If you are attracted to the idea of investing in the stock market but feel uneasy or intimidated about going it alone, then look at forming an Investment Club with other like-minded individuals from your family, friends, work colleagues or social circle. You then have a body that can share the learning, decisions and risk. You might even discover that it can be fun.

Once you have your core membership, you now need to organise yourselves into a legal entity. This will protect you and all the members and ensure the club runs to an agreed set of rules based on a constitution.

You are, in effect, forming a partnership with the express aim of investing in a variety of stock market vehicles for the benefit of the club and its members. So, begin by arranging an 'Inaugural Meeting' at a date, time and venue available to all your potential members. At this meeting you should elect a Chairperson, Treasurer and Secretary as the officers of the club (rather like a CEO and board of directors). You will need to give yourselves enough time at this meeting to also put the following in place:

- Name your club... (you will open your bank and stockbroker accounts in this name).
- Formulate your clubs' Constitution... (this is the clubs' instrument of government, a charter by which the club will operate).
- Formulate the clubs rules which all members should sign... (these rules are based on the constitution but also include how money is paid in, how Units are distributed, how new members can join and members leave etc.).
- Agree on the initial and monthly subscriptions paid by the membership.
- Research and appoint the right Bank for you.
- Research and appoint the right Broker for you.
- Agree your investment strategy... (this will depend on how you view risk to reward).
- Decide the best method of research and education.
- Elect stock champions... (a 'stock champion' is given the task to conduct detailed analysis of potential investments which they present to the members).
- You might want to form an Investment Committee... (to ensure your portfolio is geared to your investment aims).
- You will also need to prepare a document which will be used to inform your local Tax office that you exist.
- Decide the date, time and venue of your first ordinary monthly meeting.

And there you have it, your investment club is up and running and ready to take the financial world by storm. Regular meetings are held to assess an existing portfolio, plan future trades and bring new members into the fold. Your Treasurer will let you know just how much your investments are worth and issue more units for your monthly subscriptions. Any points arising can be discussed and voted on and, in between meetings, research and education can take place involving all the membership.