Little Phoenix Investment Club

FAQ top ten

l. Commitment

Members make as much commitment as they feel is realistically possible. We realise that individuals have dynamic needs and circumstances change constantly. We hold one all members meeting each month. Members at the very least attend this meeting through Skype or our online meeting room and keep updated with all the events.

On the other end of the spectrum, you can take as much effort in as you like. Do you fancy taking control of one of the investment teams or have a new investment idea you want to implement, but need help with your research? Team leaders are the most active members of the investment group. If you feel like you could fulfill this task, this role could be perfect for you. You can, of course, become an officer. An officer role requires less commitment, but you would still enjoy a degree of authority. The choice is yours.

2.       Payment flexibility

It is expected that all members will have 1000 units over the period of one year. To achieve this, most members opt to pay monthly subscriptions. You can pay in as much or as little as you choose to each month.

3.       Independent investing

You are free to invest and encouraged to take what you have learnt from investing within the investment group and put it into practice. Why not open a real account with one of our partners?

4.       Where is the money held?

Our accounts are held with a number of retail banks in the UK. All transactions require two/three signatures to sign. In other words, no single member can walk into the bank and take out all the money. Furthermore, all transactions are recorded on ‘Time To Trade’, just look for “withdrawn from bank”.

5.       Valuations

We revalue the investment club every month, if we have a member who wishes to leave or add additional units such as subscriptions, we revalue the units. This is because in order to find out the values, we must physically go into the bank and ask, as a safety measure, this cannot be done through the internet or over the telephone. We meet monthly and invest over the long term so this is actually in our advantage.

We use time weighted returns to work out our return valuations, this is done semi-annually.

6.       Leaving the club

All members who decide to leave the club (i.e. remove more than their initial unit purchase) will be subject to a leaving fee, which is stipulated in the contract they have sighed. Members can remove as many units from their account as they choose to, as long at it does not reduce their minimum holding amount. This is their minimum purchase plus any fee’s they have accumulated.

7.       Where does all the money go

The money goes back to the members, profits from fees goes back to active members who use our points system and to help promote financial literacy. This could be a charity donation or a free course run by us. I use any other money left over to pay flying monkeys to clean the club yacht.

8.       How will this boost my employability?

In reality the job market is getting more and more competitive, so having practical experience and a reference to vouch on your behalf has become very important. We also have many resources that are restricted to our members only including, tests, reading materials and direct links with boutique investment companies.

9.       I am not from a finance or business background can I still join?

YES, we get this question a lot. As long as you want to learn how to increase your financial literacy, you can join. You do not have to join our investment team directly either if you have the ability to design websites, create apps, make logos, feed bananas to vicious flying monkeys, cold call over the phone, research firms directly, get people to fill out questionnaires or any other skills you can join

 

Our community concept comes from the idea that we can each share our skills and help one another If you’re a doctor give us free healthcare, if you’re an IFA, free advice if you are an artist paint us a picture and any chefs should cook us all some food (you would be loved by all).

 

Finally, if you are interested in one of the four investment teams we will train you anyway, for free. Apparently, its worth quite a lot of money to learn what we teach for nothing and all we ask is that you feed a flying monkey or two… or just clean the yacht.

 

10.   Tax

 

HMRC gets notified of every member that joins the investment group. Most are students not subject to any tax, but a few are so subject to taxes so we notify HMRC when they join. Please see this link for more information.

 

http://www.hmrc.gov.uk/cgt/investment_clubsfaqs.htm

 

In brief will use our accounting system to automatically fill out all your tax returns (lazy I think not) but then we sent you your copy (via post and email) which is then left to you to deal with HMRC each member deals with their tax individually. Eventually when we pay someone (hint hint ASH or me) will construct a video explaining how it is done.)