Regular meetings

The focal point of an investment club is its regular meetings.

Where and when should we meet?

Meetings are usually held monthly. This is not a hard and fast rule, but longer gaps are impractical if everyone is to keep in touch with the share market. Most clubs set a regular pattern, say the first Tuesday of the month.

The choice of venue for meetings is important, as enthusiasm can wane if the group does not have a comfortable meeting place. Some clubs meet in members’ homes, while others may meet in a private room in a pub or restaurant.  If your meetings are held in members’ homes, you will need to decide on a fair arrangement for providing food and drink. Some clubs include a small fee as part of the monthly subscription to go towards drinks and food. This can also act as an incentive for members to attend meetings!

Although meetings are informal, it is important that they are run properly. Discussions should be relevant and the chair should exercise sensitive but firm control. The secretary should take minutes, including a list of members attending. As a matter of courtesy, members should submit apologies to the secretary in advance if they are unable to attend.

How do we keep meetings in order?

  • Having an agenda for each meeting helps ensure that the meeting remains focused, and that all important items are covered.
  • Before the meeting, the club’s three main officers should confer to ensure that all items are on the agenda. The agenda should then be circulated to all members beforehand, along with the minutes of the previous meeting and the treasurer’s monthly report.  Download a draft agenda (RTF 13.0KB) your club may wish to adopt for its regular meetings.
  • Once the formal business meeting is finished, the social side of the investment club usually begins. It is important, therefore, that your chosen venue is not just suitable for the formal proceedings, but also conducive to the informal gathering afterwards.

What records should we keep of meetings?

The minutes of the meeting should include general housekeeping business, such as who is in attendance, financial updates and so on.

  • The main purpose of the minutes is to record the investment decisions taken at the meeting. Details of the stock in question, the buy/sell price, and the number of shares to be bought/sold should be recorded, as well as a summary of the discussion leading to the investment decision. Even when a decision not to invest in a share is made, the key points of the discussion leading to this decision should be noted.
  • It is important that the minutes make clear that all members are involved in making decisions. This helps demonstrate that the club is a democratic forum for discussion and investment decisions, rather than a setting where a few ‘active’ members may be seen as offering advice to passive members, which has legal ramifications. Minutes can simply note broad-based discussion and record votes taken on investment decisions.
  • Minutes should be circulated before the next meeting, to give members the opportunity to make any corrections.

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