Getting an Investment Club Started - Tips For the Second Meeting
After your first meeting has been a success youll want to make sure that certain things have been completed for the second meeting.
These tasks include:
Registering your investment clubs business entity with the state. This includes the name of your investment club. When the paperwork returns, the newly elected Secretary of your investment club should make sure that the paperwork is filed and that members of the club have access to the information.
Tax ID Number. This is the time to file the information that is required to obtain a Tax ID Number. The newly elected treasurer will now be able to open up a banking checking account for your club as well open a brokerage account. If your investment club hasnt decided on what brokerage to use this task will have to be delayed until a later date.
Education program. The vice president, or the education officer, should be planning the first education program that youre going to start learning.
Accounting. The newly elected treasurer should have the accounting system set up by the time your second meeting rolls around.
Software programs. If your investment club is going to use other types of software to keep track of stocks, profits, expenses, and other administrative information the newly hired secretary can purchase this software and have it installed. Remember to keep in mind that if more than one member of your club is going to use the software program on their computer that youll have to purchase multiple copies of the software or buy multiple licenses for more than one user.
Copies of last minutes. The secretary should be sure to have copies of the minutes from the last meeting available for all members of your club. This is so that each member, whether or not they are an elected officer, feels that they are a part of the entire investment club.
Original copies. All original copies of official documentation should be kept by the secretary in a safe place. This includes any registration papers, member information, stock purchases, and any other official records that need to safe guarded.
Your investment group should be as well prepared as possible for the second meeting. If you find that one or two people from the first meeting have dropped out, but you still want to keep up the numbers of your membership, you should invite any new members to this second meeting.
Investment Clubbers
83 Volatility (beta) 1.
The National Association Of Investment Clubs
The Thrill of Investing Investing in the stock market is a fun and exciting way to learn more about financing and more about investing your money successfully. There are several other administrative issues that youll want to discuss at your first meeting. You shouldnt be too concerned if the majority of the people who have expressed an interest in joining your club are all new to the stock market. You dont need to make this decision on your first meeting but members should come to the next meeting ready with several ideas to share for a club name.
If some members of the group are only interested in making a profit, instead of learning more about investing and the details involved, there will be a divided set of goals.
If youre thinking about hiring your discount broker from the Internet there are some things that you should keep in mind. If it comes down to two or three brokers that have caught the attention of members of your investment group youll have to vote and have a majority ruling. There are many investment clubs around the country that have been running for a long time. The important thing is to have fun investing and learning about the stock market with a group of people that share your interests.
|
