Be sure the broker is established and does not move from firm to firm. The local library is the best place to start. You might call the reference librarian and establish a relationship. The librarian will often be glad to give your new club a tour of the reference section of the library and expose you to the many services and resources available. Once you are familiar with investment resources, you will find Value Line and Standard and Poor's to be among the most widely used tools for investment clubs.
Many investors subscribe to investment newsletters for ideas on investing.
Again, your local business reference librarian can assist you in finding all the newsletters in the library. Software is available from NAIC that is tailor-made for investment club accounting. This depends on whether the club is a partnership or a corporation. If the club forms as a partnership, the club can initially file with the IRS using form SS-04, indicating that each member will file any gains and losses from the club on their individual tax returns. By filing individually, the club may not have to file a partnership return every year thereafter.