A great question I have heard *a lot* There is no process to become an accredited investor. Once you meet the income/assets requirements, you are one. Certain investments in startups/funds/etc may require you to attest or prove (depends) that you meet said requirements.https://twitter.com/kwuchu/status/1166395097363243008 …
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Interesting!

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Be a founder in a startup, raise money at a valuation that puts your equity value above $1m, and bang, you're an accredited investor. Change twitter profile to include "Angel Investor" and you're all set to start dispensing advice ;)
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The letter fits in a tweet, too: “I am $FOO’s accountant. Based on familiarity with their financial situation, I assess their net worth as being greater than $1 million, net of positive home equity. Signed, $BAR”
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Or $10 for 0.001%. Okay, maybe that's a little bit of a stretch.
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That seems... comfortingly sane? At the point you own a business worth $1mm, you're probably sophisticated enough to do your own due diligence.
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"Hello yes, I have someone who will give me $100 for 0.01% of my company" Congrats, you're an accredited investor with value entirely based on bunk math. America's financial system is basically just Swiss cheese.
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What if I own a lemonaide stand, register a separate LLC that I control, fund the LLC with 10k and sell 1% of my lemonaide stand to my LLC for 10k?
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SEC is at least looking to the right direction in modifying existing rules but still bogged down in traditional bureaucratic bias. Such arbitrary use of the term “accredited investor” does a great disservice to all founders.
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Most of the places won't even ask for that. An (assumed) statement "I self-identify as an accredited investor" is enough.
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Yet CFA exam is truly robust just to credential someone for selling long established basic strategies to NOT earn better than average returns.
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