I'm a part-time currency trader, I've been trading for roughly 8 years and have been turning a modest profit for a few years now. I have had interest from a few friends and family about trading some of their funds. I realise this is a tricky thing to do legally, but, I thought it may be possible to do this without requiring a ASFL via a trust structure with a corporate trustee of which all beneficiaries are directors and shareholders of the company.
Of course I'd like to charge a fee for my work, and I was thinking this could be done through using the discretionary trust. Does anyone here know if such a thing would be possible? It would only be for about 5 people at most and I would not be advertising my services to anyone else.
Perhaps someone here has experience with this sort of thing or maybe an accountant or lawyer can help. If it's not possible to do legally I won't do it at all.