my investment firm asking ?\'s on my occupation
 

A few weeks ago I got with a top investment firm in my area to take some of my money and professionally manage it. Everything was fine but now that I have given them all my signatures, money, etc. All of a sudden I miss a few phone calls from the firm which I figure it was my broker and when I get the call it was a different rep. asking me questions regarding my profession. She wanted to understand more on what my job intails. She asked me if I played poker online, and if so are the companies international. I told her at first I didn't get what she was saying because it was hard to take in how she was saying it and 2 I didn't know if she was going to be using what I responded to my disadvantage.. I told her I play online and live and pay all of my taxes with a CPA and to my knowledge am doing everything within the law and paying all my taxes. I just got off the phone with my broker and it seems the reason they were asking these questions was because of the laws regarding offshore poker sites and if they would take me as a client.

Should I be worried about the phone call? It seemed she was pressing international online poker sites...

Any advice I should tell my broker or the rep. that called me?

Also, would my account at my firm increase my chances of getting audited?

I'm sure some of you guys have professionals managing your money. Has this issue ever been addressed to you?


Any help or actual experience in this area would be helpful.

thanks

Re: my investment firm asking ?\'s on my occupation
 

Are you trying to trade on margin? Investment money is investment money, if they keep prying, I would tell them to pound sand and move on, plenty of places would be happy to manage your money.

Re: my investment firm asking ?\'s on my occupation
 

[ QUOTE ]
Are you trying to trade on margin? Investment money is investment money, if they keep prying, I would tell them to pound sand and move on, plenty of places would be happy to manage your money.

[/ QUOTE ]

Thank the Patriot Act.

All finacial institutions are required to better know their customers, to a degree that today I often joke about not being required to show three forms of ID to spend cash.

Read up on the laws their are limits to how much they can ask once you prove your source of funds is legal and has been fully taxed!

There are too many holes in the UIGEA and state laws for them to "discriminate" against you because you "gamble" for a living.

If you are uncomfortable with thier questions, and your assertions of legality and up to dateness of your tax status, I have quite a few former co-workers I can recomend to you in the field that will not only treat you right but have a much better ability to develop the relationship nessecary for this "partnership" of investor and investment proffesional to be sucessful.

D$D<--I would in no way profit from any such referal(s).