I’ve gotten several people in my family interested in investing in ETFs, and so far I’ve put them on roboadvisors because they offer a really easy way to start. I’m not 100% happy with any of them (the roboadvisors, my family is OK), however, because of the fees and the fact that they seem to use more complicated baskets than the classic 3-4 ETF portfolios. That got me thinking about IB’s “Friends and
Family Advisors” account.
Is anybody using it? Is there some sort of legal/financial implication to this in Switzerland? I’m not a fan of paperwork or extra taxes, and I certainly wouldn’t want to be classed as a professional investor. I’m not sure if any of this would apply, though, given that the money would remain in other’s accounts and I would only be authorized to execute trades. Would this be an investment club according to the CISO law? Has anybody set this up?