I saw a Simpsons episode where Marge joined an investment club with her friends. Has anyone heard of people, a club, friends, or a group, pooling a small amount of money (each) into an investment strategy? Is that something people would consider?
Would a trust or such NEED to be setup to hold the assets of the individuals? or would that be optional - although obviously more risky for the people, could a single entity hold it with a legal document on the side attributing ownership be sufficient legally?
The ASX has a minimum purchase of $500. Can I be given $50 from 10 people and buy this allotment on their behalf. Am I then a broker? - and required to be licensed?