Investment clubs

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11. Preparing for the inaugural meeting

The inaugural meeting is the meeting at which founder members of the club get together to make some important decisions.

In theory it is preferable for everyone to do some of the preparation work. In practice a few will be enthusiastic and take the leading role.

1. Club stationery

   As part of the preparation a member should produce a letterhead and compliment slips for the club. The address of the club should be that of the person who will do most of the correspondence with the outside world - probably the secretary or treasurer.

2. Sending out the invitation

   The invitation to attend should contain the draft constitution and rules, and the draft investment strategy.

   Click here for an example of an invitation to the inaugral meeting.

3. The agenda
   • Election of Chairperson, Honorary Treasurer, Honorary Secretary and auditor
   • Discussion and agreement of the name of the club
   • Discussion and agreement of the monthly subscription and joining fee
   • Discussion and agreement of the constitution and rules
   • Appointment of a stockbroker and nominee to hold the clubs shares
   • Appointment of bankers
   • Discussion and agreement of the investment strategy

   1. What is an investment club? 2. A simple explanation of how it works 3. Why join an investment club? 4. Deciding on your aims 5. Joining an existing club 6. Preparing to launch a new investment club 7. The draft constitution and rules 8. Drafting the investment strategy 9. Example of an investment strategy 10. Attracting members to your club 11. Preparing for the inaugural meeting 12. The inaugural meeting - appointment of officers 13. The inaugural meeting - key decisions 14. Things to do after the inaugural meeting 15. Starting the processes 16. Running the first meeting 17. Regular meetings - the key to success 18. The cash account 19. The capital account 20. The asset register 21. The annual general meeting 22. Tax 23. Performance measurement 24. Dealing with a member leaving 25. Conclusion

   Recommend Reading
   • ProShare Investment Clubs Looseleaf Manual
   • Fool's Guide to Investment Clubs
   • The Company of Successful Investors