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Hello. I'm totally new to the idea of a stock club. I want to start a club for frineds and family by invitation only. The idea would be like a traditional club where we pool our funds but I wanted to be the sole invester. Basically they would give me the funds to invest for them. Who would I go about this where I would be in control of the club and they would just fund it?
Is it legally possible?
How would such a club be set up?
Thanks,
Paul
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It's not illegal. There are some circumstances under which an entity operated in such a way could be subject to regulatory oversight and government registration, such as the number of investors, and whether or not you advertise the club publicly. You'll want to check with your state financial regulatory agency and secretary of state to determine any registration requirements that might apply to you.
There are plenty of similar type "clubs" out there, but we don't explicitly support them or have information or recommendations on how they should be organized.
Doug
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