Guangzhou, January 9 (Reporter Guo Jun) The first Greater Bay Area Family Office Summit and the "2024 China Family Office Industry Development Trend" press conference was held in Guangzhou on the 8th. The summit brought together many elites in the family office industry, and also invited a number of experts and scholars in the fields of law and taxation, trust, children's education, asset allocation, health care and family office to give speeches, share their unique insights and practical experience on the development of the industry, and jointly provide suggestions for the prosperity and development of the family office industry.
The 2024 China Family Office Industry Development Trend*** was officially released. Courtesy of Pan-China.
In recent years, more and more middle- and high-net-worth clients have begun to pay attention to issues such as wealth preservation and appreciation, orderly inheritance of assets, and healthy pension planning, which has also brought about the prosperity of China's family office (hereinafter referred to as "family office") market, and a large number of various family offices have appeared. Behind the growing market is the uneven growth of service organizations, which means that industry players need more relevant research and guidance to lay a solid foundation for the service concept and architecture of family offices.
**" is researched and compiled by the well-known financial ** "21st Century Business Herald", and the Pan-China Bay Area Family Office and Pan-China Puyi Family Office provide data, intelligence and technical support to make a decision on the development status, dilemma, future trend and feasible development path of Chinese-style family offices.
Li Zhihong, director of the Insurance News Department of the 21st Century Business Herald, pointed out that the preservation of assets, the realization of wealth appreciation, and the completion of wealth inheritance have become the common demands of middle and high-net-worth individuals. When traditional wealth management products and wealth management services in the market can no longer cover the growing demand for asset appreciation and inheritance, family offices came into being.
The first Greater Bay Area Family Office Summit was held in Guangzhou on the 8th. Courtesy of Pan-China.
**According to the domestic environmental characteristics, China's commercial family offices can be divided into comprehensive, financial and non-financial according to the services they provide. However, in the continuous development and exploration of the market, there are now service providers that include the advantages of these three types of family offices. This type of family office has more advantages than small and medium-sized institutions, which is mainly reflected in: having group advantages and outstanding investment and research capabilities;Provide comprehensive solutions for customer families and families with a buyer's mindset;There is a complete talent recruitment and training system;There is a complete service plan, which extends the service refinement to a wider range of categories such as family service trusts and personal wealth management trusts. The Pan-China Puyi Family Office is one of the typical examples of such institutions.
In addition, "* points out that domestic family offices face client, market and regulatory challenges: weak customer risk awareness, lack of long-term planning and family awareness;The market institutions are uneven, and there is a lack of highly specialized talents with unified values;The relevant regulatory systems have not been implemented, and there are compliance risks.
Kou Chao, President of Pan-China Insurance Sales & Service Group, said that the key to seizing the development opportunities in the next 5-10 years is to build a comprehensive product system and solutions, integrate platform-based ecological resources, and establish an institutional family office operation system, so as to truly focus on customers and meet their comprehensive needs across generations. It has been more than ten years since the first batch of family offices officially entered China, and the current Chinese-style family offices should pay more attention to personalized, professional and long-term service model innovation. (ENDS).