Over the years I’ve built up a reasonable track record and now a few friends and family want me to actively manage a significant sum of cash. It would obviously be easier to manage, at several levels, as one consolidated structure rather than managing each individual account (virtually impossible to do). With this, and AIF regulations in mind, what’s the best structure to setup for an investment fund like this? If we enter a LLP, would that still subject me to either Portfolio manager or AIF regulations? How are proprietary capital operations setup? I’d really appreciate an answer on this.