An Investment Club is a self-managed group of people who pool their money or assets to invest as a group. The group may buy or sell their investments based on the members voting. Each member of a club may help other members make investment decisions or offer advice based on their area of expertise.
In the United States, the SEC does not regulate investment clubs unless the club invests in securities. Investment clubs hold meetings where the members study different investments and make investment decisions together. In an investment club, members take on various roles and responsibilities based on what they are good at.
There are no strict guidelines on the typical organizational structure in an investment club, but generally, below are the key roles and typical duties of each member:
Chairperson - The top governing role at a club, the Chairperson oversees club meetings, co-ordinates the other club members, and ensures that each club member's needs and commitments to the investment club are met.
Treasurer - The one in charge of a club's finances. The Treasurer manages monthly or annual memberships, asset valuations, bookkeeping, and tax-related issues. It is not uncommon for the treasurer role to also act as the club's lead trader.
Researcher / Analyst - Like in any investment firm, this person is in charge of researching and analyzing various investment opportunities based on the member's desires. This role is also often outsourced to an external firm.
Trader - He or she ensures that the investment transactions decided upon are executed as agreed at member meetings
Secretary - An administrative role, this person keeps a record of the investment club meeting minutes, general club administration and assists the Chairperson as needed.
In addition to the above, other roles may also be elected to an investment club. Such as a Portfolio Manager, whose specific job is to manage stocks in the club portfolio or track commodities and other assets and develop a projected return for the entire portfolio. The Portfolio Manager could also oversee the market schedule to make sure stock reports and company earnings releases are made available to members.
Based on the size of a club or assets under management, assistant roles can help split up the workload. Such as an Assistant Chairperson, who can chair and co-ordinate meetings in the Chairperson's absence. Or an Assistant Treasurer, to manage finances in the Treasurer's absence. A club may hire an Auditor who checks the accuracy of the club's accounts and transactions on an annual basis.
It is good to share tasks and functions across various members and roles to make sure everyone is involved in club management. This way, you also do not get into a situation where only a single person can perform a key club function.
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