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"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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Scotia Private Client Group has struck up a strategic partnership with Tiger 21 Canada to offer the peer-to-peer group’s members access to its HNW borrowing platform.

Scotia's Total Wealth Credit Solution allows members to consolidate their various investment holdings as collateral against a single credit line, which can then be used for individual or group investing purposes.

Tiger 21, which is headquartered in New York and was founded in 1999, has been making a number of moves into Canada recently. After announcing the leadership team to spearhead its expansion into the country last October, in May it entered into a partnership with Richardson GMP under which the Canadian wealth manager will serve the Tiger 21 membership.

Tiger 21’s around 200 members, who collectively manage some $15 billion in assets, form groups in New York, Los Angeles, San Francisco, San Diego, Miami, Dallas, Washington DC, and Vancouver, Calgary, and Toronto. The organization is also currently in the process of opening a group in Montreal.

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