4 QUESTIONS FOR LEADERS OF CHARLOTTE’S NEW INVESTOR NETWORK
There is now a network for high-net-worth investors to join in the Queen City.
Tiger 21announced this week it has entered North Carolina- market No. 23 for the exclusive network. More than 400 investors who collectively manage over $40 billion in personal assets around the U.S. and Canada are part of New York-based TIGER 21.
They come together once a month in each market for day-long meetings to talk confidentially about challenges and best practices in wealth management.
Chris Cecil, president of the Biltmore Family Office, will now chair the network’s Charlotte group. In that role, he will lead the monthly meetings and oversee membership, which he hopes to grow to 15 people by the end of the year.
“The key is the meetings are completely confidential,” Cecil told me. “It creates a forum to have candid discussions and to build a lot of peer-to-peer relationships. There is a real need for that.”
I caught up with Cecil and Barbara Goodstein, president and CEO of TIGER21 Holdings, to learn more about how the group will function in Charlotte. Here are takeaways from that conversation, edited for brevity and clarity:
How did you first learn about TIGER 21?
Cecil: I first heard of TIGER 21 about a decade ago. Having worked in the investment management business for about 30 years, I had worked with clients who were members. I investigated and found it was a group of entrepreneurs, retired CEOs, business owners and sellers who had gotten together in New York City to form a unique, peer-to-peer networking group to discuss issues around wealth, education and governance.
It was a highly confidential group where members could ask questions and share knowledge. At the time, I thought of joining, but the issue was the meetings were in New York and met monthly. I saw the enormous value to its members. Long story short, 10 years later I heard they were interested in moving to Charlotte. They reached out, and we became reacquainted.
Why is this group an important addition to Charlotte’s business community?
Cecil: Being a North Carolina native, I grew up and lived in North Carolina. I’ve seen enormous growth in the state. It’s become a hub of innovation. A lot of very successful entrepreneurship along with education and overall business success – I think it’s a natural fit for TIGER 21. More importantly, I think North Carolina members will have a lot to learn from the broader network.
Goodstein: There is a lot of wealth in Charlotte, and we are looking at areas of opportunity where many successful entrepreneurs, wealth creators and business owners are. We had gotten calls and inquiries from in and around Charlotte on our website. It was pretty clear this was a good state for us to be in.
How do members interact with the larger network?
Goodstein: Everybody at TIGER gets access to same information on the website. We hold conference calls. For example, we had one last August when things in China were moving. We also have headliner events that people can participate in, and we have an annual conference. Last year it attracted over 600 members.
What do the all-day meetings look like?
Goodstein: The day goes quickly. We bring in two outside presenters during the day. Topics can range from investment opportunities, how to sleep better, cancer experts, how to buy a sports team, how to invest in Broadway – the range of topics is wide and deep. Then we cover what’s been going on for all the members over the past month. One of the distinguishing features is a member presents their portfolio to get feedback. This is like having your own internal board of directors. That has been described as one of most transformative parts of the meeting each month.