Request for Quotation (RFQ) for Investment Club Services

What a good one includes

• A brief overview of your club’s structure, current asset size, and membership count to help providers understand your scale.
• A detailed list of the specific services you require, such as partnership tax return filing, member K-1 distribution, or custodial brokerage services.
• Realistic estimates of your monthly or annual trading volume and the types of assets your club plans to hold.
• A structured pricing table that forces vendors to break down their costs by flat fees, hourly rates, or per-transaction charges.
• Clear criteria for candidate qualifications, including licenses, experience with multi-member investment partnerships, and preferred communication tools.
• Precise instructions on how and when proposals must be submitted, along with the decision-making timeline.

Common mistakes to avoid

• Forgetting to ask about hidden transactional costs, which can quietly erode your club's monthly returns through clearing or platform fees.
• Failing to specify your club’s legal entity type, leading to inaccurate quotes from accountants who do not realize you require partnership tax filing.
• Sending a generic RFQ that does not set a firm deadline, resulting in scattered, delayed responses that stall your club's launch.
• Neglecting to ask if the provider has experience working specifically with investment clubs, as general retail brokers or consumer accountants often lack the necessary specialized software.

Frequently asked questions