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Platinum Wealth

Discuss The Partnership Agreement

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The Platinum Wealth Partnership Agreement can be found here: http://www.platinumwealth.co.za/documents/

 

Use this thread to discuss any matters related to the Partnership Agreement.

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I feel obliged to tell you what I changed in the partnership agreement. Remember we used the example from PSG and changed it. This changes are open for discussion, I will mention my reason behind the changes (PW = Platinum Wealth):

 

Point 4. Purpose

PSG: Purpose: The purpose of the partnership is to invest the funds of the partnership solely in shares, for the education and benefit of the partners.

PW: Purpose: Purpose: The purpose of the partnership is to invest the funds of the partnership in different investment vehicles, for the education and benefit of the partners.

My reason: Don't want to limit us just to shares...

 

Point 5. Membership

PSG: Membership: Members of the investment club will be referred to as ‘partners’. The investment club will at all times consist of between 2 and 50 partners.

PW: Membership: Members of the investment club will be referred to as ‘partners’. The investment club will at all times consist of between 3 and 20 partners.

Reason: 2 people can also be a club. We put in a limit of 50. We can always change it later.

 

Point 12. Meetings

PSG: Partners must attend the minimum number of meetings required (normally 75%+).

PW: Partners must attend the minimum number of meetings required (normally 50%+). Added: Meetings can also be held online.

Reason: We are all busy and 75% is high for me. Online=Skype

 

Point 13. Research

PSG: Research: All partners are expected to research at least one company per month, using a recommended system of company evaluation.

PW: Research: All partners are expected to research at least one company or investment vehicle every 6 months, using a recommended system of company evaluation.

Reason: Felt that every month was to much, we all have a family and full time work... And that if we need to do research, everyone will go out of their way to do the research at that time.

 

Point 15. Choose officers

PSG: Two internal auditors (who are not office bearers) can be appointed to audit the investment club accounts.

PW: N/A

Reason: Auditors are REALLY expensive, and I feel if we are transparent with everything, then this will not be necessary.

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