Achieving USA accredited investor status?
I am familiar with the tests that involve one's annual income or one's net worth.
While researching the topic, I saw the following in Investopedia.
In 2016, the U.S. Congress modified the definition of an accredited investor to include registered brokers and investment advisors. Also, if a person can demonstrate sufficient education or job experience showing his professional knowledge of securities, he too can qualify to be considered an accredited investor.
I added the bold and italic.
I have found the Investopedia site pretty good in the past. That said, I can not find the same message on the SEC site. I might have missed something on the government site.
I know that in the UK, the regulator there, the FCA, has a path which allows a non-accredited investor (the UK term: restricted retail) to progress to accredited (the UK term: sophisticated). In the USA, other than income or high net worth, how can a person who is not working in the financial sector and is not a sponsor or similar move from non-accredited to accredited? If the Investopedia entry is correct, there is a path based on building competence and or experience. I can see the logic of allowing this transition for people who have somehow demonstrated they know what they are doing.
Any comments or suggestions?