"In this case, I will hand over the shares of my Yimin Netgold to you for management.

This is the most liquid part of all my assets.

Based on the current market value of 5.5 billion yuan, the value is about 2.6 billion US dollars.

In addition, I pledged a portion of my equity and borrowed $500 million.

These assets and debts are managed by the family office of Yimin Wealth, and you can help with some investment management and debt planning. ”

Zhang Yida thought about it and decided to support his own company.

Family offices are divided into two categories: "single family office" and "business multi-family office".

A single-family office is one in which the wealthy themselves manage their family portfolios by setting up independent institutions, hiring investment managers, and managing their own portfolios, rather than entrusting them to financial institutions.

It can be seen as a private company with a special function of the plutocracy.

The U.S. Securities and Exchange Commission (SEC) defines a single-family office as "a legal entity established by a wealthy family to manage wealth, plan for wealth, and provide other services to members of the family."

The SEC estimates that there are between 2,500 and 3,000 single-family offices active in the United States, managing about $1.2 trillion in assets, and about 1,500 in Europe.

Those who engage in single-family offices are generally the super-rich among the super-rich.

A family office is an expensive tool, and the size of assets under management should not be less than US$500 million (about 3.1 billion yuan currently) to set up a "family office" with revenues that can cover the costs.

This level of liquid assets is still a high threshold for the first generation of entrepreneurs whose assets are precipitated in enterprises.

Even with sufficient capital, some families may want to start small.

Regardless of the size of the assets, the establishment of a family office itself is a huge and complex project, which requires a lot of time and energy of the family, and choosing to join the existing "joint family office" is often the starting point for the family to try the "family office".

In addition, the second major advantage of joint family office is "economies of scale", which can make money in groups.

The super-rich choose to join the joint family office, and can reduce operating costs through shared service platforms, investment teams, etc.

In turn, a joint family office with multiple family clients can attract better investment managers, family advisors, legal experts, and other professionals to join.

As different families have experience in multiple industries and a broader business network, joint family offices have the potential to obtain more investment opportunities.

At the same time, various "inside information" and "secret information" are also easier to share among different families through a joint platform.

Of course, there are pros and cons, and while there are many conveniences, choosing to join the "joint family office" also means that the family will lose some privacy, and will not be able to enjoy full customization and absolute control.

Therefore, powerful families like to engage in "single-family offices". ”

Those who are not strong enough, or are not familiar with this field, and want to test the waters a little, basically choose "multi-family office".

Zhang Yida will definitely not choose a multi-family office for a long time, and when he wants to come, when his career is stable and he needs to consider inheritance and value preservation, he will initiate the establishment of a "single family office." ”

The reason why I agreed to participate in the "joint family office" of Yimin Wealth is not only to stand up for my own company, but also to test the water for the first time in this field.

Ding Siyao was not surprised at all by Zhang Yida's words, she just mentioned casually that no matter how big the other party's heart is, she will not invest all her assets in this family office.

After all, Mr. Zhang is still young and a pioneer generation, so he is not a particularly accurate customer.

The precise customers of Yimin Wealth are the "second generation", the kind that wants to take over the family class.

It has been nearly 40 years since reform and opening up, and a large number of people have become rich.

Many of the founding generations are also about to retire, and they are very worried about "succession".

The emergence of family offices is to help the other party complete the inheritance of wealth and smoothly hand over.

"Okay, with Mr. Zhang taking the lead, I believe that our multi-family office business will be much easier.

In this industry, it is the most difficult to gain the trust of customers.

At present, this trend has just become popular in China, or it is only a short time to become wealthy, and there is not much such demand.

Unlike European and American countries, some families have been wealthy for hundreds of years, and for several generations, their family offices have developed very maturely. ”

Zhang Yidaken handed over some assets for his own management, and Ding Siyao was already very satisfied.

"How do you plan to do business in the early days?" Zhang Yida asked again.

"Family offices are classified as lean, hybrid and versatile.

A streamlined family office is mainly responsible for family bookkeeping, taxation and administrative affairs.

The substantive investment and advisory functions are mainly undertaken by external private banks, fund companies (VC/PE/hedge funds), family consulting companies, etc.

Some domestic enterprises have set up investment and development departments or strategic investment departments to make investments outside the main business, which can be regarded as the early prototype of a streamlined family office.

Hybrid family offices outsource non-strategic functions that are closely related to family preferences and characteristics.

Like Mr. Zhang, your main business is the Internet and finance, and this part of the investment can be completed by the family office.

For example, if you invest in art collections outside of your main business, you can outsource your entertainment and travel.

The all-round type is amazing, including investment, risk management, law, tax, family governance, family education, inheritance planning, charity management, art collection, security management, entertainment and travel, global property management, butler service and other services must be satisfied.

We can't be an all-round family office at the moment, we can only start with a lean and hybrid type.

Because we are backed by partners such as Yimin Wealth, Huayi Capital, and Ruixiang, I think we can start from the hybrid type.

It mainly focuses on the investment of financial assets and outsources other food, drink and entertainment. ”

Zhang Yida understands that the three major types of this family office, from low to high, can be roughly regarded as:

"The confinement lady who only helps you take care of the children";

"In addition to taking care of children, nannies who also have to buy vegetables and cook";

"In addition to taking care of the children, I also have to cook, tell stories to the children, and put the children to sleep. ”

"Well, now that you've thought it through, let's get started!

Family offices are not very popular in our country, but the market potential is huge.

The number of billionaires in our country is second only to the United States.

This is a market of tens of trillions, and when Yimin Wealth is listed, it can also package some concepts and tell stories to Wall Street. ”

Zhang Yida knew that it would not be too easy for this multi-family office business to develop.

But if Ding Siyao wants to do it, she has to toss it.

The golden development period of this business has not yet arrived, and China's current generation is basically the post-50s, post-60s, and post-70s.

In the last decade, there may be a wave of market dividends.

"Then why is our multi-family office named?" Ding Siyao asked again.

"Zhong Ming Ding Food House, the family of poetry and books. The family has been passed down from generation to generation.

Today's wealthy families still want to boast that they have culture and family heritage.

Let's name it "Torch Family Office", and then make an ancient clock and the logo of Gu Ding.

We want to pass on the concept of "serving every client's children and grandchildren, and passing on wealth from generation to generation." ”

For many founding generations, the legacy of wealth is more important than anything else.

You can advertise more in this direction.

A family business is not the same as family wealth, and cunning rabbits have three holes.

When the business is still developing smoothly, it is necessary to consider wealth inheritance and diversified investment, diversify investment, and resist various unpredictable risks. ”

Zhang Yida doesn't have to worry about these things now, he is only 20 years old. But some entrepreneurs are in their fifties and sixties, and it is time to think about grandchildren.

"Okay, I'll start evangelizing the client right away. ”

Ding Siyao feels that Zhang Yida is very reasonable, and the family office must take "wealth inheritance and well-being for future generations" as the main selling point.

The founding generation itself is a dragon among people, and there is no need to teach others how to manage the company and invest in financial management.

But it's easy to fight the country, but it's hard to sit on the country. It is impossible to guarantee that every second generation will be able to succeed and manage the family business well.

Compared with general family trusts, family offices can undoubtedly provide more abundant services.

……

"Mr. Tian? It's me, Ding Siyao. ”

"Oh, Mr. Ding, hello, what's the matter?"

Tian Desheng is a manufacturing tycoon in Jiangnan Province, with an A-share listed company under his umbrella and a lot of money.

At the same time, he is also a major customer of Yimin Wealth, ranking in the M3 customer level.

Yimin Wealth divides the customer level into M1, M2 and M3 according to the investment amount of millions of yuan, tens of millions of yuan and 100 million yuan.

Tian Desheng is one of the few M3s in Yimin's wealth, and Ding Siyao has also dealt with him several times.

Knowing the strength of this boss, he has a net worth of more than 3 billion yuan in the shareholding part of the listed company, and has privately invested in many companies and properties.

"Mr. Tian, that's right. Didn't I mention family offices to you before?

Our Yimin Fortune Family Office will officially open for business the day after tomorrow, so I would like to invite you to our opening reception. ”

Ding Siyao said with a smile that Tian Desheng is very in line with the access conditions of the family office, and she really wants to pull the other party to join the fire.

"Oh. But I'm going on a business trip the day after tomorrow!

I guess I won't be able to attend this party. Mr. Ding, I received your wishes, I'm really sorry, I can't come. ”

As soon as Tian Desheng heard about Ding Siyao's family office, he was very interested.

I am only in my forties, and it is when I am fighting that I begin to think about what wealth inheritance, which is too unfounded.

When I went to that drinking party, I was probably investing myself.

I won't go by myself!

Because Ding Siyao is also the CEO of a large company, and he also invested 100 million yuan in Yimin Wealth, he did not directly refuse, and made up a reason to give both parties a step down.

The guests who participated in this reception were Mr. Zhang Yida, Mr. Liu Yonghao, Mr. Lei Jun, and Mr. Shen Beipeng...... and other elites from all walks of life.

I originally wanted to introduce Mr. Tian to you. If you're too busy, that's a shame. I'll have to look for a chance next time. ”

Ding Siyao said with a smile, this reception is of a very high standard, and there are many bigwig-level guests, she believes that as long as she is not really too busy, she should not refuse this good opportunity to accumulate contacts.

"Oh, Liu Yonghao, Lei Jun, they are also coming! In this case, I will coordinate the business trip time, and I will come to have a good time the day after tomorrow." ”

Tian Desheng's face was not red and he changed his breath, he had been doing business for so many years, and he had already developed a good skill.

How could he be absent from such a grand event.

Although he is also a big boss with a lot of money, it depends on who he compares with, compared with hundreds of billions of bigwigs, then he is far behind.

The opportunity to meet the bigger business bigwigs, he said he couldn't miss anything.

Wouldn't it be nice if we talked about some kind of cooperation?