Starting Online Investment Clubs Part 2
By Ultimate Trading
Meeting With Your Online Investment Clubs
Youve met once, determined how often your
clubs are going to meet, how many members there are, and even
thought about a name. But your new online investment clubs arent
quite ready to make its first stock purchase yet. There are few
things that have to happen, including the election of club officers,
before you can settle down with a list of interesting stocks to
Lets start by considering those online investment clubs officers.
While all members of the online investment clubs will have duties
and responsibilities they need to fulfill to be members, the
officers, or executive, of the online investment clubs will have
greater responsibilities. Yet, without these positions filled, the
online investment clubs wont be able to function. Here are some of
the positions that most online investment clubs have:
· President. The president can also be known as the presiding
partner. The president decides when the next meeting is going to
take place (usually done with a mutual vote but made official by the
president), presides over the meetings, and plans activities
(usually done with a mutual decision by other members).
· Vice president. The vice president can also be known as the
assistant presiding partner. The vice president is the member that
stands in when the president is absent or needs help with
presidential duties. The vice president often plans the educational
section of online investment clubs meetings.
· Treasurer. The treasurer is also known as the financial partner.
The treasurer deals with the brokerage firm and does the buying and
selling of stock. The treasurer is also responsible for keeping
accurate records of the financial holdings of the online investment
clubs, the financial contributions of each of the members, and any
other records that concern themselves with money matters.
· Secretary. The secretary is also known as the recording partner.
The secretary is responsible for keeping the minutes of each
meeting, giving out copies of the minutes of past meetings to all
members, and informing members of upcoming meetings.
· Education officer. Many online investment clubs have what is known
as an education officer. This person is responsible for organizing
educational activities such as guest speakers, reading materials,
field trips, and presentations that have to do with investing.
Once the online investment clubs executive is in place, you can move
on to other business details that need to be in place for the online
investment clubs to operate. This includes registering the club, by
name, as a business with the state and applying for a tax ID number.
When the paperwork returns, and the ID number is assigned, the
Secretary should make sure that the paperwork is filed and that
members of the online investment clubs have access to the
information. All important documents are part of the Secretaries
responsibility, including member information and records of stock
With the tax ID number the Treasurer can open a checking account for
the online investment clubs, as well as a brokerage account. The
Treasurer, and club members, should also decide on the type of
accounting system (or accounting software) the online investment
clubs intend to use, and get it started.
If your online investment clubs are going to use other types of
software to keep track of stocks, profits, expenses, and other
administrative information it should be purchased and installed.
Remember that if more than one member of the online investment clubs
are going to use the software program on their computer youll have
to purchase multiple copies of the software or buy licenses for more
than one user.
The online investment clubs should also start to consider its
educational program. If you have elected an Education Officer, they
can take the lead here. If not, the Vice President should get things
rolling. Since a large part of the online investment clubs is about
studying the stock market, the education program you decide on will
have a great impact on the experience of the club.
With your officers in place, and all the business aspects of the
clubs taken care of, members of your investment club are now
ready to start on their journey of investing and learning.
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Online Investment Clubs