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“Successful groups have been started among church
choirs, people living in the same apartment building, bowling
leagues, softball teams, bridge clubs, or groups of co-workers.”
- Lorayne Fiorillo, author of
Financial Fitness in 45 Days
If you’re interested in starting up investment club,
consider the following guidelines:
- Start by contacting the National
Association of Investors Corporation (NAIC) for guidelines
on how to start and run your own investment club.
- Host a recruiting party for friends and colleagues to
acquaint them with your plans and goals.
- Choose anywhere from 10 to 40 members--most clubs average
16 members.
- Establish how your club will operate--most commonly as
a partnership (the NAIC guidelines can help walk you through
this step).
- Elect officers and assign responsibilities to individuals
or committees to ensure that every member has an official
role within the club.
-
Establish a meeting schedule, place(s), and time--most
clubs meet once or twice a month.
- Determine how much time each member should spend on research
or other advance preparations for meetings.
- Establish the initial investment amount and/or monthly
contribution--usually from $25 to $50 per month per member.
- Select a brokerage firm that will handle your trades and
decide whether or not you want a broker dedicated to lending
advice to the club.
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How do I start an investment club?, How do the members of an investment club make decisions for the club?
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