American Millionaire’s Club coming to Canada

The problems of the rich: millionaires say it’s difficult to get good financial advice because professional financial planners are often not motivated enough to offer dissenting viewpoints about the investment decisions of very rich clients. So an American group of investors with at least $10-million in the bank have been meeting since 1999 to get around this problem. Now, Tiger 21 is coming to Canada. The group said it plans to open four Canadian clubs (Vancouver, Calgary, Toronto and Montreal) and is searching for 56 members willing to pay $30,000 a year in membership fees. In return, members get to attend monthly meetings with portfolio critiques and guest speakers. Membership will be exclusive, as there is a lot of competition in Canada: more than 30,000 Canadians have more than $10-million in assets.

Globe and Mail