Starting A Club
Industry observers recommend prospective members adhere to these guidelines:
- Consult a tax adviser on the taxation implications of the club's selected legal structure
- Establish an investment mission, policy and goals before investing
- Draw up a written operating agreement covering asset management rules and membership changes
Read more about this topic: Investment Club
Famous quotes containing the words starting and/or club:
“He was at a starting point which makes many a man’s career a fine subject for betting, if there were any gentlemen given to that amusement who could appreciate the complicated probabilities of an arduous purpose, with all the possible thwartings and furtherings of circumstance, all the niceties of inward balance, by which a man swings and makes his point or else is carried headlong.”
—George Eliot [Mary Ann (or Marian)
“The barriers of conventionality have been raised so high, and so strangely cemented by long existence, that the only hope of overthrowing them exists in the union of numbers linked together by common opinion and effort ... the united watchword of thousands would strike at the foundation of the false system and annihilate it.”
—Mme. Ellen Louise Demorest 1824–1898, U.S. women’s magazine editor and woman’s club movement pioneer. Demorest’s Illustrated Monthly and Mirror of Fashions, p. 203 (January 1870)