An Introduction - Spartan Fund Management Inc.

An
Introduction
“Meet the Wealthiest, Most Powerful Social Networking Group
In The World.”
- Forbes January 7, 2014
2 / 36
TIGER 21 Goals
• We seek to provide group experiences that will inform and
educate Members about key issues, and which will help
them tackle the challenges they face.
• Our Members’ time is their most important asset, and we
want to design experiences that honor the extraordinary value
of their time.
• We also want to find ways to tap into our Members’ collective
buying power to generate direct economic benefits for each
and every Member.
3 / 36
TIGER 21 – Quick Facts
•
•
•
•
•
•
•
•
•
•
•
•
•
“The Investment Group for Enhanced Results in the 21st Century”
Minimum net worth of Member is 10+ million
15th year of operations
Over 255 Members in North America
25 billion in assets under management
23 Groups in the US and Canada
10-20 Members per group
Each group meets 9 times per year for one afternoon / evening per
month
Total confidentiality of all content and interaction
environment
Meetings include a mix of facilitated dialogue and outside presentations
Beyond meetings: field trips, annual conference, social gatherings,
monthly conference calls
Annual membership fee = $30,000 USD
Group Chairs plans and manages each meeting
4 / 36
5 Main Unique Traits of our Members
1 Super busy / Enjoy traveling
2 Very private – Like to “fly below the radar” in regards to their wealth
3 Very successful in the past / present
•
Have an interesting life / business story to share
4 Consider themselves “life-long learners” and intellectually curious
•
Looking for learning and investment opportunities
5 Like to be “connected” and enjoy networking
5 / 36
TIGER 21 Across North America
Calgary - 2011
Chicago - 2014
Vancouver - 2011
Toronto - 2011
Seattle - 2014
Montreal - 2011
San Francisco - 2006
Los Angeles - 2007
NewYork City - 1999
Washington, DC - 2010
Atlanta - 2014
Palm Beach- 2013
San Diego - 2007
Miami - 2007
Dallas - 2007
6 / 36
TIGER 21 – At a Glance
Our Members are active and passive investors of
significant wealth and represent a mix of past and
present entrepreneurs, personal family stewards of
wealth, inheritors and current and past leaders of
large and small businesses across North America.
7 / 36
TIGER 21 – At a Glance
Member Ages
2%
Age Details



Member ages
vary significantly
From 28 to 82
The average
Member age is
55
4%
17%
18%
25-35
36-45
46-55
56-65
30%
29%
66-75
76 year or older
8 / 36
TIGER 21 – At a Glance
Member Employment
21%
Employment Details

53%
26%
Retired
Semi-retired
Almost 80% of
Members are
employed /
engaged in some
capacity
Fully employed
9 / 36
Value of Membership
TIGER 21 is generally recognized as the:
Premier Network of Confidential Learning Groups for
High Net Worth Investors
We believe the value of membership centers on
•
•
•
•
•
•
Unlocking the transformative power of wealth
Navigating uncertainty to chart a path through life’s transitions
Exposure to a rich landscape of ideas & opportunities
Peer-to-peer dialogue and unique learning experiences
Improved decision making about investing money, energy and time
Access to significant value and benefits through collective economic
influence
10 / 36
Key Words and Themes
11 / 36
The Member Experience
• Collective Intelligence® -­‐ Share market insights and related issues to
discuss how others are allocating assets in response to market
conditions
• Peer Community – Build trusted relationships with others who have dealt
with similar issues
• Risk Management – Identify and reduce portfolio risk to preserve wealth
• Investments – Meet innovative asset managers, share strategies and deal
flow, and access favorable investments
• Legacy – Integrate timely opportunities in estate planning and
philanthropy into a long-­‐term plan
12 / 36
Who Becomes a Member?
•
Informed and engaged investors/overseers of significant wealth ($25+ B)
 D-­‐I-­‐Y investors interested in preserving and growing wealth
 Out-sourcers who want to be informed clients
•
Unique mix of business experience and industry acumen
 Past and Present Entrepreneurs
 Personal Family Stewards of Wealth
 Inheritors
 Business executives: Current and past leaders of large and small businesses
•
•
•
Member personal wealth ranges from $10 MM to $1 B
•
70% of Member’s between 20M-100M
Age 30-80+ range. Most are between 40 and 70 years old
Gender: 85+ % male but growing female participation
13 / 36
Member Benefits
Top Questions & Answers to 2014 TIGER 21 Canadian Member Feedback Questionnaire*
The top 3 reasons why I joined TIGER 21 are:
“Gain exposure to a variety of investment discussions and dialogue”
“To get practical ideas on how to set up family succession”
“To network and mingle with people in similar wealth and phase-of-life situations”
The top 3 things I want to gain from my TIGER 21 Membership this next year are:
“Learn how to invest and increase investment returns”
“Have more/deeper level of engagement/discussion with fellow Members”
“Gain a broader world vision and continue to learn from this comprehensive experience”
Please name the top 3 items that you have enjoyed the most about your TIGER 21
Membership/ Network so far:
“Networking and camaraderie”
“Annual conference and other special events with my spouse and adult children”
“Portfolio Defences”
14 / 36
A Day at TIGER 21: Powerful Conversations
Sample Agenda:
11:45 am: Members Arrive
12:00 pm: Welcome by the Chair, Agenda Review and
Presenter Backgrounds, Guest Introductions, Global Market Update
12:15 pm: Lunch
1:00 pm: My World Update – 4 Questions
1:45 pm: External Presentation
2:45 pm: Member Debrief
3:00 pm: Break
3:15 pm: Portfolio Defence
4:30 pm: Break
4:45 pm: Internal Presentation
6:00 pm: Issues & Opportunities
7:00 pm: Adjourn
15 / 36
A Day at TIGER 21
•
•
•
•
Monthly meetings run from 11:45 AM – 7:00 PM*
World Update (60-90 Min.)
Issues & Opportunities – facilitated discussion (60-90 Min.)
Outside speakers – one or two per meeting
 20-­‐min presentation, 20-­‐min. Q&A, 20-­‐min. facilitated debrief
 Landscape versus Investment Opportunity focus
•
Portfolio Defense
 Qualitative, Quantitative, Estate, Philanthropic, Life Defence and Your Story
 Financial DNA
 One per meeting
 Annual cycle for each member
 75-90 min. presentation, discussion and feedback
 Full disclosure and “care-­‐frontation”
 Group Chair coaches member in preparation starting 2 months in advance
•
Facilitated debrief of learning, themes and follow-­‐up from the day
* except Vancouver which meets from 10:45AM – 6:00 PM
16 / 36
World Update
• Changes since last month?
•
•
Next 3 to 6 months?
 Buying, selling?
 Decisions, options you’re exploring?
 Asset allocation?
 Changes you need to make?
 Under consideration?
 Questions to answer?
 Due Diligence?
 What do you want to learn?
Currently working on?
 What’s keeping you up at night?
 Wealth planning, estate planning?
 Advisor changes?
 Philanthropy?
 Family discussions, governance?
17 / 36
What do Members Discuss? Issues & Opportunities
• Family and Interpersonal Issues





Friends/family in financial distress – How to help them?
Raising financially –literate kids
Family governance, family meetings
Leaving a legacy and effective philanthropy
Personal goals and “bucket list” – Happiness
• Legal issues and concerns
 Estate taxes. How do I protect my wealth?
 Inter-­‐generational wealth transfer
• Political Scene
 Tax increases on the wealthy
 Impact of low-­‐interest rates and budget deficits on the economy
• Society and Cultural Trends
 Impact of the media, separating “signal” from “noise”
 Information overload, “data fog,” trustworthy information sources?
18 / 36
Issues & Opportunities (continued)
• Economic Situation and Expectations




Deflation, inflation or stagflation?
Impact of unemployment, interest rates, government cuts?
Housing market – real estate climate and opportunities?
What lessons have I learned this month, this year, during my lifetime?
• Investment Climate and Strategies








Proper asset allocation for the future? How much cash to hold?
Gold and other commodities – buy, sell, hold?
Currency diversification?
Where do I find more yield? How much risk should I be taking?
Hedge funds – Invest vs. divest? Which ones should I look at?
Private equity – Is it time to go back in? What about locking money up?
Investment objectives – preservation, growth, not outliving one’s assets?
Investment management – Do it myself? Hire a professional? Who?
19 / 36
Portfolio Defense: “Care-frontation” In Action
• Annual presentation made by each
Member to his/her TIGER 21 group
 Philanthropy
“The word ‘wealthy’ has its
roots in ‘well-being’ and is
meant to connote not only
large amounts of money but
also a rich and satisfying
life.”
 Goals and Vision (Personal and Family)
-­‐LynneTwist*
 Investment Performance
 Estate Plan
 Family Dynamics and Relationships
 Life Defence
 Your Story
 Discussion and Feedback: Blind spots, Unintended
Consequences, Biases, Self-­‐Deception and Denial, Ideas,
Support, Encouragement
* Source: Living Richly: Seizing the Potential of Inherited Wealth, Myra Salzer
20 / 36
TIGER 21 Research Asset Allocation Survey
• Member’s allocation to cash and cash equivalents remains at historic lows
for TIGER 21 Members.
• Public equities has remained in the 23-24% range for the past five quarters.
• At 19% private equity remains in favor with Members and well above its
median allocation of 12%.
•
Private equity investments have always been
a favorite of our Members. Members are
increasingly making direct investments.
• Real estate and private equity combined make up
40% of the average Member's portfolio. This is
reflective of Members having professional
experience in these sectors and feeling comfortable in these investments. Because a high
percentage of our Members created their wealth
by building private companies, we believe the
findings indicate that members are going back to
"what they know best."
21 / 36
TIGER 21 Research Member Favorites Survey
• The favorite equity picks, in order of importance, include:
• Berkshire Hathaway Inc.
• Apple Inc.
• iShares MSCI EAFE Index Fund ETF
• QUALCOMM, Inc.
• SPDR S&P 500 ETF
• Wells Fargo
• Anheuser Busch Inbev SA
• Bank of America Corporation
• At least 69% of the Members will utilize an advisor at some
point
22 / 36
Some of the world’s most well known thought leaders and investors
have presented to TIGER 21 Groups, to mention a few:
•
•
•
•
•
•
George Soros
Michael Bloomberg
Nouriel Roubini
Israel Englander
Carl Icahn
Mohamed El-Erian
•
•
•
•
•
•
Burton Malkiel
T. Boone Pickens
Paul O’Neill
Cal Ripken Jr.
George Roberts
Sam Zell
23 / 36
• TIGER 21: Meet the Wealthiest, Most Powerful Social
Networking Group In The World
- Forbes January 7, 2014
24 / 36
TIGER 21 in the Press
• TIGER 21 has become synonymous
with intelligent investing and is
looked to as a barometer on
investing and asset allocation.
• Bloomberg published a story on our Member
Favorites Survey, which the day it was published
was the second most popular story.
• In a NewYork Times article, Buffett was asked
how he felt about TIGER 21 choosing Berkshire
Hathaway as a top stock pick.
• The TIGER 21 experience centers
on improving Members’
investment acumen through
sharing among peers, as well as
exploring issues of wealth
preservation, estate planning and
family dynamics.
Q.You’re a contrarian investor. OnTuesday,
we hadTiger 21, a group of American and
Canadian multimillionaire investors, choosing
Berkshire Hathaway as their top pick,
displacing Apple.To use your own famous
phrase, should other investors be fearful as
these buyers get greedy?
Warren Buffett :The way to look at Berkshire is
trying to figure out what our businesses are worth
today and whether the money we reinvest will be
reinvested reasonably intelligently. I try to give a
lot of information in the annual report to enable
our shareholders to make a reasonable estimate
of what intrinsic value is. If you buy Berkshire at or
below its intrinsic business value, I think you’ll do
reasonably well over time because I think the
money we reinvest will be compounded fairly
intelligently.Therefore, if you don’t overpay going
in, you’re likely to do O.K. It’s never going to be
the stock of the year. From this size, it cannot
compound at a terrific rate of return. It’s simply
out of the question. I think it can compound at a
reasonable rate of return.
• Barron's PENTA Daily magazine featured a new
part of our program – The Philanthropic Defense.
25 / 36
TIGER 21 has been featured in over 200 articles and over 75 publications, including:
26 / 36
TIGER 21 Member Website
Password protected - Member Login
Economic and geopolitical opinions and information
Investment Opportunities
Venture Capital and Private Equity Deal Flow
Personal Issues - Health, Entertainment, Travel
www.tiger21.com
27 / 36
Member Benefits - Magnolia
Magnolia's vision is to become a trusted Purchasing Advisor
for families of exceptional wealth on purchases within our six
main practice areas.
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 &
Rentals
28 / 36
Member Testimonials
“I told myself in joining that if TIGER 21 could provide me with one investment
insight a year, it would pay for itself. I'm already years ahead. This has become the
place for me to exchange money-making ideas. Our group meetings have an
atmosphere of openness and camaraderie, very conducive to honest analysis and
revealing dialogue. I have no hesitation saying that my day in New York with
TIGER 21 is now my favorite day of the month”.
- Private Investor
• “TIGER 21 has given me access to people and perspectives I would never find on
my own, helped me better understand the complexities of managing wealth, and
kept me out of financial trouble. I find our confidential discussions about personal
issues and money to be the most valuable and rewarding part of my TIGER 21
experience”.
- Real Estate Investor
• “The value of TIGER 21 lies in the opportunity to learn how to create a disciplined
approach to all elements of your investment plan. TIGER 21 Members are
extremely generous in sharing their personal and professional stories, ideas, and
feedback”.
- Restaurant Entrepreneur
•
29 / 36
TIGER 21 FAQs
•
•
•
•
•
•
•
•
•
Why are you here?
What does "TIGER 21" mean?
What is it?
Why was it created?
What's unique about it?
Where are members & groups?
Who joins?
Why join?
What is the value of
membership?
• What are the 5 main, unique
traits of our members?
• What do they pay to belong?
• What happens during a group
meeting?
• What happens outside the
meeting?
• Could some of your members
be potential clients for our
firm?
• Could some of our clients be
potential TIGER 21 members?
• How might we work
together?
• What is the process for a guest
candidate to attend a TIGER 21
meeting?
• What is the vetting process to
become a new Member?
30 / 36
The Guest Candidate Checklist
Following are the requirements for a guest candidate to attend a TIGER 21
meeting:
•
•
•
•
•
•
•
A signed and witnessed Non Disclosure Agreement (NDA)
A Bio
A copy of their Drivers License
A Meeting Prep Call with the Canadian Director of Membership
TIGER 21 Introduction Deck sent to them after the Meeting Prep Call
Meeting details sent to them a week before
The 4 questions for World Update sent to them before the meeting so
they will be prepared to be fully engaged
31 / 36
TIGER 21’s Vetting Process for a New Member
•
A TIGER 21 Meeting Prep Call with the Canadian Director of Membership followed by an
"Introduction to TIGER 21" information deck sent to them.
•
After attending a TIGER 21 meeting as a Guest Candidate, a follow up call with the Canadian
Managing Director of TIGER 21 to discuss their experience.
•
Assuming there is a "mutual fit", the candidate would complete the Member vetting process of
submitting 4 character references (including one who can verify verbally / and via a confidential
email/letter the minimum $10 Million net worth requirement), a second piece of ID, a
Background Check, and a TIGER 21 Membership Agreement.
•
The Canadian Director of Membership contacts all character references, and the online
Background Check form is submitted.
•
Once the above is completed, and Members confirm their approval, an official invitation to
join their respective T21 group is extended. Once accepted, a Membership Invoice is sent to
the new Member to wire payment.
•
Once payment is received, the Managing Director sends out a "Welcome to the Group"
email to the new Member and the existing Group Members, to officially welcome them in
and to connect them into the Group so that they can begin connecting/reaching out at
their convenience, to get to know their fellow TIGER 21 Group Members better to build
confidential relationships.
•
Orientation of the Member's Only, password protected website, and Online
Forum to explore the resources there.
32 / 36
TIGER 21 Canada Chair / Co-Chairs Contact
Founding Member
/ Managing
Chair
Director
Alberta
Thane.Stenner@
TIGER21.com
Jennifer.Fuhr@
TIGER21.com
Chair
Montreal
John.Koloda@
TIGER21.com
Co-Chairs
Toronto
Leon.Goren@
TIGER21.com
NTrainor@
TIGER21.com
Co-Chairs
Vancouver
Ben.Slager@
Roxana.
TIGER21.com Colquhoun@
TIGER21.com
Managing Director (Founding Member):
Thane Stenner
Chairs:
Alberta - Jennifer Fuhr
Montreal - John Koloda
Toronto - Leon Goren, Norm Trainor
Vancouver - Ben Slager, Roxana Colquhoun
33 / 36
TIGER 21 Links
• A short TIGER 21 Video | Link
• Forbes - TIGER 21: Meet the Wealthiest, Most Powerful Social Networking
Group in the World | Link
• NY Times - Looking for Ways to Keep Money From Dividing a Family
• TIGER 21: Tough Love For the Very Rich
• Why I Joined TIGER 21 | Link
• The Benefits of TIGER 21
| Link
| Link
| Link
34 / 36
THANKS FOR YOUR TIME
Questions?
35 / 36
Thane Stenner,
CIM ® , FCSI
Managing Director, Canada
Canadian Founding Member
[email protected]
Thane Stenner, Founding Member and Managing director of TIGER 21 Canada, is the Founder of Stenner
Investment Partners, a leading multi-family office within Richardson GMP Limited, a firm with $26 Billion in client
assets under management as of December 31, 2013. He is a Director, Wealth Management and Portfolio Manager
based in Vancouver, British Columbia, Canada.
Thane has almost 25 years of experience in successfully advising ultra high net worth families, entrepreneurs, as
well as corporate and philanthropic entities across Canada. Prior to joining Richardson GMP Limited, Thane
previously held roles as First Vice President with CIBC World Markets, and Director of Merrill Lynch International
Private Client Group.
In addition to graduating with an Honours degree in Finance and a specialization in Investment Analysis and
Portfolio Management from Arizona State University, Thane attended the Harvard Business School’s Executive
Program. He is a Portfolio Manager and holds the Chartered Investment Manager (CIM®) designation. He has also
earned the designation of Fellow of the Canadian Securities Institute (FCSI) – the highest designation within the
Canadian investment industry.
Thane Stenner received the 2012 Five Star Wealth Manager Award, an award given to less than 2 percent of the
wealth managers in the Vancouver area, and was featured in Business in Vancouver and Vancouver magazine.
Richardson GMP is the first wealth management firm in Canada to earn Centre for Fiduciary Excellence
Certification as an Investment Advisory Firm.
Throughout his career, Thane has been active in his community as a member of professional associations and
charitable organizations including the YMCA, UBC Business Families Centre’s Professional Advisory Committee,
and the BC Children’s Hospital Foundation. Thane is an active philanthropist supporting organizations such as
Imagine1Day, Homes of Hope and others. Thane is the author of the national bestseller True Wealth: An expert
guide for high net worth individuals (and their advisors). He is frequently quoted in a variety of publications
including Bloomberg, CNBC, The Wall Street Journal, The Oriental Daily, and The Financial Post in addition to
writing an exclusive high net worth column for Globe & Mail and Report on Business. Thane enjoys spending time
with his three children, travel, golf, fishing, hockey, and various charitable initiatives.
What was your most moving moment you
experienced during a TIGER 21 meeting?
Doing my first Portfolio Defense. The input
from each fellow Member of my Group was
extremely insightful based upon their own
personal and entrepreneurial experiences.
Best lesson learned from a TIGER 21
Member? Many lessons. Too difficult to
say only one. If I had to pick one though,
I recall one Member giving me some
incredible estate planning insights that had
a major impact on how I have evolved my
own thinking.
Most common insights that TIGER
21 Members ask fellow Members
to share? Insights around their kids
wealth succession issues, and avoiding
“affluenza”. How to raise responsible,
contributing adult children born within an
affluent family is always a challenge.
What do you enjoy most about being
Canadian Managing Director at TIGER
21? Interacting with so many successful
Members. The “Collective Intelligence” of
the TIGER 21 network is stimulating and
humbling at the same time.
What is your greatest challenge in
participating in TIGER 21 Group meetings?
Making sure I am making an intelligent
contribution at each meeting and being a
good listener.
What do you value most about your TIGER
21 experience? The significant amount
of experience, knowledge and care from
fellow members. It is a rich learning
environment.
36 / 36