An entrepreneur has launched Toronto-based InvesTank 888, an online wealth network in Canada, with the goal of arming affluent investors with more information so they’re better able to make financial decisions. Some financial services industry observers say it’s part of a growing trend that will benefit investors — and their financial advisors.

“There is no threat here; no ‘us’ and ‘them’,” says Patricia Lovett-Reid, senior vice president with TD Waterhouse Canada Inc. in Toronto. “We tell people all the time to diversify their portfolios. It also does not hurt to diversify your sources of information.”

In fact, being knowledgeable can enhance the client/advisor relationship, says Thane Stenner, managing director of TIGER 21 Canada, a “peer-to-peer learning group” for high net-worth inves-tors: “[Individuals] are becoming more informed so they can interact with their advisors better.”

As well, advisors should welcome clients who may question decisions and inquire about other options, says Lovett-Reid: “Different perspectives are a good thing. If clients bring these up, it’s empowering. I can challenge back, but I can also look into things [my client raises]. It forces everyone to pick up their game.”

InvesTank 888 president and founder Vincent Tsang got the idea for the new network in the wake of the recent economic recession. “I looked at my portfolio,” he says, “and asked, ‘What the hell is going on?’ I learned that no one cares about your money as much as you do.”

Tsang began following certain financial experts and discovering unique information: “I realized the mainstream wasn’t hearing what I was hearing.”

InvesTank 888 is designed to connect investors to experts in three ways. Members — who must have more than $250,000 to invest and pay $3,000 to join the network — get up close and virtual with experts in a number of fields. “You get VIP access to these world-class experts,” says Tsang. “This is private, confidential.”

In September, Ross Healy, chairman and CEO of Strategic Analysis Corp. , a Toronto-based capital markets research firm, will speak with InvesTank 888 members. As well, the network’s members have constant access to their own personal investment board of 15 individuals. “It’s similar to a board of directors,” says Tsang, “[but] to talk about your investments.”

As well, Tsang notes, the network offers a private platform that can help members identify and discuss investment opportunities.

TIGER 21 shares this goal of encouraging wealthy inves-tors to come together. Launched 12 years ago in the U.S. — and in Canada last year — TIGER 21 brings together individuals whose liquid assets tally at least $10 million. Today, that network has 200 members across North America who pay $30,000 a year to participate, meet 10 times a year for a day to hear expert presenters and take part in a “portfolio defence,” in which one member discusses his or her investments in depth. “It’s like having a personal wealth think-tank,” says Stenner, who also is director of wealth management with Toronto-based Richardson GMP Ltd. in Vancouver.

The desire for information among wealthy investors is growing, he adds: “Investors want to be better educated. They want to feel closer to their money.”

What’s clearly driving this desire for information is market volatility, says Lovett-Reid. Case in point: she produces a weekly information video that’s growing in popularity. “I have watched the number of hits increase week after week. There is a real appetite out there.”

Although networks for wealthy investors are not a threat to advisors, their existence may indicate some concerns clients have about their current relationships. “Perhaps they delegated too much to their advisors,” Stenner says. “They want greater control.”

Wealthy investors may also be seeking out a greater sense of objectivity from these networks. “A lot of times, advisors have more of a biased opinion,” says Tsang. “Our interests are not necessarily aligned. [But] by no means am I saying, ‘Don’t use a financial advisor.’ I have two right now.” IE