During a young professionals's most crucial time to grow their income&savings, their ability to save for a downpayment for a home or retirement is handicapped without access to make small investments in higher yielding investments. Today they are stuck with a 2% savings account that does not beat inflation, costly mutual funds or stock with capped upside. A recent example is Lyft's IPO, where its believed private investors have already reaped the upside, leaving public stock investors to hope the company can overcome its $1bn per year loses and turn a profit while sustaining growth. Further, as a new financial rails are developed in blockchain, those investments are also being limited to only accredited and international investors due to the current definition.
Update the Outdated DefinitionWe believe INVESTMENT ACUMEN and exposure to industry trends are a much better measure to define accredited investors in the US, and therefore make more attractive investments accessible. Therefor we want to push a bill through congress to change this definition, opening up more attractive opportunities individuals can make in the amount they wish to invest.
Mission to ChangeBring a bill to US Congress to augment today's definition to provide a diverse set of metrics:1. Existing: income/net worth test (income test of earning >$200k for 2 yrs or more, or net worth test of >$1 net worth not including primary home); to also include; OR
2. Pass FINRA's Registered Investment Advisor Series 65 or CFA I for individuals, or for those employed by registered broker dealers if they have passed the Series 7, Series 82 (regardless of education); OR
3. Hold a BS/BA/MA in business/finance/MBA degree from an accredited university and at least 1 yrs work experience
We are organizing individuals across the nation to speak up to their congressional representatives. Signup and we will send information on who to contact and suggested messaging. Each voice counts, and together we will be heard.