Networking group for super rich coming to Canada

Networking group for super rich coming to CanadaJonathan Chevreau July 26, 2010 ‚Äì 10:52 amAn exclusive American networking club for the super-rich says it plans to expand into four Canadiancities. With annual membership fees of $30,000, it’s likely to stay exclusive.TIGER 21 is an acronym: in this case, a real stretch. It stands for The Investment Group for EnhancedResults in the 21st Century. Headquartered in New York and founded in 1999, it now has groups in LosAngeles, San Francisco, San Diego, South Florida, Dallas and soon Washington. So far it has only 140members but it’s looking for 56 new ones in Canada for groups being formed in Vancouver, Calgary,Toronto and Montreal. They hope to have their first meeting in each city in the first quarter of 2011.TIGER 21 calls itself a “peer-to-peer learning network for high net worth investors.” Groups of ten to 14gazillionaires meet monthly to swap investment ideas and chat about wealth creation.30,000 Canadians have the $10-million minimum wealth needed to qualifyIn a press release issued last week jointly from New York and Vancouver, the group said Canada hasmore than 251,000 high net worth individuals, including 30,000 who have the minimum C$10 million ininvestable assets needed to qualify for membership. Canadian membership will be capped at 56 for thefirst two years.Understandably, the emphasis appears to be as much on wealth preservation as wealth accumulation. Akey part of the meetings is a portfolio defense session, where a member presents his/her personal balancesheet, income statement and financial goals. The rest of the group then reviews and analyzes this in thecontext of the larger events of the subject’s life.According to TIGER 21 president Jonathan Kempner, members are encouraged to be “as candid aspossible” about individual and family issues that may affect their investment choices. Members also getpresentations from leading hedge fund principals, private equity investors, financial writers and portfoliomanagers.You can find more about the Canadian unit here. Or click here for a recent CNBC video with Tiger founderand chairman Michael Sonnenfeldt.For more information please contact Harley Frank at (212) 584-0222 or email him at Harley. Frank@tiger21.com