Brad Reifler, Founder and Chief Executive Officer of Forefront Capital is enthusiastic about the Securities Exchange Commission modifying the definition of accredited investors. He has concerns for non-accredited investors inability to invest in securities and turn their savings into profits as accredited investors. Under SEC rules and regulations, accredited investors are provided protection, whereas, non-accredited investors receive no protection. Mr. Reifler learned this first hand after providing services to net worth individuals who earned $200,000 or more, for many years. He realized that nearly half of the working middle class Americans are able to save $6,000 annually.
The goal of Brad Reifler and Forefront Capital is to offer investment opportunities to the 99 percent of Americans whose net income is less than $200,000. They seek ways to help those individuals increase their savings, whether $2,500 or $50,000. Fore Front is now focused on non-accredited investors and wants the definition of accredited investors to be modified. Reifler’s Marketwired Announcement in December 2014, according to Yahoo! Finance, stated Fore Front is offering investment opportunities to non-accredited investors with savings of $2,500 and above. He formed the Forefront Income Trust for them with minimum risks.
SEC Investor Advisory Committee recommended the SEC update the definition of accredited investors; and remove the current income and net worth tests and replace them with sophisticated finance measurements. Since the recommendation request in October 2014, a Report on the Review of the Definition of Accredited Invest was released by the SEC Investor Advisory Committee on December 18, 2015. The committee suggested the Commission revise the definition to identify individuals who qualify as accredited investors. The recommendations were to consider criteria, including minimum amount of investments; professional credentials; investment experience; employees of private funds expertise; and pass an accredited investor examination.
Brad Reifler is the founder of Forefront Capital Markets, Fore Front Management Group, Forefront Advisory, and Forefront Capital Management. He founded Reifler Trading Corporation in 1982, as per Wikipedia, and sold the business eight years later. His goal to meet the demands of non-accredited investors motivated him to start a trust that caters to individuals with savings of $2,500 or more. See Brad talk about his company, and his plans on Twitter @BradleyR.