It is said that time is like flowing water, the progress of science and technology can be personally felt from a variety of ever-changing new concepts, from cryptocurrencies to DEFI to NFT to web3.0, but in the development process of home office, time seems to have stopped abruptly, a wave of heat wave came and went faster, the Internet search popularity in the past three months, the search index of the whole network with family office as key word is relatively sluggish, and the search index of 95/ day is down nearly 53% compared to 202 / day 3 months ago.
According to incomplete statistics, from April 2013 to October 2019, there are about 6,000 various financial platforms or institutions in China that have a "thunder" problem, at least hundreds of thousands of financial managers or investors in China have experienced the pain of investment explosion, Chinese investors have accepted such a fresh and profound investor lesson (education), the customer has been restarted, his operating system has been updated, becoming a new customer, customers are more looking forward to diversification different from the traditional new wealth management model.
The advent of the epidemic era at the end of 2019 has exacerbated the various insecurities and uncertainties about the future of ultra-high net worth customers, coupled with the recent multi-domino effect of a number of debt default events in a large number of housing enterprises, the demand for wealth management has become more urgent and clear.
China has the world's second largest group of billionaires, and the growth rate of ultra-high net worth customers is the highest in the world! This is an unprecedented development opportunity for family offices, and the market is constantly catalyzing and stimulating the emergence of new marketing forms and scenarios, according to the 2021 McKinsey "The Success of the World's Leading Family Office" report, as of November 2021, there are nearly 10,000 institutions with the name of "family office".
In the new marketing scenario, as an important carrier of inheritance, the family office has been closely watched and expected by the market. We were familiar with the rough and simple fast path, the efficient team to expand customers and connect resources, to the home office here seems to fail, design a meaningful Chinese and English brand, list the lengthy and gorgeous background team, but also only stay at the PPT level.
Is it so difficult for the "home office" that is talked about by the overseas wealth management market and written as all kinds of foreign books to start and grow in China? It has attracted major consulting companies, internationally renowned asset management institutions, and domestic celebrities to speak out, and their views have been clamored for by hundreds of schools of thought.
Institutions serving a single family in China exist in different forms Some are secretariats, some are subordinate to a department of the enterprise, and some of the fashionable ones have registered family offices at home or abroad. Most of the employees of these institutions are family members, family business insiders or professional investors of investment institutions. China's early years in the Internet and real estate and other industries came out of a wave of leaders, is the earliest stage of China's single office traceable footprint practitioners and founders, but compared with the booming volume of the entire Chinese business market, the number of single offices is a handful.
The family offices that hold high the flags on the market belong to the joint family office model, serving multiple high-net-worth and ultra-high-net-worth people/families, and there are no clear limits and regulations on the amount of investable assets. Most of the human resources come from the traditional financial industry, the wealth of the three parties and as a service to the traditional financial industry and the three parties of the "backstage" institutions, the rapid platter way so that the figure of the family office in the market to form a trend of fire, some of which come from the traditional financial institutions and the internal direct transformation of the three parties to the wealth.
2015 is known as the "first year of China's family office" by the industry, because the official registration of companies containing the word "family office" began in that year, and more than a dozen institutions settled in Qingdao in that year. In January 2021 alone, more than 100 companies were registered in Hainan, and as of September, nearly 300 had settled in Hainan. According to enterprise investigation data, the number of registered family offices in Hainan Province in 2021 is only 9 months more than 3 times higher than in previous years.
In addition, according to online multi-party data sources, the development experience of China's state-run industry is divided into two stages:
From 2013 to 2016, the first batch of home offices was established; from 2016 to 2021, most of the sales-oriented home offices entering the market in the second batch had no specific competitive advantage, although the name of the home office was retained, the actual business has gradually returned to the source, and by 2021, 60% of the operation number of the WeChat public account of the batch of home offices has stopped updating, and the number of home offices has been continuously extended with sine cosine bands.
The course training of the home-run track is also accompanied by the ups and downs of the market and the enthusiasm of practitioners, since around 2015, experts in many fields, the perseverance of the wisdom of the group team to open up the home-run education and training market, whether the front line or the background of many people with lofty ideals from their own professional starting point, their own superior resources to start, their own social connections.
Launched a variety of single or comprehensive home-run theme course promotion and marketing, of which the marketing methods of insurance large orders and the dissemination of popular knowledge of trusts are the most menacing, in the era of the development of diversity in China's wealth management industry, in the context of the rapid growth of pan-financial practitioners, it has caused a wave of fast-food professional upgrading heat wave and career transformation impulses.
With a variety of courses, intensive training, training in front of the practitioners, practitioners seem to see the hope of another outbreak of career, in this wealth management industry change practitioners in order to open up more business began to swallow the jujube learning, in order to transform self-help blindly follow the trend of plunging into it, full of hope at the same time, confusion and helplessness also lingering in the heart of the growing. Learn more and more professional knowledge: law, taxation, corporate transformation, overseas listing, cash flow planning, art management, etc., any one professional field is enough to make potential prospective practitioners in the home-run industry daunted, the more they learn, the more afraid, over time, retreat.
Is it really necessary to learn so many categories of expertise? Have you learned to do homework? So why do some partners gather experts in almost all major fields, and the home office still does not operate smoothly? The quantity and quality of home offices are not proportional to the prosperity of the training market and the hilarity of all kinds of people and horses, why? Again, is it so difficult to do home?
Time has proven that this is destined to be an exploration process that requires patience and wisdom, and it is an opportunity for The Chinese wealth management industry to truly cultivate and precipitate. It should be cherished and excited, and the enthusiasm and creativity of the city should be injected into the upgrading and iteration of the wealth management industry!