Frequently Asked Questions
Q Is this really a not-for-profit group, or are you planning to turn commercial and charge fees for "Premium membership" or some such reason in the future?
A Peers is truly not-for-profit. There is no commercial game plan. The founder created two other groups, one in Belgium in the nineties and one in the Philippines more recently; they both stayed the non-profit course.
Q I assume you have expenses, who pays for them?
A Peers operates on a low cost basis and keeps it simple, but some expenses are unavoidable: office, advertising, mailing, staff and catering expenses for instance. Peers was initially funded through a loan from a trust related to the founder. Without losing its independence Peers encourages corporate sponsorships to eventually break even, but remains independent of all sponsors.
Q If Peers ever gets into positive territory, financially speaking, what are you going to do with the money?
A Expand member services.
Q If this is a truly not-for profit group, what is in it for the founder?
A Organizing a group like this is a "useful hobby". Wealth management is at the very centre of my interests. My personal goal is to manage wealth well, but at the same time organize, delegate and outsource as much as is possible to have time for other pursuits, without losing control or oversight. Previous experience has shown that a lot of potential can be developed better in a group like Peers than individually.
Q How can I be sure that Peers will not sell my membership data to some other organisation that will exploit the data commercially?
A It is a firm policy not to give out any individual membership details. Frankly there is little interest. Why? Consider this: Wealth Monitor, a subsidiary of the Financial Times, gathers data about every one they can find in Europe and the USA who had a liquidity event in the last years. Those data get sold, containing the names, addresses, and phone numbers and email addresses of thousands of people for only a few thousand pounds. Who would pay anything for a few dozen addresses? It does not make commercial sense.
Q Why would I want to talk about my money?
A There is no need. The topic is not your money, but wealth management in general. There is no need to discuss private situations.
Q Are all Peers members sophisticated investors?
A We have ex-bankers up to the level of Head of a National Bank, lawyers, economists, a former Prime Minister, successful ex fund managers, etc. but the majority are entrepreneurs who may or may not have sold (part of) their companies. Many of them are quite new to wealth management and members at all levels of sophistication are welcome. Peers meetings do not have a competitive edge to them. We meet to make contacts, exchange information and combine our buying power. The modus operandi is one of informality and cooperation.
Q Is there a dress code?
A Your safest bet is business attire; however there can be occasions where something less or more formal is appropriate.