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I want to educate people about trading US stock markets online, and provide a stock-alert system. I don't want to be classified as a financial adviser, so must fall outside the scope of the Financial Regulator. Any advice on this, and web development?

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I want to educate people about trading US stock markets online, and provide a stock-alert system. I don't want to be classified as a financial adviser, so must fall outside the scope of the Financial Regulator. Any advice on this, and web development?

I think you need to step back recognise that there are two distinct questions that need to be addressed sequentially.

Firstly, establish the proposition and frame it tightly.

While the Financial Regulator criteria may be onerous they may be worth it in the mind of the consumer and being unregulated may impact negatively on the credentials of the proposition.

Engaging a QFA

While the owner is not wishing to be labelled as financial adviser nor an agent for a third party, the endorsement of the proposition by a qualified financial adviser might be worth considering. Would you take investment advice from someone unregulated and unapproved?

Once the proposition has been robustly thrashed out, bearing in mind the aforementioned points regarding brand and trust, on behalf of the IIA. I would be happy to put you in touch with any number of potential developers who can help architect the website and deliver the functionality required.

The alert system will pose some interesting challenges in terms of 'real-time data' and management of client/member profiling for example.

Again, thinking through these questions before engaging a developer will greatly help in scoping the on-line aspect of the project, and therefore estimating a cost.

In the bricks-and-mortar world, agreeing the purpose and functionality of the building precedes its final design, location and construction materials. The same goes for online.

Answered by

Joan Mulvihill

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I want to educate people about trading US stock markets online, and provide a stock-alert system. I don't want to be classified as a financial adviser, so must fall outside the scope of the Financial Regulator. Any advice on this, and web development?

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Engaging a QFA

Answered by

Joan Mulvihill

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Technology

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