I'm looking for some friendly advice about starting an investment club.
I'm currently a university student studying a double degree in Accounting and Finance, with one more year until completion. I currently trade my own funds and have done for about three years now. I have work experience at both brokerage firms in electricity wholesale markets and interest rate swaps, whilst also spending time an accounting firm.
My question is; a few mates and myself would like to start an investment fund(Iím not sure if thatís what its actually called, it will be run more like a democratic investment club, whereby we all have a vested interest), we would essentially just like to incorporate like minded students and invest together with each personís funds. For arguments sake say we all invest $1000 each. Each week we gather to discuss stocks and vote on the weekís trading strategy. The goal would essentially be to make money and distribute profits evenly back to all members (would it change anything if founders took a percentage of profits as feeís?), whilst also learning about the market and new researching techniques, relative to each person level.
I would like to be a company also, or does that complicate things? Will i need a license? Considering i will not be giving specific advice, as we all vote after group research. I will be the one initiating the trades tho, on behalf of the group.
Just to clarify my motives, this is not a scheme to just gather peopleís money and trade it to satisfy my own interests. The people invited to the club are friends which share the same interests. i see it more as a learning community.
Any help or ideas is greatly appreciated, feel free to give advice knowing that I will nor act on it or hold anyone to it.