Tiger 21 has expanded its core curriculum for high net-worth members, building on its highly successful peer review and assessment Portfolio Defense model.
Last week, the organization introduced new defenses for estate planning, philanthropy, business evaluation and risk management, based on the same principles that informed the original investment Portfolio Defense — that candid feedback from peers can provide insights and understanding they rarely, if ever, receive from paid advisors.
Tiger 21 comprises some 200 investors across North America who pay a hefty $30,000 in annual dues. The group’s members have investable assets totaling more than $18 billion.
In a statement, the group said its Portfolio Defense had become a major part of the membership experience, prompting it to register “Portfolio Defense” as a trademark in 2009.
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During the Portfolio Defense session, one member presents his or her personal balance sheet, income statement and financial goals in context with larger life events for review and analysis by the group’s members. The group gives advice based on their knowledge of the presenting member’s likes and propensities, which is built through regular contact and discussion of issues with one another.
While the Portfolio Defense on investments is mandatory, the new defenses are being phased in and are elective, the statement said. They were established as a result of expressed member interest.
“Discussions on estate planning, philanthropy, the assessment of business plans and protecting members from risks have frequently been a part of Tiger 21 meetings, whether through a specific presentation by an outside speaker or through general discussion among our members,” Michael Sonnenfeldt, the group’s founder and chairman, said in the statement.