A new peer group for wealthy individuals has been formed in the UK. The new grouping, named Peers, will meet for the first time in Mayfair on 9 January. The not-for-profit organisation makes no charge to the members who must have a minimum of £5 million in investible assets to be eligible to join. “Some of our members have well over £100 million in investible assets and, in aggregate we have collected over £1 billion of ‘buying power’ amongst the group in the first weeks of it’s existence,” Peers’ founder Francis Claessens told WealthBriefing. “As well as asking for members we’re also looking for speakers to address our meetings. These will be highly vetted though – they must have something worthwhile and concrete to offer the group, be it an investment opportunity or advice on wealth structuring or other relevant topic”. Peers’ stated aim is to provide continuing wealth management education to a membership that has already real and serious wealth management responsibilities. Peers also wants to showcase investment opportunities that specifically suit high net worth individuals as opposed to the institutional or retail investor and a ready-made network of friends in the same financial circumstances. As part of its remit Peers says that it does ask its members to share what they can, without ever having to disclose anything private. "Some members will want to tell something about what works for them in managing their assets, others may want to share a good investment idea," said Mr Claessens. The group will also have a strong not-for-profit ethic and will be concerned too with getting the philanthropic endeavours of their members right. Mr Claessens envisages meetings being held once a month. “Subgroups may form, though, as specific issues come to light,” he said. More information is available on the website www.wealthpeergroup.com and if anyone would like to check if there is still room available at the Wednesday event, Mr Claessens is available on 0784 118 6845.