We buy the shares through an execution only stockbroker, who buys and sells shares for the club. He does not give advice on specific shares.
A share certificate cannot be in the name of a partnership and, technically, investment clubs are partnerships. So shares are held through a nominee company which is operated by the stockbroker which allows its name to be used for the registration of shares. A formal agreement has been drawn up between the broker and the club, and two members of the club act on its behalf.