Here's another freebie for ya. Paul Merriman is not registered with the SEC. Hasn't been since 2011. Contrary to his website, he has been registered only since 1991. In 1983 he started as an employee of Merriman inc., whatever that is... (no sec registration), and still employed there.

Registration is important, because it means you are accountable to the SEC and FINRA for following their rules and the law.

Think of it in aviation terms...no, operating certificate.

Pilots and Doctors......