Can I have a limited partnership who's only business is trading stocks?

Question

I have other people who trust me to trade with their money. will a limited partnership work. I know a limited partnership passes the profit/loss to the partners but does it have to. and within what time frame or can it do so when the partnership dissolves.

Answer 1

You wouldn't necessarily have to form a partnership to trade stocks for a business.  You could do it as your sole business and not use a partnership.  Most people would do a Limited Liability Corporation but even that is not a must.

The profits go wherever the partners want .  And that can be changed.   The whole idea is to protect yourself if you get sued because you are dealing with large chunks of money.  If you were confident ,  you could just open your business and start trading.