☀️ There’s no shortage of business and nonprofit ideas to improve the world.

Take a new organization dedicated to providing total room transformations for children nationwide who have experienced abuse. Room Redux’s main goal is to ensure kids heal from abusive experiences with a safe and comfortable bedroom.

“They need to know that there are people who love and care about them without expectations,” the group’s executive said.

Today, we'll discuss something else improving lives: Long Angle, a special membership community for high-net-worth individuals to transform their personal and financial journey.

All this, and more, in just 5 minutes to read.

— Matthew

Quote of the Day

"There will always be bull markets followed by bear markets followed by bull markets."

— Sir John Templeton

What Else We’re Into

📺 WATCH: Inside a Chinese ghost town of abandoned mansions

🎧 LISTEN: Wealth and financial independence simplified with JL Collins

📖 READ: The rise of pickleball among Americans (and private equity)

Trivia

The Power of Collective Growth

At Long Angle, the success stories come one after the other: Just recently, a member relayed his financial situation with others before learning that he could, indeed, retire. Two members met each other through the community and then launched a company. One member learned through a group discussion that he ought to diversify his portfolio of assets.

Another was sued by one of their tenants, but advice from the Long Angle community helped them review their insurance policy more closely and resolve the legal issue without any financial cost. 

“While many ‘masterminds’ are narrow — just executives or founders — this is unique because you have a diverse group,” says Tad Fallows, Long Angle’s managing director. “And these folks truly want to give back to the community.”

Since its launch in 2020, Long Angle has become a leading, vetted community for high-net-worth networking crafted for investors, entrepreneurs, and professionals.

No membership fees, just live events, workshops, fireside chats, deal flow updates, and a welcoming community built to cultivate relationships and clearer thinking. All members possess $2.2 million-plus in investable assets, representing 45-plus countries and virtually every industry. 

This interview with Fallows, who helped launch the community in 2020, has been edited lightly for brevity and clarity. 

Where did the idea for Long Angle originate?

My partner and I founded and bootstrapped a SAAS company (75 employees), ran it for about 10 years, and then sold it to a strategic acquirer. We had basically paid ourselves nothing for 10 years, then went from having very little money to abruptly facing these very high net worth questions of estate taxes, raising kids with wealth, alternative assets, and so on. 

We wanted advice from people in the same situation — people facing the same questions, yet not looking to sell us anything. That was the genesis. We started with a dozen friends, mostly other entrepreneurs or guys who ran hedge funds. 

How has growth been?

Over the past three years, the community has grown from 12 people to about 2,500, mostly from word of mouth. It began as (sort of) a private version of Reddit for those looking at everything from asset allocation optimization to qualitative questions of family money planning, advice on vacation spots, and how to get a new CPA. Today, we have over $30 billion in total assets, with a median net worth of $15 million. We also see international members from places like London, Switzerland, Singapore, Australia, and the Middle East.

That’s impressive growth.

We also have live events, virtual meetups, and philanthropy. We’ve had guest speakers like Cathie Wood and Bill Perkins, plus in-person meetups. We do happy hours and dinners. We’re doing our first full community annual meeting in Arizona this fall. 

We added small groups, akin to masterminds, with about eight members who meet monthly. They are like a personal board of directors. 

What is the deal-flow aspect of your community?

Members have access to exceptional deals. We charge small management fees on syndicated deals to cover our expenses for our 15 employees. Participating in deals is not required, but many choose to read a deal’s due diligence info, financial statements, and other information in our full deal-flow section. You can also read how we approached previous deals. This is incredible access to private equity. 

How does Long Angle make money to cover operational expenses? Those fees?

Yes. And those are optional. I just spoke with a wealth manager who couldn’t wrap her head around how we have so much value packed into one community. There is truly no community out there that's free to join with this level of information. 

What common discussion areas or pain points do you see among members?

Most discussions are not about emerging markets vs. developed Europe. They’re about: How do I not spoil my kids? Some members might say, well, I had to work hard to generate this wealth, so I want to take advantage of it and give my kids the opportunities I didn’t have. At the same time, these people were successful because they had to overcome challenges and build grit. So, a lot of members are trying to find that balance. We don’t have all the answers, but many people ask those same questions. 

They ask, do I give my kids a simple allowance or a 100% match if they choose to invest their allowance? How do you gift them shares for their birthday? Mentoring your children on financial education is a key skill for many, including 529 investment strategies and personal finance books. 

How often do you see ‘financial anxiety,’ where members might have millions but still worry about having enough?

Many people comment about how hard it is to move out of accumulation mode because it’s nice to see your accounts grow every month. I’ve had conversations with people who could live off their cash for 100 years, yet they are still worried about money. So it comes up. Sometimes, we discuss that it’s OK to pay someone to get groceries for you. It’s OK to outsource some things — it’s not lazy or wasteful. So members can get advice and reassurance where they need it. 

Are most members self-made?

Yes. About 95% of members grew up without significant wealth. Only about 10% of our members’ net worth is leverage. About 25% of folks don’t own their home, and of those who do, they often don’t have a mortgage. This sounds irrational: If you borrowed money at 3%, you will certainly beat that in investments. But there’s something psychologically helpful about being light on debt. 

To be fair, that 5% of people who did come from wealth also provide some interesting insights. One of the big questions members face is, how do I not spoil my kids? How do I ensure they have ambition, drive, and the benefits of wealth? Those people can help with those questions. 

Do the successful people and members you’ve met share any notable qualities?

There are a million ways to get to the finish line. But most people worked very hard. Some folks bought $1,000 worth of bitcoin in 2014 or whatever, but many built a company. It’s not all Ivy Leaguers. Many folks grew up middle class, but the average age is about 40. 

You have to follow a somewhat unusual track to get there, like with a liquidity event selling their business. We have many entrepreneurs who then had significant exits. We also have people who simply saved really well with the Boglehead mentality. Many are still in the workforce, even though they don’t have to be. 

Do you have an ideal cap for the size of the community?

We don’t want to recreate LinkedIn. I thought we’d lose a sense of intimacy as we grew, but that hasn’t been the case. The benefits of scale have been nice. People with very specific experiences can help, including the specifics of Canadian tax law, for example. We don’t plan to get bigger than somewhere in the tens of thousands. 

Are members growing an interest in Bitcoin?

Around half the members have Bitcoin exposure, with a mean allocation of 2%-3%. Many members have made seven or eight figures in crypto, though few are true believers in it. We also have some crypto hedge fund members, and the community has expertise in the crypto space. 

Are there any financial advisors in the group, and what role do they play, if any?

A handful. We stress that this is a non-solicitation environment. The wealth managers here are here for learning or access to deal flow. Same with attorneys and accountants. As for our members, about one-third work with a wealth manager.

How do members relate to health, wellness, and clear-thinking questions?

Some members ask about strategies for raising children, finding meaning in life, and how to best use their time when they don’t have to work. We have people who want to improve sleep quality. We have members in health and wellness. For example, we had a meditation thread with over 50 replies on practices, plus overcoming obstacles around that. We had a guest speaker recently on longevity, with a big turnout. So, the community goes beyond financial discussion.

What’s your favorite part of Long Angle?

Meeting interesting people. I probably conduct four new member interviews a day. It’s fascinating to talk to people worldwide about what they’re working on and what problems they want to solve. And I learn so much. I didn’t even know search funds were an asset class, and then I learned they’ve had 30% returns for the last 30 years. That’s the power of such a diverse community with smart, thoughtful, curious individuals looking to help one another.  

Dive deeper

Check out their website and FAQ section for more information about joining Long Angle. You can apply here.

See you next time!

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