The second step is to put out feelers to people who might be interested in joining. Check with folks at church, work, your friends and family, or your social club. Many groups, for example, have been formed at Elk, Rotary or Kiwanis clubs, and investing has become part of the formal meeting. Make sure that they have an affinity with you, too. The group becomes self-selecting.
Most people filter out after the first few meetings.
Most clubs that are successful have a long-term buy and hold philosophy, which fits with the notion that you only meet once a month. Learn by Doing Most investment clubs use online discount brokers. Investment clubs typically buy individual stocks and, over time, develop and manage portfolios. It's like creating your own mutual fund. The NAIC offers model portfolios and investment strategies.