accredited
 

We’re excited to announce that financial professionals can now use their FINRA administered licenses to qualify as accredited investors on SeedInvest.

Previously, the definition of an accredited investor was generally limited to individuals who had one of the following:

1. A net worth of at least $1 million (excluding the value of their primary residence), or
2. An earned income for the past two years of at least $200,000 (or $300,000 with their spouse, or equivalent).

Now, the SEC offers a third way to qualify:

3. “Certain professional certifications, designations or credentials or other credentials issued by an accredited educational institution, which the SEC may designate from time to time by order,” including holders in good standing of the FINRA administered licenses: Series 7, Series 65, and Series 82.

Do these changes make you an accredited investor? If the answer is “yes”, make sure to change your status in your SeedInvest profile. Here’s how:

First click on the icon with your initials or photo in the upper right-hand corner of SeedInvest.com.

  • From there, a menu will drop down. Click on “User Settings”.
  • In the “User Settings” section, navigate to “User Identity”.

Qualify as accredited on SeedInvest

  • Under “Investor Status”, select, “Yes” for “Are You An Accredited Investor”.
  • Then additional options will appear, letting you indicate the way or ways by which you qualify. If you want us to verify your accreditation status via your FINRA administered Series 7, Series 65, or Series 82 license, select the last option.

Investor Status is FINRA License Holder

If you’re new to SeedInvest, create an account here.

  • Then, as part of the signup process, indicate that you are accredited by clicking the check box as shown below.

Sign Up Accreditation Status

  • Once you check this box, additional options will appear, letting you indicate the way or ways by which you qualify. If you want us to verify your accreditation status via your FINRA administered Series 7, Series 65, or Series 82 license, select the last option.

Sign up FINRA accreditation option

Then hit “Join SeedInvest”. Once you begin investing, we may ask you to upload documentation proving that your eligible FINRA license is in good standing.

Now what?

As an accredited investor, you will have the opportunity to invest in additional deals only made available to accredited investors. Make sure to sign up for our newsletter and check back on the offerings page to see the latest deals in which you’re eligible to invest.

Happy investing!

 

This post was written by Tai Nicolopoulos on December 18, 2020

A New Way to Qualify as an Accredited Investor


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