Myself and a couple of people have done / tried this a couple of times. The first time with a group of local people, who in the beginning were all fired up, but it slowly faded, and ended up with myself and colleague basically becoming "fund managers", which wasnt the point. I am now starting one with my brothers which will take the form of a club. We will need a constitution and FICA docs for all parties. the problem here is that you can only have one log in to the SFM site, and only 1 person can log in at a time. It would be nice if you could have multiple "passive" log ins. Anyway thats where we are now. Some people have suggested opening a Trust or a CC, but that depends on the size of your club.