INVESTMENT. LIFESTYLE. COMMUNITY. - Tiger 21
SPRING // SUMMER 2014
INVESTMENT. LIFESTYLE. COMMUNITY.
RAISING A GLASS TO THE NEW PLACES WE CALL HOME Introducing the Aspen Log Cabin INVESTMENT SPOTLIGHT Impact Investing: More Than Just Money ‘CELEBRATING LIFE’ AT CUVÉE INSPIRED EVENTS Aspen Food & Wine
FAMILY VACATIONS filled with
CUVÉE INSPIRATION UNFORGETTABLE MOMENTS with THOSE YOU TREASURE MOST
WWW.CUVEEESCAPES.COM
WE RECENTLY SAT DOWN WITH CLAY SPEAKMAN, THE CO-FOUNDER OF MAGNOLIA LIFESTYLE + BENEFITS TO DISCUSS A NEW TREND IN LUXURY SPENDING: THE ROLE OF A PURCHASING ADVISOR. Clay Speakman, President and Co-Founder
Q A
What is a Purchasing Advisor? A Purchasing Advisor assists families in making a smarter purchase. Similar to a Wealth or Tax advisor, the Purchasing Advisor has a duty to be transparent in representing their clients best interest in a transaction or purchase. By leveraging the collective buying power of many families, a Purchasing Advisor can also create compelling purchase opportunities for each family.
Q A
How was Magnolia created and who do you assist with purchases? Magnolia was developed in 2013 as an exclusive member benefit for TIGER 21, a group of 250 private investors collectively managing over $25 billion in assets. In early 2014, Magnolia began offering the same services to an additional 700 global families who spend an average of $500,000 or more annually on lifestyle and professional services. In fact, we currently have invited Cuvée investors to enjoy these services.
Q A
How many purchases have Magnolia Members made? Since launching in January 2013, we've completed over 400 purchases on behalf of our Members, totaling nearly $25 million and capturing a cost-savings of $4.2 million. Our purchases range from watches to multi-million aircraft, with an average purchase around $80,000.
Q A Q A
What were the most popular purchases last year? Private Aviation, Auto Purchases, Family Travel and our Group Insurance programs have been the most popular. However, we've also seen large costsavings in our Art and Jewelry practices. What have you seen as the biggest benefit to Members? Everyone likes to “win,” however many times the most valuable thing to a member is gaining access to a product that they couldn’t otherwise obtain. We focus on helping Members make the smartest purchase and saving them precious time during the entire process.
For example, a Purchasing Advisor can review a current bill from a members’ aviation provider and negotiate it down 20%, and in the next instance be interviewing three art firms to determine which is best to represent the member in the purchase of a European sculpture.
Q A
How is this different than a concierge service? While traditional concierge services are quite good at arranging dinner reservations, floral arrangements, errand services, etc., our team really excels at the larger lifestyle areas such as villa travel or private aviation, where a savings in time, purchase amount, and special access really requires expertise to make a difference. Because the role of a Purchasing Advisor is to guide the client to the best purchasing decision in each case, Magnolia doesn’t have exclusive marketing relationships with any brands. We explore and recommend any options in the marketplace that make the most sense for our members, as well as present any pre-negotiated benefits that we’ve secured on behalf of our members.
In fact, we currently have invited Cuvée investors to take advantage of the benefits of Magnolia. FOR MORE INFORMATION VISIT: MAGNOLIABENEFITS.COM
28
PURCHASING ADVISORS PROVIDE ADVICE, NEGOTIATION AND COORDINATION ON SIGNIFICANT PURCHASES IN SIX CATEGORIES: COLLECTIBLES: Art, Jewelry, Watches, Fashion, Wine & Auctions
FAMILY SERVICES: Health, Wellness & Family Education
FINANCIAL SERVICES: Insurance, Estate Planning, Mortgages & Accounting Services
TECHNOLOGY: Home Entertainment, Computers, Communications & Software
TRANSPORTATION: Auto, Yachts & Private Aviation
TRAVEL AND ENTERTAINMENT: Travel, Entertainment & Villa Rentals
WHEN A PURCHASING ADVISOR MAKES A DIFFERENCE PRIVATE AVIATION: A Member recently asked Magnolia for a second opinion on a roundtrip flight booked from NY to the Caribbean as part of his card program. After review, Magnolia was able to present similar options at a savings of over $14,000, to leverage against his current program to match our best price, passing along a notable savings. COLLECTIBLES: A member recently asked Magnolia for help purchasing a 19th Century painting by Corot. Through their Art Advisory program, they provided education and a physical assessment of
the piece. The final sale price represented a cost savings of $105,000. JEWELRY: When a Member recently approached Magnolia for assistance in finding a one-of-a-kind ring for a very special occasion, they were happy to help. Locating the ring wasn't easy and negotiating a 15% discount was nearly impossible, but the true value of their service was having the ring delivered and wrapped with a bow at just the perfect time to present to his loved one. INSURANCE: A Member recently enrolled in Magnolia’s Group Umbrella
29
program and was very pleased to have saved over $16,000 per year on a $50 million policy, with an added $5 million in Uninsured/Underinsured Motorists and $250,000 Employment Practices Liability Insurance. AUTOMOBILES: Through their Fleet Auto Purchase/Lease Program, Magnolia was able to secure a custom order for a rare Mercedes Benz SL550 for a Member who had already visited multiple dealers with no success. In addition to coordinating priority delivery, they were successful in generating savings of nearly $9,500.00 vs. the MSRP of the vehicle.
INVESTMENT. LIFESTYLE. COMMUNITY.
RAISING A GLASS TO THE NEW PLACES WE CALL HOME Introducing the Aspen Log Cabin INVESTMENT SPOTLIGHT Impact Investing: More Than Just Money ‘CELEBRATING LIFE’ AT CUVÉE INSPIRED EVENTS Aspen Food & Wine
FAMILY VACATIONS filled with
CUVÉE INSPIRATION UNFORGETTABLE MOMENTS with THOSE YOU TREASURE MOST
WWW.CUVEEESCAPES.COM
WE RECENTLY SAT DOWN WITH CLAY SPEAKMAN, THE CO-FOUNDER OF MAGNOLIA LIFESTYLE + BENEFITS TO DISCUSS A NEW TREND IN LUXURY SPENDING: THE ROLE OF A PURCHASING ADVISOR. Clay Speakman, President and Co-Founder
Q A
What is a Purchasing Advisor? A Purchasing Advisor assists families in making a smarter purchase. Similar to a Wealth or Tax advisor, the Purchasing Advisor has a duty to be transparent in representing their clients best interest in a transaction or purchase. By leveraging the collective buying power of many families, a Purchasing Advisor can also create compelling purchase opportunities for each family.
Q A
How was Magnolia created and who do you assist with purchases? Magnolia was developed in 2013 as an exclusive member benefit for TIGER 21, a group of 250 private investors collectively managing over $25 billion in assets. In early 2014, Magnolia began offering the same services to an additional 700 global families who spend an average of $500,000 or more annually on lifestyle and professional services. In fact, we currently have invited Cuvée investors to enjoy these services.
Q A
How many purchases have Magnolia Members made? Since launching in January 2013, we've completed over 400 purchases on behalf of our Members, totaling nearly $25 million and capturing a cost-savings of $4.2 million. Our purchases range from watches to multi-million aircraft, with an average purchase around $80,000.
Q A Q A
What were the most popular purchases last year? Private Aviation, Auto Purchases, Family Travel and our Group Insurance programs have been the most popular. However, we've also seen large costsavings in our Art and Jewelry practices. What have you seen as the biggest benefit to Members? Everyone likes to “win,” however many times the most valuable thing to a member is gaining access to a product that they couldn’t otherwise obtain. We focus on helping Members make the smartest purchase and saving them precious time during the entire process.
For example, a Purchasing Advisor can review a current bill from a members’ aviation provider and negotiate it down 20%, and in the next instance be interviewing three art firms to determine which is best to represent the member in the purchase of a European sculpture.
Q A
How is this different than a concierge service? While traditional concierge services are quite good at arranging dinner reservations, floral arrangements, errand services, etc., our team really excels at the larger lifestyle areas such as villa travel or private aviation, where a savings in time, purchase amount, and special access really requires expertise to make a difference. Because the role of a Purchasing Advisor is to guide the client to the best purchasing decision in each case, Magnolia doesn’t have exclusive marketing relationships with any brands. We explore and recommend any options in the marketplace that make the most sense for our members, as well as present any pre-negotiated benefits that we’ve secured on behalf of our members.
In fact, we currently have invited Cuvée investors to take advantage of the benefits of Magnolia. FOR MORE INFORMATION VISIT: MAGNOLIABENEFITS.COM
28
PURCHASING ADVISORS PROVIDE ADVICE, NEGOTIATION AND COORDINATION ON SIGNIFICANT PURCHASES IN SIX CATEGORIES: COLLECTIBLES: Art, Jewelry, Watches, Fashion, Wine & Auctions
FAMILY SERVICES: Health, Wellness & Family Education
FINANCIAL SERVICES: Insurance, Estate Planning, Mortgages & Accounting Services
TECHNOLOGY: Home Entertainment, Computers, Communications & Software
TRANSPORTATION: Auto, Yachts & Private Aviation
TRAVEL AND ENTERTAINMENT: Travel, Entertainment & Villa Rentals
WHEN A PURCHASING ADVISOR MAKES A DIFFERENCE PRIVATE AVIATION: A Member recently asked Magnolia for a second opinion on a roundtrip flight booked from NY to the Caribbean as part of his card program. After review, Magnolia was able to present similar options at a savings of over $14,000, to leverage against his current program to match our best price, passing along a notable savings. COLLECTIBLES: A member recently asked Magnolia for help purchasing a 19th Century painting by Corot. Through their Art Advisory program, they provided education and a physical assessment of
the piece. The final sale price represented a cost savings of $105,000. JEWELRY: When a Member recently approached Magnolia for assistance in finding a one-of-a-kind ring for a very special occasion, they were happy to help. Locating the ring wasn't easy and negotiating a 15% discount was nearly impossible, but the true value of their service was having the ring delivered and wrapped with a bow at just the perfect time to present to his loved one. INSURANCE: A Member recently enrolled in Magnolia’s Group Umbrella
29
program and was very pleased to have saved over $16,000 per year on a $50 million policy, with an added $5 million in Uninsured/Underinsured Motorists and $250,000 Employment Practices Liability Insurance. AUTOMOBILES: Through their Fleet Auto Purchase/Lease Program, Magnolia was able to secure a custom order for a rare Mercedes Benz SL550 for a Member who had already visited multiple dealers with no success. In addition to coordinating priority delivery, they were successful in generating savings of nearly $9,500.00 vs. the MSRP of the vehicle.
