"Today is the day of the establishment of the Flame Family Office, thank you very much for coming......

In a private club outdoors in Beijing, dozens of super-rich people and elites from various industries sat under the stage, watching Ding Siyao, who was dressed as a female elite in the workplace, give a speech on the stage.

Ding Siyao was dressed in an off-white haute couture suit, her long black hair was pulled into a snail bun, and she was a little nervous when she watched a group of bigwigs in the audience who were worth more than one trillion yuan in the audience.

"The earliest family offices in modern times appeared in the late 19th century with the Rockefeller family.

Today, family offices have long become the standard for wealthy families in Europe and the United States.

But in China, this has always been a hidden and niche area.

However, the family office is far from being as mysterious as imagined, and its main function is to be responsible for the governance and management of the four major capitals - financial capital, family capital, human capital and social capital.

Financial capital, from the overall centralized management of family wealth, the distribution of a number of banks, securities companies, insurance companies, trust companies of the family financial assets into a family financial statements, through the selection and supervision of investment managers, the implementation of effective investment performance appraisal, to achieve the optimal allocation of family assets......"

Shen Beipeng glanced at Ding Siyao, who was giving a speech on the stage, and said softly to Zhang Yida: "Yes! This little girl is growing up very quickly! Did you propose this family office idea or did she propose it?"

Zhang Yida glanced at Shen Beipeng and said, "What's the matter? You are worth so much, you can also consider investing a little in the fire. ”

Shen Beipeng smiled and said, "It is rumored outside that I am worth tens of thousands of trillions. You don't think the same way they do, do you?"

Zhang Yida knows this stalk, and the investment of Black Shirt Capital is too successful, claiming to have bought half of China's Internet.

The market value of the domestic companies that hold shares adds up to tens of trillions, and some people on the Internet say that Shen Beipeng is worth so much.

As one of the four founders of Ctrip, Shen Beipeng had some shares in Ctrip when he started his business in the early years.

Later, he faded out of Ctrip and entered the venture capital circle, and these shares were also cashed out and diluted.

Now the majority of his assets still come from the fund dividends of Black Shirt Capital.

Shen Beipeng's specific worth, Zhang Yida can't guess accurately, but at least one or two billion US dollars to make a foundation.

"It's not easy for us to do some small business! In the final analysis, Black Shirt Capital is also a shareholder, so you can invest one or two hundred million dollars in assets to support it.

I plan to send Yimin Wealth to the market next year, and pack more concepts into it before listing.

You don't have to think about wealth inheritance in the future. Traditional industry bosses don't understand family offices, but you, the most prestigious venture capitalist, can't you understand?

You'll start with a few years of transition to a multi-family office. If you want to set up a personal family office in the future, don't you have the experience?"

Zhang Yida began to pull Shen Beipeng into the car, the reason was one by one, Shen Beipeng was speechless, he said: "Okay! Invest 100 million US dollars in assets, but you have to take care of it, this is all my pension money." ”

"Don't worry, I have $2.6 billion in assets in it, just to try the operation model of a family office. ”

Zhang Yida is still relatively relieved, and Yimin Wealth has been operating for two years, and there is no doubt about his professionalism.

If he loses money, he will admit it. How can there be no risk in investing.

"In the past 40 years of reform and opening up, the domestic economy has been rising, and a large number of outstanding successful entrepreneurs have come out.

But these entrepreneurs are also getting older, and they are all worried about business succession.

In 2013, Bank of China took the lead in launching the family office business, providing personal financial services, corporate financial services and value-added services for ultra-high-net-worth individuals and families through the "133" (a platform of Bank of China Group, three teams of banking professionals, consultants and overseas teams).

This marks the official launch of family office-type services in China through financial institutions.

In the same year, Anping Trust issued the first family trust in the Mainland, Anping Wealth • Hongcheng Family Series.

Here, let's take an example of a century-old Chinese family.

Founded in 1888, Lee Kum Kee made a name for himself in Guangdong with a bowl of oyster sauce, and gradually expanded his business to Macau, Hong Kong and Southeast Asia.

Today, Lee Kum Kee has been passed down for four generations, and the fifth generation is about to take over, which is a very representative case in the history of Chinese business.

The Lee Kum Kee family's 100-year history of escaping the curse of "no more than three generations of wealth" can be regarded as the practice of a family office, ensuring the long-term inheritance of the family.

Let me introduce to you the business structure and operating rules of the Lee Kum Kee family's family office.

Lee Kum Kee's development and succession spanning more than 100 years and spanning five generations has not been smooth sailing, during which time the family has undergone three changes, mostly due to family members' different understandings of the development direction of the family business.

Therefore, Lee Man Tat, the head of the third generation, felt that "business will only be good when the family is harmonious", and when he thought that he had four sons and one daughter, he realized that some rules must be established within the family to ensure that Lee Kum Kee and the family itself can continue healthily.

The first is the establishment of the Family Council as the highest form of organization for family governance. This reflects the concept of family capital in a family office......

Secondly, there are four institutions under the Family Committee: Family Office, Family Fund, Family Training Center and Family Investment Company, which govern the Lee Kum Kee Group......

They also made a family constitution...... The Lee Kum Kee Family Constitution has three special provisions on successors, namely the "Three No's Principle": no late marriage, no divorce, and no extramarital affairs.

Don't think it's outrageous, this is also the decisive significance of "family harmony" to the success or failure of a family after Mr. Li Wenda witnessed the decline of business and family decline caused by family discord among too many relatives and friends around him.

The Lee Kum Kee family also attaches great importance to family education......

In the summer of 2006, the Family Committee specially summoned these children from all over the world to Beijing to participate in the "Lee Kum Kee 5th Generation Tsinghua Summer School".

Mr. Li Wenda feels that through this training, the fifth generation of the family can deepen their identification with the motherland and deepen their identification with the family......"

Ding Siyao cited the case of the Lee Kum Kee family on stage, and Tian Desheng listened to it in the audience.

He felt that this trip was not in vain, even if he didn't know Liu Yonghao, Lei Jun and other bigwigs, it was worth just listening to this class.

In the past, he often heard that overseas Chinese families have been passed down for three or four generations, and he felt that the foundation of his predecessors was solid enough, and his descendants had received a high enough education.

Therefore, it is normal for the family business to be passed down for several generations, and it is not a big deal.

Now that I think about it, the design of the internal rules is really perfect enough.

Tian Desheng felt that his family should also use this model, and his junior, fourth, and fifth children gave birth to several children.

Before, he was still struggling with who to take over.

Now he is not entangled, he joins this family office, formulates the family constitution, and who will be the last to come out in the future, who will be in charge of the family business.

Others have no income, so they honestly receive a family trust, and they don't starve to death.

Liu Yonghao listened very attentively, he was born in the 50s and had been worried about his daughter's succession.

He felt that he could let his daughter participate in this family office, and after a hundred years, the family would continue to be rich according to the rules of operation.

As long as there is no big mistake, it should not be a big problem to be rich for another three or five generations.

Then it was Zhang Yida's turn to speak, and he smiled at the bigwigs and said, "Then I will also say a few words." I started in the financial business, and I know the truth that "you can't put your eggs in one basket".

So I put all my holdings in Yimin Netfinance, a total of $2.6 billion, to the joint family office to manage.

After TAhri went public, Boss Cai handed over all his shares in Ahri, a total of billions of dollars, to the family office to manage.

Pusi Capital, which is a son of the onion, can also be regarded as the family office of the richest man Wang's family.

Another example: the Dell family.

Starting with $400 million in 1998, the Dell Computer Family Office now manages more than $13 billion in assets.

Their family office has set up a 5-direction investment team:

Equity Investment Team.

A special opportunity is the Special Opportunities team, such as the recent European sovereign debt crisis, which has invested in the government bonds of countries on the periphery of the eurozone.

Real Estate Investment Team.

Private Equity Investment Team.

Cooperative investment team, this team mainly works with third-party hedge funds.

The capital market operation of the Dell family office not only increases the wealth of the Dell family, but also reduces the impact of fluctuations in Dell's performance on the Dell family's wealth.

In 2002, Dell's annual net profit growth rate was -42.8%, and the annual growth rate of Dell's family net worth was 14.3%, and the correlation between the two was very low or even negative.

Why is this happening?

Because of asset splitting and diversification, a family's wealth risk resistance has been greatly improved.

Family wealth and family business are independent of each other. Many of the big names who have shattered the myth of wealth in the past have not made this step.

Family offices are expensive to run.

Current assets are less than $500 million, and operating profit cannot cover costs.

This tool is a new thing in China, and my advice to everyone is: first form a joint office, and after three or five years of operation, everyone has experience, and if you have ideas, you can also set up a separate family office. ”

Zhang Yida's words made the rich people present think deeply.

Shopping malls are like battlefields, who can guarantee their longevity?

All the personal net worth is pinned on the family business, and if one move is not careful, the whole family will return to the pre-liberation period, which has also been staged in the business world in recent years.

After the reception, about a dozen families expressed their intention to join, and the amount was not large, so they tried the water, planning to invest one or two hundred million dollars to experience it.

Ding Siyao was very happy, and with Mr. Zhang's more than $2 billion, the assets under management of the Xinhuo Family Office were approaching $5 billion.

It can't be compared with foreign countries, and it is not small in domestic counterparts.