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What Is A Pooled-Assets Club?
Learning Proper Eye ContactHere is a tip for those of you whom are wondering why your messages just don't seem to get across to someone you are speaking to: It's not what you say that is important ..... Although it may sound unfamiliar or complicated, a pooled-assets investment club is nothing more than what you probably already think an investment club is. Specifically, pooled assets means that all the club members make contributions toward a common account, where their money is pooled before investing.
All members retain ownership of their own money, but it's held in the same brokerage account as everyone else's. The club treasurer, using club accounting software, keeps track of who owns what percentage of the club's portfolio and tracks individual members' investment returns as well as the return for the club as a whole. When a member decides to leave the club, the treasurer performs a withdrawal and pays out the amount of that member's ownership in either cash or stocks.
So, you may ask, "Why would I want to combine my money with everyone else's?" One of the biggest reasons is accountability. We're not talking about accounting, but rather the kind of accountability where you feel a commitment to the bigger group and you take your club responsibilities seriously out of loyalty to your fellow members. You've all put your money to work together, and the feelings of trust and a shared mission that come from this joint effort sparks a loyalty for your club that otherwise can be hard to find. If you're not contributing your money to the club each month, imagining that your sense of commitment might not be as strong is no stretch. There's something to be said for feeling obligated to others!
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Another huge advantage of the pooled-assets model is a reduction of expenses associated with your club's investing. If you personally want to invest $50 a month in a stock that you've studied, the brokerage commission costs are quite prohibitive. Even if you trade online at reduced rates, a $15 commission takes quite a big chunk out of your available investment money. However, if you're in a pooled-asset club, with 14 other members also contributing $50, that same $15 commission represents a much smaller percentage of your $750 pooled investment. Similarly, expenses for club accounting software or educational materials are spread across the entire membership.
Reduced expense is no small matter for investors who can set aside only a minimal amount in savings each month. Small investors can accomplish much more while paying proportionally much less as a group than as a single small investor. That is one reason why investment clubs are such a popular way of getting your feet wet in the stock market.
However, we can't hide from the truth that a pooled-asset investment club also can be a huge pain, especially for the club treasurer. Shared investment accounts lead to more complicated accounting practices than you need for your own personal accounts. The club treasurer must be diligent about record keeping and preparing valuation statements for the club every month and tax forms annually. Luckily, club accounting software considerably lightens the treasurer's workload, but pooling assets nevertheless creates an additional layer of complexity.
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