How do the genuinely wealthy find each other when everyone wears Prada these days? Not easily. Buffeted by a storm of information, plagued by commission-hunting locusts and often isolated geographically, their peer networks have never been more fragile.
Doug Regan, who as president of the special wealth management unit of Northern Trust advises dozens of America's richest families, defines Ultra High Net Worths (UHNW) as those individuals and families with more than $100m (€68m) of net assets. Regan observes tremendous demand for peer networking events where all the wannabes and sharks are kept out. Once together in a private setting, the seriously rich are "astonishingly candid witheach other" he says.
Apparently, they're also phenomenally competitive and much, much more open about discussing wealth than they used to be. "The founding generation did not talk about wealth, but today children can Google their parents."
One recent networking event put on by Northern Trust, titled Inspiring Human Capital, helped families discuss what wealth means. The collective answer? "If you are UHNW you have the privilege of living out your values."
Defining those values is trickier, but philanthropy is the hottest ticket these days, "the new competitive sphere for UHNW families", says Regan.
Right on cue is a new company offering peer networking and philanthropy in one shot. Called Everlands, co-founder Bob Burch speaks of his childhood dream of packing a six shooter and riding as a cowboy across the American plains. Today he is living his dreams by acquiring 45 must-have retreats and hunting lodges all over the world and offering them as a fractional investment to rich individuals ''selfselecting – in light of core values of love of nature, family values and conservation."
It goes without saying that they are also self-selecting in terms of wealth. Burch has invested €17m of his own money plus an additional €680,000 towards a conservation endowment. The Everlands business model envisages a total membership of 1,800 by 2012, rewarding each of 20 founder members with a projected return on investment of 48%. For regular members, who will pay a third to two-thirds of a million euros plus annual dues of €27,000, the investment angle is less obvious although conceivably memberships could one day be traded at a profit.



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