodity Futures Trading Commission (CFTC), you must register with the CFTC, join the National Futures Association (NFA) and absent CFTC regulatory relief, comply with detailed disclosure, record keeping and reporting regulations. To become a CPO, you must pass the Series 3 Exam (National Commodity Futures Examination). To become a CTA you must (1) pass the Series 3 Exam (2) join the National Futures Association ("NFA") as a CTA and (3) submit your Disclosure Document to the NFA/CFTC for approval. We offer all the services and support you need to start a commodity pool, an introducing broker, or commodity trading advisory business. Say goodbye to the hassle of NFA registration; we will take care of it for you.
Hedge Fund Accounting Many clients are accustomed to being a one-person business, trading from their home office. They are interested in trading for others to leverage their knowledge and make more money, but they don't want to change how they work. They don't want to have to hire accountants and secretaries, or rent an office or gain tons of paperwork. They don't want to spend their days with attorneys, accountants, consultants and business operation hassles. Our clients work from home, without any of the above-mentioned hassles. Most of our clients use our hedge fund accounting services on a monthly basis; others choose weekly, quarterly, annually or whenever they like. The work product includes NAV, performance records, brokerage statement reconciliation, and advisory fee billing.
Attracting Investors and Raising Money There are significant restrictions when it comes to marketing a hedge fund. The good news is your hedge fund can have a web site. We offer practical ideas on how to find investors and clients without breaking the rules against advertising. Learn how to use due diligence procedures to police your own operations. Incorporate our due diligence checklist into your hedge fund development.
Leading Articles Easy to read articles by Hannah Terhune, hedge fund and international tax attorney, contributes current expertise to many online and magazine repositories. These articles have received wide circulation in the hedge fund and asset management industries. Please contact us about publication or redistribution. "Hannah, Your article on starting an offshore fund gave me some great insight on the subject and connected the dots very quickly for me. Just wanted to say thanks! Bxxxx Lxxxxx January 28, 2009
Customer Testimonial Hannah Terhune and Capital Management Services Group offer a cost effective, comprehensive solution for anyone looking to launch or manage a hedge fund operation. We are a small company operating under a tight budget and we initially decided to use Capital Management Services because they offer great value at an extremely competitive price. Without the customized services and flexible financing solutions Hannah offered, a successful launch of our fund would have been impossible. From day one, Hannah has provided valuable guidance each step of the way along this complicated process. After working with Capital Management Services Group for eight months, it is clear that not only does the group provide services at a great value, but they also have an impressive amount of experience. For every problem we have encountered along the way, Hannah and Capital Management Services Group have been able to provide a quick and affordable solution. To date, Capital Management Services Group has helped us with registration as an investment adviser, compliance issues, drafting offering documents and ongoing administrative services. Capital Management Services Group has consistently provided quality and comprehensive solutions at great price and it is for this reason that we will continue to use their services for all of our ongoing needs. Rene Anziani, Quantsoft Advisers, LLC Sent: Wednesday, June 25, 2008 12:01
Customer Testimonial Hannah Terhune and her team at Capital Management Services Group were instrumental in helping me establish my investment company and limited partnership. I found Hannah and her team to be extremely professional and knowledgeable. Her guidance made it possible for me to navigate through the legal landscape that can be an enormous challenge. Hannah and her team were on top on it and supported me through the entire process. I was incredibly pleased with the level of service and would highly recommend Hannah Terhune and her team at Capital Management Services Group. Vxxx Cxxx Friday, November 07, 2008
CapitalManagementServicesGroup.com is recognized by discriminating fund managers and traders as being the foremost tax and legal authority in the business. Attorney Hannah Terhune's expertise and indispensable advice about hedge tax and law has appeared in over 100 publications worldwide. Chances are, if you've read about it, she's written it. Give us the opportunity to use that knowledge and experience for you. CMSG provides the best services and support needed for hedge fund projects and associated activities in one convenient place, saving you time and energy. No need to coordinate work between different firms; we handle the job, start to finish, right here. Hedge fund and money management accounting, tax services, tax preparation, consulting, entity and retirement plan formation services, you receive the total package. Our professionals provide the highest quality services at competitive rates. But don't take our word for it, give us a call and let us prove what we can do.
Personal Consultations and Fees You get answers to your specific questions by speaking directly to Hannah Terhune, an experienced hedge fund attorney. Her hard won wisdom can save you a lot of unnecessary steps and wasted effort. The consult is a valuable opportunity to speak to Hannah one on one to learn how to achieve more in less time. The return on your investment more than makes up for the cost by helping you to avoid costly mistakes. Fees are a necessary part of the consultation. Many years of study and training go in to be able to make a sound, informed and ethical opinion about plans. The expertise required to recommend solutions and provide advice should not be taken lightly. When you are finished with your consultation you will be more informed about your business plans than ever before. This is not to say that someone else will not give you additional information. Call (307) 213-4732 or Click Here to Request Services.
Our Commitment Henry David Thoreau wrote: Do not hire a man who works for money, but him who does it for love of it." We are committed to your business plans and bringing you the best possible options. We aim to establish an internationally recognized business that both educates our clients as well as the industry. We do this by striving for the best results. Above all, we are a law firm. A lawyer is a philosopher and role model. The privilege to improve our clients' lives is a privilege that we do not take lightly. There is tremendous power in being able to effect a positive change in our clients' lives. Our aim is to welcome our clients and to provide a comfortable, warm environment for all. We feel that allowing clients to feel comfortable creates a field in which lawyer and client can develop a well-based, sincere relationship that improves over time. We thank you for choosing to lend us your time in enjoying this web site.