New York's Tiger 21 investment team targets growth in ... - cloudfront.net
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INANCE
Business in Vancouver September 7-13, 2010
New York’s Tiger 21 investment New York’s Tiger 21 investment team targets growth in Canada team targets growth in Canada
September 7-13, 2010
Issue 1089
)DLUPRQW+RWHO9DQFRXYHU :HVW*HRUJLD6WUHHW
Peer-to-peer learning group for high-net-worth investors to set up head office in Vancouver as it
Peer-to-peer learning group for high-net-worth investors to set up *UHDW'D\IRU%XVLQHVV expands north of the border head office in Vancouver as it expands north of the border
#1 !*$$14-/)(,&/$ )% 01
By Richard Chu
8:15am - 9:30am UFCZ4VF$MFNFOU]4VDDFTT$PBDIJOH
$ (,"-#
1$
By Richard Chu
f you’ve got a spare $10 million or so and want a second opinion on where to invest it, a new peer-to-peer and want a second opinion on wherenetwork to for high-net-worth investors invest it, a new peer-to-peer network for ssion is limited to only 50 attendees. that’s expanding into B.C. and high-net-worth investorsthethat’s expanding rest of Canada might be into B.C. andthe #rest of Canada might be for you. 2,"'$5,-1$/-&/ + (,"- $ New York-based Tiger for you. 1$ Time: 12 noon - 1:30pm 21 organizes formal learning New York-based Tiger 21 organizes ' 13$/5 , #( ,20(,$00$$#01- groups for investors with at formal learning groups for investors ,-4!-21 2""$$#(,&-, "$!--) least $10 million in with investible "MGSFEP5BO]4FOJPS%JSFDUPS 'BDFCPPL$BOBEB at least $10 million in investible assets. assets. Kempner, the Jonathan Kempner, theJonathan organization’s -,%$/$,"$ / #$0'-4 said it plans organization’s president, to create president, groupssaid it plans to create groups in 9:45am - 4:30pm in Vancouver, Calgary, Toronto Vancouver, Calgary, and Toronto ./$,$2/ .-1*(&'1 Montreal, with Canadian operations and Montreal, withbased Canadian *,1$/3($44(1' operations based in VancouVancouver. kus Frind, Founder, in Plenty of Fish ver. 4JN+PIO%FIBSU 'PVOEFST “You likely know our partners very well; $, (+ TF/FYU%PPS “You likely know our partwe haven’t announced them yet, but ners very well; wethey’ll haven’t anbe the ones to organize it. Theythem happen to nounced yet, but they’ll XUPNBSLFUZPVSCVTJOFTTJOUIF /1 $' ', the onesatobig organize it. They OHJOHXPSMEPGNFEJB be based in Vancouver, sobethat’s plus.” OJOHGPS4VDDFTT¬"#VTJOFTT1MBO happen to11 be based in VancouThe organization was founded years ago Works ver, so that’s a big plus.” professional LFUJOHBOE.BTUFSZand was modelled on several The organization was XUP%P#VTJOFTTXJUIUIF learning groups which organizes /)like TEC, founded 11 years ago and was 20/( eral Government ,# modelled on several profesformal learning groups for executives. NPSF sional learning groups like $ Tiger 21’s focus, (,"-# however is on providing TEC, which organizes for 1$ high-net-worth investors a groups monthly malwith learning for exec"$007$14-/)(,& $"$.1(-, opportunity to share investment ideas to utives. 4:30pm - 6:30pm Tiger 21’s focus, however is preserve and -01%2,5-2**' help 3$4'(*$+ )(,&&/$ 1 increase their wealth. on providing high-net-worth The organization has expanded across the $00"-,1 "10 investors with a monthly opDUXJUICVTJOFTTQSPGFTTJPOBMT FYFDVUJWFT U.S. to include 140 members in 12 groups portunity to share investment trepreneurs. Complimentary appies, San Diego, ideas to help preserve and inmplimentary drinkin andNew York, Miami, Dallas 1$ Francisco. $ San crease their wealth. The organ# SBXQSJ[FT Los$"Angeles and " (, * ( e/van .The ization has expanded soho.ca/sm Canadian groups of 10 across to register atfourFnew TPIP#*7 the U.S. to include 140 memPE OD QJ S FOUF 14 people will have a membership cap of 56 bers in 12 groups in New York, nationally and will likelyMiami, beginDallas meeting inLos San Diego, Angeles and San Francisco. 2011’s first quarter. Theof four new Canadian Kempner noted that most Tiger 21’s groups of 10 to 14 people will membership includeshave amain street membership cap of 56 entrepreneurs who acquired their nationally and willwealth likely begin meeting in 2011’s firstwho quarter. VFTUJOGPSNBUJPOPOIPXUPCFDPNFBO from selling their businesses and some PSDBMMVTBUFYUPSFNBJMVT Kempner noted that most made their money in the financial services
I
PTUQPQVMBSJOUFSBDUJWFOFUXPSLJOHGPSNBU FMBUJPOTIJQT NBLFOFXDPOUBDUT HFOFSBUF f you’ve got a s and leads.
[email protected]
I spare $10 million or so
sector. The average member has between $50 million and $60 million in investable assets, and less than 20% still work for a 6LJQDWXUH3DUWQHUV living. “Most members have sold their business or moved on or retired early because they
3ODWLQXP3DUWQHUV
Breakdown of high-net-worth assets in 2009 Alternative investments (6%) Equities (29%)
Real estate (incl. REITs) (18%)
Cash (17%)
Fixed income (31%) SOURCE: CAPGEMINI MERRILL LYNCH WEALTH MANAGEMENT 2010 WORLD WEALTH REPORT
While each a group of local achieved certain members has exclusive access level of financial to key experts in the financial security,” Kempner and investment communsaid. “Some don’t ity, the core of the eight-hour monthly meeting is a porthave experience folio defence chaired by a proon how to preserve fessional facilitator, in which their wealth, so members present their investthat’s their for focus ment portfolios groupfor critique. joining the group.” Kempner said members Tiger 21 president While each group question the asset allocation Tiger 21 president Jonathan Jonathan Kempner: of local members and diversification a preKempner: “you likely know our “you likely know our has exclusive ofaccess senter’s portfolio and share partners very very well” well” partners insights what investments to key on experts in the of Tiger 21’s membership in- they should and shouldn’t financial and investment community, the cludes main street entrepre- make. core of eight-hour meeting is a John Nicola of Nicola neurs whothe acquired their monthly portfolio defence chaired by Management a professional Wealth was wealth from selling their busigenerally positive about such nesses and some mademembers facilitator, inwho which present their their money in the financial- an investment group. investment portfolios for group critique. “It forces you to organize services sector. The average Kempner said$50 milmembers question the yourself to present the facts, member has between asset allocation and which diversification a a lot of peopleof don’t lion and $60 million in investAnd share you have insights to question able assets, and lessportfolio than 20% do. presenter’s and own decisions, because still work for a living. on what investmentsyour they should and “Most members have sold you know you’re going to get shouldn’t their business or moved on asked about them in the presmake. or retired early because they entation.” might achieved aJohn certain level of fi- ofA portfolio Nicola Nicoladefence Wealth nancial security,” Kempner sound threatening to a memManagement was generally positive about said. “Some don’t have experi- ber’s wealth adviser, but Nicsuch ola said that would likely afence on an howinvestment to preserve theirgroup. “Itso that’s forces to organize yourselfadvisto fect commission-based wealth, their you focus for ers whose members most joining the group.” present the facts, which a lot of have people don’t do. And you have to question your own decisions, because you know you’re going to get asked about them in the presentation.” A portfolio defence might sound threatening to a member’s wealth
of their money but in stocks and said that would likely adviser, Nicola bonds. affect commission-based advisers whose “If a client’s got a $10 milmembers have most of their money in lion portfolio and decides to putstocks half in realand estatebonds. or private equity or funds, thatgot ad- a $10 million portfolio “Ifhedge a client’s viser is going to lose half and decides to the put half in real estate or assets, but it wouldn’t be the private equity or hedge funds, that adviser case for a firm like ours, beis we going tothose losekinds half the cause manage of assets.” assets, but it wouldn’t be the case for a firm Of Tiger 21because members’ we manage those kinds liketheours, $10 billion in assets, 30% are of assets.” in equities, 20% are in fixed the 21 members’ $10 billion incomeOf assets andTiger 10% are in cash. e remainder are inare real in equities, 20% are in inThassets, 30% estate (25%),income hedge fundsassets (5%) and 10% are in cash. fixed and private equity funds (10%). The remainder are in real estate ( 25%), That’s a similar asset alloca(5%) and private equity funds tionhedge of the 10 funds million high-networth individuals reported (10%). That’s a in similar asset allocation of thethe 2010 10 Capgemini Merrill million high-net worth individuals Lynch World Wealth Report. reported in the 2010 Capgemini Merrill Last year, high-net-worth Lynchhad World Report. individuals 29% ofWealth their portfolios in equities, in Last year,31% high-net-worth individuals fixed income, 18% inof real estate, had 29% their portfolios in equities, 17% in cash and 6% in alterna31% in fixed income, 18% in real estate, tive investments like hedge 17% in cash and 6% in alternative funds and private equity. Nicola said that if alike grouphedge funds and private investments likeequity. Tiger 21 is drawing a lot of interest in Canada, the fiNicola said that if a group like Tiger 21 nancial industry is failing to drawing lot of interest in Canada, the fill is a need for the a country’s wealthy. financial industry is failing to fill a need for “If got legs and it’swealthy. growtheit’scountry’s ing, it’s because there’s some“If it’s got legs and it’s growing, it’s thing occurring in the finanthere’s cialbecause advisory business that’ssomething occurring in notthe meeting a need or demand financial advisory business that’s not here. meeting a need or demand here. “If people are willing to pay “If people are willing to pay [$30,000 [$30,000 a year] just to get beta year] just get better input on what ter input on what they’retodoing withthey’re their money, that’s awith fail- their money, that’s a doing urefailure of the financial investment of the financial investment industry to objectively provide industry to objectively provide that input that input for them. Otherwise them. Otherwise they wouldn’t be theyfor wouldn’t be looking to this peer-review approach.” looking to thisĄpeer-review approach.”
[email protected]
[email protected]
INANCE
Business in Vancouver September 7-13, 2010
New York’s Tiger 21 investment New York’s Tiger 21 investment team targets growth in Canada team targets growth in Canada
September 7-13, 2010
Issue 1089
)DLUPRQW+RWHO9DQFRXYHU :HVW*HRUJLD6WUHHW
Peer-to-peer learning group for high-net-worth investors to set up head office in Vancouver as it
Peer-to-peer learning group for high-net-worth investors to set up *UHDW'D\IRU%XVLQHVV expands north of the border head office in Vancouver as it expands north of the border
#1 !*$$14-/)(,&/$ )% 01
By Richard Chu
8:15am - 9:30am UFCZ4VF$MFNFOU]4VDDFTT$PBDIJOH
$ (,"-#
1$
By Richard Chu
f you’ve got a spare $10 million or so and want a second opinion on where to invest it, a new peer-to-peer and want a second opinion on wherenetwork to for high-net-worth investors invest it, a new peer-to-peer network for ssion is limited to only 50 attendees. that’s expanding into B.C. and high-net-worth investorsthethat’s expanding rest of Canada might be into B.C. andthe #rest of Canada might be for you. 2,"'$5,-1$/-&/ + (,"- $ New York-based Tiger for you. 1$ Time: 12 noon - 1:30pm 21 organizes formal learning New York-based Tiger 21 organizes ' 13$/5 , #( ,20(,$00$$#01- groups for investors with at formal learning groups for investors ,-4!-21 2""$$#(,&-, "$!--) least $10 million in with investible "MGSFEP5BO]4FOJPS%JSFDUPS 'BDFCPPL$BOBEB at least $10 million in investible assets. assets. Kempner, the Jonathan Kempner, theJonathan organization’s -,%$/$,"$ / #$0'-4 said it plans organization’s president, to create president, groupssaid it plans to create groups in 9:45am - 4:30pm in Vancouver, Calgary, Toronto Vancouver, Calgary, and Toronto ./$,$2/ .-1*(&'1 Montreal, with Canadian operations and Montreal, withbased Canadian *,1$/3($44(1' operations based in VancouVancouver. kus Frind, Founder, in Plenty of Fish ver. 4JN+PIO%FIBSU 'PVOEFST “You likely know our partners very well; $, (+ TF/FYU%PPS “You likely know our partwe haven’t announced them yet, but ners very well; wethey’ll haven’t anbe the ones to organize it. Theythem happen to nounced yet, but they’ll XUPNBSLFUZPVSCVTJOFTTJOUIF /1 $' ', the onesatobig organize it. They OHJOHXPSMEPGNFEJB be based in Vancouver, sobethat’s plus.” OJOHGPS4VDDFTT¬"#VTJOFTT1MBO happen to11 be based in VancouThe organization was founded years ago Works ver, so that’s a big plus.” professional LFUJOHBOE.BTUFSZand was modelled on several The organization was XUP%P#VTJOFTTXJUIUIF learning groups which organizes /)like TEC, founded 11 years ago and was 20/( eral Government ,# modelled on several profesformal learning groups for executives. NPSF sional learning groups like $ Tiger 21’s focus, (,"-# however is on providing TEC, which organizes for 1$ high-net-worth investors a groups monthly malwith learning for exec"$007$14-/)(,& $"$.1(-, opportunity to share investment ideas to utives. 4:30pm - 6:30pm Tiger 21’s focus, however is preserve and -01%2,5-2**' help 3$4'(*$+ )(,&&/$ 1 increase their wealth. on providing high-net-worth The organization has expanded across the $00"-,1 "10 investors with a monthly opDUXJUICVTJOFTTQSPGFTTJPOBMT FYFDVUJWFT U.S. to include 140 members in 12 groups portunity to share investment trepreneurs. Complimentary appies, San Diego, ideas to help preserve and inmplimentary drinkin andNew York, Miami, Dallas 1$ Francisco. $ San crease their wealth. The organ# SBXQSJ[FT Los$"Angeles and " (, * ( e/van .The ization has expanded soho.ca/sm Canadian groups of 10 across to register atfourFnew TPIP#*7 the U.S. to include 140 memPE OD QJ S FOUF 14 people will have a membership cap of 56 bers in 12 groups in New York, nationally and will likelyMiami, beginDallas meeting inLos San Diego, Angeles and San Francisco. 2011’s first quarter. Theof four new Canadian Kempner noted that most Tiger 21’s groups of 10 to 14 people will membership includeshave amain street membership cap of 56 entrepreneurs who acquired their nationally and willwealth likely begin meeting in 2011’s firstwho quarter. VFTUJOGPSNBUJPOPOIPXUPCFDPNFBO from selling their businesses and some PSDBMMVTBUFYUPSFNBJMVT Kempner noted that most made their money in the financial services
I
PTUQPQVMBSJOUFSBDUJWFOFUXPSLJOHGPSNBU FMBUJPOTIJQT NBLFOFXDPOUBDUT HFOFSBUF f you’ve got a s and leads.
[email protected]
I spare $10 million or so
sector. The average member has between $50 million and $60 million in investable assets, and less than 20% still work for a 6LJQDWXUH3DUWQHUV living. “Most members have sold their business or moved on or retired early because they
3ODWLQXP3DUWQHUV
Breakdown of high-net-worth assets in 2009 Alternative investments (6%) Equities (29%)
Real estate (incl. REITs) (18%)
Cash (17%)
Fixed income (31%) SOURCE: CAPGEMINI MERRILL LYNCH WEALTH MANAGEMENT 2010 WORLD WEALTH REPORT
While each a group of local achieved certain members has exclusive access level of financial to key experts in the financial security,” Kempner and investment communsaid. “Some don’t ity, the core of the eight-hour monthly meeting is a porthave experience folio defence chaired by a proon how to preserve fessional facilitator, in which their wealth, so members present their investthat’s their for focus ment portfolios groupfor critique. joining the group.” Kempner said members Tiger 21 president While each group question the asset allocation Tiger 21 president Jonathan Jonathan Kempner: of local members and diversification a preKempner: “you likely know our “you likely know our has exclusive ofaccess senter’s portfolio and share partners very very well” well” partners insights what investments to key on experts in the of Tiger 21’s membership in- they should and shouldn’t financial and investment community, the cludes main street entrepre- make. core of eight-hour meeting is a John Nicola of Nicola neurs whothe acquired their monthly portfolio defence chaired by Management a professional Wealth was wealth from selling their busigenerally positive about such nesses and some mademembers facilitator, inwho which present their their money in the financial- an investment group. investment portfolios for group critique. “It forces you to organize services sector. The average Kempner said$50 milmembers question the yourself to present the facts, member has between asset allocation and which diversification a a lot of peopleof don’t lion and $60 million in investAnd share you have insights to question able assets, and lessportfolio than 20% do. presenter’s and own decisions, because still work for a living. on what investmentsyour they should and “Most members have sold you know you’re going to get shouldn’t their business or moved on asked about them in the presmake. or retired early because they entation.” might achieved aJohn certain level of fi- ofA portfolio Nicola Nicoladefence Wealth nancial security,” Kempner sound threatening to a memManagement was generally positive about said. “Some don’t have experi- ber’s wealth adviser, but Nicsuch ola said that would likely afence on an howinvestment to preserve theirgroup. “Itso that’s forces to organize yourselfadvisto fect commission-based wealth, their you focus for ers whose members most joining the group.” present the facts, which a lot of have people don’t do. And you have to question your own decisions, because you know you’re going to get asked about them in the presentation.” A portfolio defence might sound threatening to a member’s wealth
of their money but in stocks and said that would likely adviser, Nicola bonds. affect commission-based advisers whose “If a client’s got a $10 milmembers have most of their money in lion portfolio and decides to putstocks half in realand estatebonds. or private equity or funds, thatgot ad- a $10 million portfolio “Ifhedge a client’s viser is going to lose half and decides to the put half in real estate or assets, but it wouldn’t be the private equity or hedge funds, that adviser case for a firm like ours, beis we going tothose losekinds half the cause manage of assets.” assets, but it wouldn’t be the case for a firm Of Tiger 21because members’ we manage those kinds liketheours, $10 billion in assets, 30% are of assets.” in equities, 20% are in fixed the 21 members’ $10 billion incomeOf assets andTiger 10% are in cash. e remainder are inare real in equities, 20% are in inThassets, 30% estate (25%),income hedge fundsassets (5%) and 10% are in cash. fixed and private equity funds (10%). The remainder are in real estate ( 25%), That’s a similar asset alloca(5%) and private equity funds tionhedge of the 10 funds million high-networth individuals reported (10%). That’s a in similar asset allocation of thethe 2010 10 Capgemini Merrill million high-net worth individuals Lynch World Wealth Report. reported in the 2010 Capgemini Merrill Last year, high-net-worth Lynchhad World Report. individuals 29% ofWealth their portfolios in equities, in Last year,31% high-net-worth individuals fixed income, 18% inof real estate, had 29% their portfolios in equities, 17% in cash and 6% in alterna31% in fixed income, 18% in real estate, tive investments like hedge 17% in cash and 6% in alternative funds and private equity. Nicola said that if alike grouphedge funds and private investments likeequity. Tiger 21 is drawing a lot of interest in Canada, the fiNicola said that if a group like Tiger 21 nancial industry is failing to drawing lot of interest in Canada, the fill is a need for the a country’s wealthy. financial industry is failing to fill a need for “If got legs and it’swealthy. growtheit’scountry’s ing, it’s because there’s some“If it’s got legs and it’s growing, it’s thing occurring in the finanthere’s cialbecause advisory business that’ssomething occurring in notthe meeting a need or demand financial advisory business that’s not here. meeting a need or demand here. “If people are willing to pay “If people are willing to pay [$30,000 [$30,000 a year] just to get beta year] just get better input on what ter input on what they’retodoing withthey’re their money, that’s awith fail- their money, that’s a doing urefailure of the financial investment of the financial investment industry to objectively provide industry to objectively provide that input that input for them. Otherwise them. Otherwise they wouldn’t be theyfor wouldn’t be looking to this peer-review approach.” looking to thisĄpeer-review approach.”
[email protected]
[email protected]
