Next steps

Once you have held an exploratory meeting and read the Proshare manual, the next step is to hold an inaugural meeting.

At this meeting you need to:

• Vote in the club's personnel
• Choose a name for the club
• Finalise a monthly subscription
• Finalise a venue and time for future meetings
• Adopt the ProShare rules and constitution
• Open a club bank account
• Choose an investment policy for your club
• Appoint a stock broker
• Invest in your first share (after careful research using Digital Look of course)!

Some handy hints

• Formalities at meetings should be kept to a minimum and most of the time at meetings should be spent discussing the merits of particular shares. Duties can be shared amongst club personnel with the key jobs of secretary and treasurer taking no more than an hour a month.
• Some clubs begin with an initial lump sum payment by members, which enables the club to make investments straight away rather than having to wait until the monthly subscriptions have built up over time. Remember that the lower the subscription level, the less frequently the club will be able to make investments.