Seriously man come on? You cant be serious? I just typed in ICC capital management and the first line says "this is a registered investment advisor or RIA"

Basically they collect a fee of a certain percent of assets they manage so no they are not a hedge fund. That fee is usually 1 % of total assets.

Hedge Funds are private pools of capital not regulated by FINRA/SEC etc and can invest in just about anything. They normally charge a 2% management fee and 20% of profits.

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RIAs can manage hedge funds, the firm I work for is registered with the SEC.

Additionally, many asset managers provide a range of products, not all of which are available to the typical investors. For example TCW and Blackrock are best known for their mutual fund products and asset management services but also manage hedge funds, mezzanine funds, and PE funds that aren't open to all investors.

Using fees is a common way of distinguishing between mutual funds and hedge funds, but other elements such as their investor base (hedge funds and other "alternative strategies" require investors to meet certain income or net worth hurdles) and strategies employed (use of leverage and short-selling as well as the purchase of certain asset classes are restricted in retail asset management) are relevant as well.

In summary, ICC could be a hedge fund even though they are an RIA, and they could also be an asset management firm that offers both hedge funds and non-hedge fund investment vehicles.

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