China Foreign Economy and Trade Trust Co., Ltd. (FOTIC) took part in the 14th Annual Wealth Management & Private Banking Asia 2018 held in Shanghai from December 6 to 7, 2018. In the keynote speech and roundtable discussions, FOTIC representatives shared the company’s innovative practices in the field of wealth management.
This year’s event brought together more than 200 elites from the field of asset management and wealth management to exchange opinions on the “trends and prospects of wealth management, strategic upgrading, business transformation under new regulations, and digital and smart wealth management”. They also uncovered new information and trends in the wealth management market.
In 2018, the wealth management market ushered in a new development pattern. At the same time, wealth management institutions entered into a new period of adjustments to fresh regulations, returning to where asset management business began. According to a report by the Boston Consulting Group, China’s current wealth management market has reached US$ 6 trillion, and the industry has entered a stage of rapid development. In the face of new growth opportunities, the industry is also confronted with major challenges in the global economic and financial environment. In order to adapt to new regulatory requirements and market development trends, the wealth management industry will focus on realizing transformation in development, investment research, and core competitiveness of asset management, thereby further enhancing comprehensive wealth management capabilities.
During the forum held on December 7, Zhu Minming, deputy general manager of FOTIC and general manager of the Family Wealth Management Department, delivered a speech on the “Characteristics of and Innovation in Trust Wealth Management”.
Addressing the forum, he said that Chinese people were having a wider variety of investment choices, and their requirements for wealth management were also increasing. “Committed to the purpose of ‘Better Finance, Better Society’ and the ideology of ‘Service + Wealth Management’, FOTIC provides a range of comprehensive services, including asset allocation as well as wealth protection and inheritance by focusing on the wealth management needs of capital clients and giving full play to the strengths of the trust system. The company also seeks to enhance the service experience of clients by offering differentiated services through financial technology,” he said.
China has entered a new stage of economic development, shifting from high-speed growth to high-quality development, which is accompanied by a changing development mode, optimized economic structure, and transformed growth momentum. At present and for quite a long time in future, industrial optimization, consumption upgrade, new-type urbanization, the economic Go-Global drive, capital market, and other development themes are likely to provide plenty of valuable investment opportunities. FOTIC will focus on the highlights of economic development and provide excellent and exclusive asset allocation services for investors through product creation and innovation.
During the roundtable discussions, Zhu Minming and representatives of peer organizations exchanged views on meeting the diversified needs of “passing down wealth” of high-net-worth individuals through standardized and personalized service modes. Zhu said that isolation and protection were functions of trust property that had made family trust the best way for protecting and passing down wealth. “Keeping the diverse needs of its clients at its core, FOTIC has been carrying out innovation in its practices. It is committed to providing customized inter-generation heritage solutions for its clients. In the meantime, the company has been exploring and promoting a deep integration of wealth management and charity cause,” he said.
Organized by the well-known think tank Shine Consultant, the Annual Wealth Management & Private Banking Asia has become one of the most influential forums in China’s wealth management industry. The event provides a good platform for dialogue and exchange among government officials, experts, scholars, professional wealth management institutions, and industry peers. FOTIC is willing to work with people from all walks of life to enhance proactive management abilities, “manage wealth upon trust”, and contribute ideas and wisdom, with a view to promoting the healthy and rapid development of the wealth management industry.