The frequency of advice helps determine adviser status: advice rendered occasionally, rarely, and in a non-periodic fashion makes classification as an investment adviser less likely.
Source quote, verbatim
Finally, the frequency of rendering investment advice helps define whether a person is an investment adviser. Providing investment advice occasionally or rarely and in a non-periodic fashion makes it less likely for a person to be considered an investment adviser.
Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268
Holds when
determining whether a person is in the business of rendering investment advice
Classification
conditionsupport: arguedprivate-funds
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