Platinum Wealth

Hi Pirate Jack. Thank you for the kind words sir! Correct we started last week. Lots to come! Stay tuned. As for the growth, yes I also hope we grow for I am committed to this for the long haul.

That idea to me seems rock solid. Now to get make an appointment to get to the bank.

This is quite a radical change in forum behavior so will need to monitor how everyone feels, I personally like it. This is one of the major reasons why I prefer Tapatalk due to the notification factor.

We are busy updating some scripts from a previous test environment and applying it here. This will enable Platinum Wealth to send you notifications similar to what web.whatsapp.com and push pullet does. Please use this thread to discuss any issues or suggestions regarding the new modification. At this moment there are 4 triggers: - You are quoted - Someone replied in your topic - You are tagged (trough @Yourname) - You received a PM This will happen: Then you must please accept to receive messages ( press green ): Then if all goes as plan like it did in the local environment, this should happen:

The hidden Sub-Forums for the Platinum Wealth club has been created, if you as a non-club-member discover anything visible please report it to me Thorough testing has been done to ensure it is protected, but can't hurt to have a extra pair of eyes also keeping watch. As for general users who thinks about joining the forum, you are more than welcome ALL of the forum functionality is available to you for FREE, it's only private introductions of the Platinum Wealth investment club members that is hidden from the public. For existing investment clubs, feel free to send me a message if you would like your club to be listed on here as well complete with hidden sections the works, again it's completely FREE. This is what you should NOT be able to see:

R250 will stay for the foreseeable future, this will be added to the Agenda for the meeting just in case. My understanding is the minimum became an issue due to Nedbank, however with Nedbank absolutely not bothered to answer mails I doubt we will end up with them, if all goes well I should find a time where I can slip into tygervalley and go to all the banks personally and see who can accommodate us. However this entire discussion will be handled here -> http://www.platinumwealth.co.za/forum/showthread.php?tid=1&page=3

Meetings will be conducted strictly according to the "to be finalized" Agenda that will be E-mailed to each member hopefully on Thursday.

From Skype Website: Group Video Calling Fair Usage Policy Group video calls are subject to a fair usage limit of 100 hours per month with no more than 10 hours per day and a limit of 4 hours per individual video call. Once these limits have been reached, the video will switch off and the call will convert to an audio call. Had no idea there's now FUP's on skype, feels like Mweb.

This will be a conference/Group call also just need to brush up on my Skype skills I know one can do it with hangouts so should be easy with Skype. Will check and confirm.

Not to bash Nedbank, but I am not impressed with there response time and general responses thus far. I truly hope this will not be a reflection of their business. I am now going to send FNB a mail to find out if they have a product that might work for us, surely between them and RMB there should be a account tailored for out needs.

Maybe ask him in any case. Specifically regarding the minimum deposits. I have received a E-mail form Nedbank and from the looks of it it appears we as a investment club can register for the Just Invest account. However the monthly payments minimum is what I want to highlight now to them since they requite minimum deposits of R500, however maybe they will understand that this will be 11 people giving R250. The only drawback is this: • At least two of the signatories nominated by the club (as recorded in the bank's records) will be required to sign when making withdrawals. • There is no maximum number of club members, however at least three members nominated as signatories on behalf of the club, are to sign when opening the account. • No transaction charges or account maintenance fees apply.

If this club with over 4000 members and a capital account of £20.5m can do it smoothly then our club should be a breeze -> http://www.cmic.uk.com/

As was written in the Club Rules so it shall be written here. Skype/Hangouts which ever the majority has shall be used for the meetings

A mail has just been send out to all registered members. In the mail each member is also ask to send phone number so we can establish the notification only whatsapp group and also each member will register here as well.

Received a read receipt 30 minutes ago. Lets hope they are formulating a solution and not ignoring the mail.

Fully agree, An E-mail will be send out to all 11 club members directing them to this thread in a few minutes. As per the communications agreement -> http://www.platinumwealth.co.za/forum/showthread.php?tid=9 members will be responsible to view the forum every now and again to stay up to date. The current whatsapp group will get a notification now after that the group will be close down to only the 11 members at which point the whatsapp group will be used for notifications only.

May we never end up that fashion-less.

We have reached 10 registered members. There is 3 potential applications outstanding today which means we might be 13 members at the end of today. Everything is on track to launch on the 15th. Two primary steps needs to be completed: The bank Account -> http://www.platinumwealth.co.za/forum/showthread.php?tid=1 The first meeting -> http://www.platinumwealth.co.za/forum/showthread.php?tid=30

I think the idea behind the maximum ownership rule is to prevent any one person or group of people from exercising too much “control” of the club. Which if we had a vote weighed on Capital Account, this would have been a problem and we need to impose a limit. However currently we are leaning towards a "One person, One Vote" system which brings it's own set of disadvantages; Can you imagine Warren Buffett endorsing a shareholder proposition that would allow each shareholder (including himself) a single vote regardless of whether they owned 33 percent of the company? Yet, this is exactly what we are doing if we restrict voting to “one person, one vote.” Members with the most at risk in the club, often those with the longest terms and greatest amount of experience, are relegated to a minority position. By and large, what’s good for these members is good for the club, and I’d never join a club where new, less-experienced club members could have a greater say in the club’s investments. I do, however, endorse a compromise whereby voting is conducted on a “one-person, one-vote” basis by default, provided that any member can call for a vote weighted by capital accounts if desired. This accommodates ease of tallying votes in a meeting but allows members with a greater interest in the club the protection they deserve. We need to think long term 10 years from now when we have a noteworthy amount in the bank. Needless to say this will be a hot one on the agenda for the first meeting.

Oh. no no no

At the first meeting the Bylaws will be created/discussed. "Go with the Flow" status can be incorporated into the rules I am sure of that although participation is encourage.

Please use this thread to discuss the date of the meeting and the agenda for the first meeting. We are currently 8 registered members. The ideal would be that we can get to 10 members in this week and then do the meeting over the weekend by means of skype. Should a member not be able to use skype or a similar service due to whatever reason be rest assured the initial meeting will be digested into an E-mail and send to you. Nothing will ever be implemented with all members being aware although it is strongly suggested to attend the Skype/Hangouts/SimilarService online meetings.

That statement is correct. The initial idea was to deposit R1000 in month 1 then contribute R250 for 12 months so that in month 13 we have R120 000 ( Keep in mind that number was calculated using a different starting member count. ) As for the target amount, that will be discussed by the members at the first meeting to make sure everyone is happy.

Very good point. The first meeting will need to be conducted before the 15th. Will create a separate thread to discuss the time and means of the first meeting. As for the signatories, if Nedbank responds to the mail that I have just send then I will ask them how their verification process works then we take it from there.

That would be the ideal. To get the initial payment this month preferably the 15th and then the recurring payments will start from July 1st 2016. Now is only South Africa had the ability to open a bank account without needing to enter the physical branch.