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Joe Craig
Ellicott City, MD
StockCentral Administrator
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| 12/03/2007 2:28 PM |
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The Club Hub: Investment Club Learning Center
 Learn how to start and run a successful investment club from Doug Gerlach, America's Investment Club Expert. Doug, the author of five books (including Investment Clubs for Dummies), has helped tens of thousands of clubs and their members to become smarter investors using sound, long-term stock investing strategies and common-sense guidelines for club operations. The "Club Hub" is a complete library of articles on starting and running an investment club written by Doug and his fellow club experts.
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Joe |
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Danny Matthews
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| 12/03/2007 4:35 PM |
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EXCELLENT addition to the site!!! |
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Danny Matthews
Tuscola IL |
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Laura Scott
Florida
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| 12/04/2007 2:09 PM |
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I agree - this is an excellent resource adding the link to Stock Central. Good stuff!! |
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Francine Beifeld
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| 12/30/2007 12:09 PM |
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Hello, I am in a club but have never used any online discussion so this is new to me.
I know that NAIC has a "find a club" program as I submitted paperwork and our club has had both visitors and joiners. But I cannot find out where this section is online.
HELP.
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Joe Craig
Ellicott City, MD
StockCentral Administrator
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| 12/30/2007 12:26 PM |
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Hi, Francine!
First of all, welcome to StockCentral. We're happy to have you here, and I hope that you'll return often, participate in discussions, ask questions, etc.
Second, you should know that StockCentral is NOT NAIC/BetterInvesting. ICLUBcentral, the company that owns StockCentral, has a relationship with NAIC/BI. ICLUBcentral creates software for clubs and investors, and much of their software is sold through NAIC/BI. But, ICLUBcentral has other products and services. This site and the Online Club Accounting service are two of them. The "Club Hub" at the iclub.com web site is intended to be a source of information for club, club members, and other investors. It does not offer a referral service for clubs or prospective club members.
I'm aware of the NAIC/BI "Find a Club" program. I don't believe that there is any online forum that supports the Find a Club program. NAIC/BI does host a few mailing lists, but they aren't official NAIC outlets. There is also an NAIC/BI Forum at Compuserve.
But, feel free to use this site and our forums for your education and information exchange. We'll welcome your participation! |
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Joe |
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Gene Rooks
Gotha, FL (W. of Orlando)
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| 12/30/2007 12:31 PM |
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Francine, the FAC program that BetterInvesting
tried to get going is still up on their website. It has not been
particularly successful, due to overcautions SEC worries and red tape they
require to make a match. If you are seeking a club to visit in
a particular area, this forum on StockCentral, where you wrote from, is as good
a place as any to ask if any club would be willing to have a visitor in a
certain area.
Extending a membership invitation is always up to
the club, and we would also urge anyone visiting a club to be sure they look
into their PA and bylaws to know what you are getting into before you consider
membership. Even if the club doesn't require it, three visits before
committing is a very good idea.
Gene Rooks, Space Coast Chapter
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Gene Rooks, Director
Space Coast Chapter
Accounting Instructor |
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Francine Beifeld
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| 12/30/2007 2:21 PM |
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Thank you for pointing out the difference. I guess I had the two groups confused. I went onto the Better Investing site and found the listing of chapters and was able to send my friend the information for her area.
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KENNEDY GREENAWAY
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| 02/12/2008 11:51 PM |
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Hello,
I am a newly appointed treasurer/vice president of an investment club and need the assistance and guidance of you fine experts. Can you please give me some suggestions concerning some remedies for members who do not pay dues on time?
Also, can you give me some pointers on being a really, really good treasurer?
Thanks in advance.
Ken
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Danny Matthews
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| 02/13/2008 6:41 AM |
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Hi Ken, I was in a club for ten years served as treasurer for four, and it seems this is almost a certainty. At one point we just had to sit down and remind everybody that we are adults here, no one has the responsibility to look after you, it is not the treasurers job to seek payment. the treasurer should only receive and deposit and take care of the books.
Remind members that if they are not going to make a meeting be sure to send payments with someone. Get the agenda out as early as possible so there won't be the excuse of forgetting. We used to put at the top of the agenda "Have your check prepared and include the acct. number on the memo line" This stopped people from not paying attention to the beginning of the meeting and passing papers back and forth and talking over whomever was speaking.
At the end of the year when we went over next years goals we also added "No Late Pays" as a goal. We had everyone sign on, once the goals were established.
Most of all remind the members that you are busy enough without having to take on e the duties of collections enforcement. Treat it like a business, pay on time, if they are not able to keep their word ask if they think this, the club, is the right place for them. Good luck Ken |
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Danny Matthews
Tuscola IL |
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Gene Rooks
Gotha, FL (W. of Orlando)
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| 02/13/2008 8:28 AM |
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Ken, you have found a really good resource right
here on this list. Danny's suggestions were good, I personally don't like
the ideas of having late fees as some clubs do.
When you have a segment at a meeting to emphasize
the member's responsibility to have their payment in on time, also advise that
you will not wait on late payments beyond a few days, like the end of week if
you have your meeting early in the week, and then the deposit goes in.
Anything that comes in later will wait til the next month's deposit to get
credit.
As Ira suggested, if someone consistently misses
payments, not just a day or so late getting them in, you need to review your
PA's requirements for active involvement or being dismissed from the
club.
Gene Rooks
Space Coast Chapter
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Gene Rooks, Director
Space Coast Chapter
Accounting Instructor |
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Danny Matthews
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| 02/13/2008 8:52 AM |
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We stressed that the dues were due at the time of the meeting. We had a set meeting time every month so there should be no surprises. Usually the treasurer recorded the deposits and mailed the checks off the next day, we had a 48 hr deposit rule. Another reason is, we looked at it as costing the club money by not having all of our cash in our account. (I know it was a minimal amount). |
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Danny Matthews
Tuscola IL |
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KENNEDY GREENAWAY
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| 02/13/2008 8:29 PM |
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Hello Danny,
Thanks for the heads up on this situation.
Ken |
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KENNEDY GREENAWAY
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| 02/13/2008 8:33 PM |
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Hello Gene,
I do appreciate your time and effort spent in responding to my concerns.
Ken |
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Cindy Dubansky
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| 09/25/2008 2:13 PM |
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Is there some way to get sample Partnership Agreements from other clubs or organizations?
My club has been together for about 12 years and we are currently undergoing a complete overhaul of our Partnership Agreement. We've added amendments over time, but we're finding our document in general to be a bit outdated. I've been perusing forums and that's really helpful. We need fresh information and insights.
Thanks for any suggestions or information.
Cindy
Minneapolis |
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Gene Rooks
Gotha, FL (W. of Orlando)
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| 09/25/2008 3:02 PM |
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Cindy, the very first entry in this forum from Doug gives the link to his resources for starting and running a club at IClub. Here is the direct link: http://www.iclub.com/clubs/iclub_hub.asp
You will find among the topics a sample PA and ByLaws. Also, I'd be happy to send you a copy of our club's documents if you write me at GeneRooks@cfl.rr.com
You are wise to review and update your PA, things change in the club's priorities, and sometimes the original PA has outmoded language and policies in some areas.
Gene Rooks
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Gene Rooks, Director
Space Coast Chapter
Accounting Instructor |
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rip west
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| 09/25/2008 10:22 PM |
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Hi Cindy,
My personal opinion is that the 'standard' agreement as first recommended by NAIC has stood the test of time and, with one exception, is superior to all others that I have seen since. The one exception has to do with fees assessed on members who withdraw.
What I think would be really helpful is if we could establish a dialog here on additions/deletions/changes made by clubs to the standard agreement. Your club would be a fine place to start. What is in the standard agreement that you wish to change?
Rip West
Saint Paul (but I was born and brought up in Minneapolis ) |
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