On April 23, Tongfang Global Life held the "Zhizhen Winner" Gaoke brand upgrade conference in Wuzhen, Zhejiang, and officially established the "Zhizhen Winner" family office, which is not only the deepening and expansion of the [Zhizhen Winner] Gaoke brand founded in 2019, but also a strategic step forward for Tongfang Global Life on the road of deep integration of Gaoke products and service resources, indicating that its high-net-worth customer service has entered a new stage of development. The conference also invited experts in various fields such as wealth management, tax consulting, and trust planning to focus on the topic of "the road to wealth risk management under the new pattern", and discussed the three major topics of wealth security, stable inheritance and quality of life that Chinese high-net-worth individuals are most concerned about. A full range of risk management solutions to escort the steady growth and orderly inheritance of customers' wealth, and realize the beautiful vision of quality life.
[Zhizhen Winner] family office was released
(From left: Ke Kangru, Chief Marketing Officer of Tongfang Global Life, Wu Shuo, Assistant General Manager and Chief Executive Officer of Tongfang Global Life, Peng Bo, Deputy General Manager of Tongfang Global Life, Zhu Qingguo, General Manager of Tongfang Global Life, Guo Xin, Deputy General Manager and Chief Bancassurance Officer of Tongfang Global Life, and Xu Haixia, Chief Agency Business Officer of Tongfang Global Life)
Rising to the occasion, the family office helps high-net-worth individuals break through the century-old changes
According to the 2023 China Private Wealth Report released by China Merchants Bank and Bain & Company, the number of high-net-worth individuals with investable assets of more than 10 million yuan in mainland China has jumped to 3.16 million, and their overall investable assets have exceeded 101 trillion yuan, reflecting the continuous and vigorous development of the depth and breadth of China's wealth market. At present, the world economic development pattern is undergoing major changes unseen in a century, globalization has encountered the countercurrent of protectionism in the form of "small courtyards and high walls", a new round of scientific and technological revolution is still brewing, and the global economy continues to be under pressure and moves forward with heavy burdens. In this complex and volatile international context, the family wealth of China's high-net-worth individuals is facing unprecedented severe challenges and risk impacts, and their wealth concepts and goals have also quietly undergone profound changes, from the single orientation of "wealth creation" in the past to the dual emphasis on "wealth preservation" and "wealth transmission", showing deep worries and forward-looking thinking about the long-term preservation and orderly inheritance of wealth.
Since the establishment of the "Zhizhen Winner" high-end customer brand in 2019, Tongfang Global Life has always adhered to the spirit of deep cultivation, paid close attention to the ever-changing high-net-worth customer market, grasped the trend with accurate insight, and listened to customer needs. "In the face of the profound changes in the current domestic and foreign economic environment and the upgrading of the wealth management needs of high-net-worth individuals, Tongfang Global Life Insurance has taken advantage of the situation to launch [Zhizhen Winner] with its keen market sense and forward-looking vision. The family office is not only a deepening and broadening of the connotation of the Gaoke brand, but also a manifestation of Tongfang Global Life's initiative to adapt to the torrent of the times and actively respond to the new demands of high-net-worth customers for wealth security and inheritance, in order to help them calmly cope with the challenges of future uncertainty in the complex economic environment, realize the security, value preservation, appreciation and orderly inheritance of wealth, and enjoy a quality life. Zhu Qingguo, general manager of Tongfang Global Life Insurance, said when releasing the [Zhizhen Winner] family office.
Zhu Qingguo, General Manager of Tongfang Global Life, delivered a keynote speech
Zhu Qingguo further introduced that relying on the 180 years of global financial service experience of the foreign shareholder Global Life Insurance, the family office takes insurance products as the core, integrates high-quality resources in the fields of law and taxation, trust, health care and other fields at home and abroad, builds a diversified value-added service system, and tailors all-round and integrated risk management solutions for high-net-worth customers and families, so as to achieve three key benefits for high-net-worth customers and families: one is asset permanence, through accurate matching of annuity insurance products, Legal and tax consulting services to ensure that family wealth can survive market fluctuations and achieve stable appreciation. The second is to enjoy the eternal life, select high-quality pensions, high-end medical insurance, as well as high-quality health care services such as immune cell storage, high-end physical examination, medical treatment at home and abroad, health care and residence, etc., so that family members can enjoy a noble wealth life experience. The third is the sustainability of the family business, with whole life insurance and trust services as the core, and a professional legal and tax consulting team to jointly design personalized inheritance plans for customers to help the family wealth and spiritual culture continue to be inherited.
Gather wisdom and strength to explore the pragmatic development path of family offices
As a milestone strategic breakthrough in the development of Tongfang's global life high-end brand, the "Zhizhen Winner" family office conference also brought together a number of experts in the fields of wealth management, taxation, trust and other fields to express their opinions and conduct in-depth dialogues on the in-depth wealth demands of high-net-worth individuals. From discussing the effective integration and innovation of insurance products with trusts and tax planning, to analyzing the advantages of family offices in connecting with health, pension, education and other service resources, there was a heated discussion on how to open up the road of wealth risk management under the new pattern of "Zhizhen Winner" family office, which provided many useful thoughts for the prosperity and development of the insurance family office industry.
Roundtable Forum (from second from left, Peng Bo, Deputy General Manager of Tongfang Global Life, Li Yonghu, Executive Director and CEO of Bee Tech, AFL Group, Zhang Yu, Founder of Dahan Express Wealth Academy and Distinguished Lecturer of School of International Banking and Finance, Shanghai University of Finance and Economics, Liu Jiaguan, Deputy General Manager of Channel Wealth Department of CITIC Trust, and Ke Kangru, Chief Marketing Officer of Tongfang Global Life)
The emergence and development of any social service is rooted in the real needs of society, and the same is true for family offices. Zhang Yu, founder of Han Express Wealth Academy and distinguished lecturer of the School of International Banking and Finance of Shanghai University of Finance and Economics, believes that "under the complex and volatile global economic environment, with the double increase in the number of high-net-worth individuals and investable assets in mainland China, a large number of diversified new wealth needs are bound to emerge. In addition, with the retirement of the next generation and the succession of the second generation, the demand of high-net-worth individuals for the safe and orderly inheritance of wealth is increasingly prominent, and how to smoothly transfer wealth to the next generation is the focus of Gaoke's attention. ”
In view of the goal of safe and increased wealth of high-net-worth groups, Ke Kangru, Chief Marketing Officer of Tongfang Global Life, has firm confidence in the key effectiveness of insurance in the wealth management system. He said, "As the cornerstone layer of the 'wealth pyramid', insurance products have built a solid foundation and buffer zone for overall wealth management. Especially at a time when uncertainty continues to intensify, risk management is a top priority. As an important means of risk management, insurance can effectively transfer risks, provide economic compensation, and preserve wealth, greatly enhancing the financial resilience of individuals and families in the face of uncertainty and ensuring the security of wealth. More importantly, if insurance can be organically combined with other professional financial tools such as trust services, tax planning, etc., it can help protect and effectively transfer family wealth. ”
Liu Jiaguan, Deputy General Manager of the Channel Wealth Department of CITIC Trust, said, "Insurance trust has become one of the important financial tools for high-net-worth customers to achieve asset segregation and wealth inheritance. By combining the advantages of the insurance fund with the trust system and realizing the separation of beneficiary rights and control rights, the impact of some uncertain risks on wealth inheritance can be resisted. At the same time, the insurance trust can flexibly customize the inheritance plan according to the wishes of the settlor, such as distribution according to stages, directional inheritance to specific beneficiaries, and with the help of the leverage effect of insurance, the efficiency of wealth inheritance can be effectively improved. In addition, insurance trusts also have good privacy protection features, making them one of the ideal choices for family succession planning. ”
However, the needs of high-net-worth individuals for wealth management are becoming more diversified and refined, not only limited to financial needs such as family wealth protection and inheritance. "At present, high-net-worth individuals are pursuing comprehensive solutions, and insurance institutions have unique advantages in building an overall solution of 'product + service'. In addition to the long-term nature of the integrated solutions for customer needs, which are often long-term, they are also perfectly aligned with the long-term asset allocation function of insurance products," said Yonghu Li, Executive Director and CEO of Bee Tech and Head of Digital Business for Asia Re's fast-growing markets.
In the process of promoting the innovation of value-added services of insurance companies, Peng Bo, Deputy General Manager of Tongfang Global Life, emphasized the importance of service focus and quality assurance. He believes that on the one hand, insurance companies should have a keen insight into and accurately identify the pain points of customer needs, so as to dig deeper and expand specific service areas in a targeted manner, and on the other hand, in the process of building a service system, they must adhere to a high-standard selection strategy and work with high-quality partners in the industry to ensure that the services provided can reach an excellent level of quality and effectively meet and exceed customer expectations. He further introduced that in response to the growing demand for quality services from high customers, Tongfang Global Life is also continuing to improve the value-added service system, and upgraded and launched the "full +" health care service 2.0 system at the end of last year, relying on the top health care service companies at home and abroad, focusing on the five major demand scenarios of "medical, pharmaceutical, inspection, nursing and nursing" to provide all-round care for high-net-worth families. With the establishment of the "Winner" family office, the company will further focus on the core demands of high-net-worth families, focus on deepening and improving the service projects in the field of health and elderly care, work with high-quality partners in the industry to continue to launch high-quality health care projects, and actively expand the field of education services, and strive to provide customers with more comprehensive and high-quality one-stop solutions.
The establishment of the "Zhizhen Winner" family office not only realizes the comprehensive upgrade of its high-end brand, but also reflects its "customer-centric" service concept, as well as its determination to keep pace with the times, innovate and change, and strive to escort customers' wealth in the ever-changing economic environment and help them realize the harmonious symbiosis of wealth inheritance and quality life.
*Note: 1. The insurance + trust business needs to be connected to the trust company through the insurance policy and distributed according to the wishes of the settlor to achieve relevant functions.
2. Tongfang Global Life provides insurance protection, please refer to the terms of the product contract for details.
Contributed by Huang Yu
Editor: Yuan Biao
Review: Wang Wei Gu Jun
Proofreading: Rui Tianshu