Some of Canada’s wealthiest residents will soon have access to a new source of investment advice, as TIGER 21 LLC — the ultra-high net-worth, peer-to-peer, learning network — expands into the Canadian market.

New York-based TIGER 21, whose name is an acronym for “the Investment Group for Enhanced Returns in the 21st Century,” is recruiting members to join its first four Canadian chapters in Vancouver, Calgary, Toronto and Montreal, which will meet for the first time next spring. In the U.S., TIGER 21 has 140 members in seven cities.

The purpose of the organization, which charges an annual membership fee of US$30,000, is to help its UHNW members become disciplined managers of wealth.

“TIGER 21’s specific focus is on helping members be good stewards, or being CEOs of their investment capital,” says Thane Stenner, managing director of TIGER 21 Canada, director of wealth management with Toronto-based Richardson GMP Ltd. and founder of Vancouver-based Stenner Investment Partners, a private investment group within Richardson GMP.

In order to join, TIGER 21 members must have at least $10 million in investible assets, excluding business interests and real estate holdings. Each group is limited to 14 members, who congregate at full-day, professionally facilitated meetings once a month. At the meetings, members exchange investment ideas, share personal experiences and hear from high-profile money managers, financial advisors, analysts and other wealth-management experts.

Topics of discussion include investment strategies, philanthropy, estate planning, tax planning and various other topics relevant to members.

“There are different challenges that a lot of wealth brings,” Stenner explains. “[TIGER 21 is] a safe-harbour place where [members] can discuss the dilemmas and the challenges they’re facing.”

TIGER 21 members also rely on one another for advice and guidance. For example, members take turns engaging in portfolio reviews, presenting their personal financial holdings to the group once a year — in complete confidentiality — for feedback and criticism.

Similar to an annual portfolio review, this process helps members recognize and eliminate redundancies in their portfolios and forces them to revisit their asset-allocation strategies regularly.

Although this type of peer-to-peer advice is a critical aspect of TIGER 21, the group does not aim to substitute for financial advisors. Rather, Stenner says, TIGER 21 complements the role an advisor plays in the management of a member’s financial affairs.

Indeed, most members of TIGER 21 have their own financial advi-sors and value their advice, Stenner says. But these UHNW individuals tend to play a more active role in managing their wealth than most investors, using an advisor as only one of several resources.

As well, the financial crisis has prompted many UHNW individuals to take even greater control of their finances. Stenner believes that this has added to the appeal of TIGER 21: “They’re going to keep closer to their money. This is a great way for them to do it.”

TIGER 21 has seen plenty of interest in Canada. It has received almost 100 inquiries from prospective members thus far — substantially exceeding the 56 spots it can accommodate. After the first year of operation, TIGER 21 Canada will consider establishing additional groups, but total membership will be capped at just 112.

The challenge, Stenner says, is ensuring each group is diverse: “You want to make sure there’s various parties with various backgrounds. In a peer-to-peer group like this, that’s really where the richness of the learning experience takes place.” IE