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03-02-2013, 11:17 AM
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#1
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RS has made me the bitter person i am today!
Join Date: Jun 2010
Posts: 4,658
Thanked 4,282 Times in 587 Posts
Failed 766 Times in 143 Posts
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Tip on starting up an investment club/fund?
Hey guys, currently in the process of starting up an investment fund/club with a bunch of my buddies from my university. I am new to this,but I thought it would be a good idea to start one up and be familiar with the markets, etc. Each member would pool in money and use our capital to invest in the markets and so on through a formal process of course (stock pitches and voting, etc)
What are the legalities in starting one up? We already have a broker under Questrade. We have also done a constitution with every member's signatures and witnessed by a legal entity for safety purposes. However, do you guys feel that it is mandatory or important to set ourselves up as a legal partnership (E.g. LLC) under the provincial government? Note: I am currently studying out in Ontario, so I would be registering in Ontario
What legal restrictions would I be facing in starting an investment club?
Moreover, do you guys have any other tips or suggestions in starting up this club/fund?
Thanks in advance. Any advice would be appreciated!
__________________
Quote:
Originally Posted by !Aznboi128
me: can I tap that
her: why are all guys asking the same f**king question?
me: i uno.... so can I tap that
her: stfu you got a gf
me: tap together?
no reply...
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03-02-2013, 11:41 PM
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#2
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SiRVs up, dude
Join Date: Jan 2004
Location: Outerspace
Posts: 4,775
Thanked 345 Times in 178 Posts
Failed 33 Times in 18 Posts
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I am not sure how you will present the idea of this club to your student society. It seems like there is a questrade account (<- singular). Does this mean that you will have one QT account supporting a big club of people? If so... how do you determine the logistics of who does the trading (when to buy AND when to sell - this might cause a lot of issues within the group), how much money they are allowed to trade etc.
And recruiting... be careful not to turn it into a ponzi scheme in the making
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03-03-2013, 12:10 AM
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#3
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I *heart* Revscene.net very Muchie
Join Date: Dec 2007
Location: vancouver
Posts: 3,550
Thanked 4,012 Times in 988 Posts
Failed 210 Times in 55 Posts
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but... ok ill try being serious here... shouldn't really have to worry about real legal issues unless your "managing" 100s of thousands - millions in capital
make sure everyone's name is on the account
and please to god don't call yourself a "fund"... 
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03-03-2013, 03:41 AM
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#4
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I keep RS good
Join Date: May 2001
Location: Cosmos
Posts: 28,736
Thanked 5,599 Times in 1,524 Posts
Failed 889 Times in 301 Posts
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You will learn a lot through the hardship to come.
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03-03-2013, 08:34 AM
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#5
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I contribute to threads in the offtopic forum
Join Date: Jun 2006
Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
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Expect to lose friends and money.
Do it with play money to learn, if you all want to invest your own money, individually, if you want, but that would be your own choice
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05-07-2013, 04:53 PM
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#6
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14 dolla balla aint got nothing on me!
Join Date: Sep 2008
Location: richmond
Posts: 676
Thanked 280 Times in 59 Posts
Failed 71 Times in 17 Posts
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From your profile info...I'm guessing you're at queens right now? If you haven't already, I would suggest looking at the QUIC website...their fund has been very well managed since inception and their reporting procedures are quite clean. Guess you could start there...or better yet just get into QUIC instead of starting this club
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