We received these questions from a member. Since these are probably questions other members had, we wanted to forward over the answers to you.
Who are the decision makers for this fund and their respective backgrounds?
Right now the club decision makers are myself and my CPA. Aside from that we are still recruiting successful investment advisors that we know will be great managers. The goal will be to allow the team members to vote on ideas with my guidance. We plan to present a few different options (monthly or bi weekly) and leave it up to vote.
Does the group have a say in what companies we invest in or will it all be by proxy?
Absolutely. We want to present all the investments about a week before we buy and then we can vote via survey monkey. Members can submit their ideas as well and we can incorporate their picks into the vote after we vet them. Lastly, we don’t have to pick just one fund or stock per month.
What happens if I miss a payment?
If you miss a payment your position will be adjusted based on the increase in firm assets compared to your percentage invested. It will be a moving average if you will. You won’t be penalized or fined.
If I want out of the group, how long will I have to wait to cash out?
We will open the fund twice a year. If you request a cash out we will cash you out within 30 days. If you have an emergency we can cash you out but then there would be a ten percent penalty for cashing out at any other time outside of the pre selected times.
If I cash out, will I be able to get back in?
How will I fund the account?
You can fund any way you like. We can link you directly to the Scottrade account or we will allow you to fund though paypal, venmo or through chase quickpay directly to the corporate account. All deposits and positions will be managed through investment club software so you can track your percentage in relation to the portfolio’s assets. We will also provide you with a monthly investment statement so you can track how well the fund is performing.