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Filament

Advise on Whether Product Requires Registered Investment Advisor

Summary:

Advise on whether a social entrepreneur needs to become a registered investment advisor to provide new, socially-conscious, investment-related product.

Referred by:

Jurisdiction(s): US (registered DE C-corp)
About the Organization: Filament is social enterprise that is building a free, user-friendly, product that allows people to find investment products (mostly mutual funds and ETFs) that align with the causes that they care about (e.g., racial equity and clean energy) and their financial goals. The product will essentially be taking the things that are important to a user, filtering a giant dataset on those things, and showing the investment products that meet those criteria.
Legal Entity Type: For-profit
SDG(s): Clean Water and Sanitation, Climate Action, Gender Equality, Peace, Justice, and Strong Institutions
Legal Issue(s):

Filament’s founder is seeking a consultation to understand whether he needs to be a registered investment advisor to provide these services. If so, he would also appreciate guidance on what his next steps would need to be.