The publisher line — why we will not size your book

Impersonal, bona fide, generally circulated. Three tests decide whether a thing is a publication or an adviser, and the feature this product refuses is refused because of exactly one of them.

What you will be able to do

After this lesson you can state the three tests that separate a financial publication from an investment adviser, apply them to a described product and say which test breaks, and explain why a shared impersonal model book is a structural decision rather than a limitation of this classroom.

Inside this lesson

Three tests, in classroom English
Break it yourself
The feature we will not ship
Where the line is genuinely unsettled

This lesson is on Scholar

Audit includes orientation and the two-rooms lesson. The rest of the path is paid course access — still education, still not advice.

Included on Scholar · $79/month tuition.