Family offices primarily provide wealth management services.

What is wealth management?

Wealth Management vs. Asset Management

In the financial sector, there are two broad categories: asset management and wealth management.The core of asset management is the product.

For instance, public mutual funds and private equity fund companies deal with fund products.

Bank wealth management is similar in this regard.

The essence of wealth management lies in the service.

To a certain extent, fund advisory services fall into this category.

For example, providing investors with guidance on the proportion of fund purchases and selling to take profits is a service provided by fund advisors.

Fund advisory is a very important part of wealth management.

In addition to this, there are many other wealth management needs.What matters belong to wealth management?

For instance, consider divorce.

Divorce can have a significant impact on family wealth. If not handled properly, one might experience a major stock market crash more than others.

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Moreover, it can lead to lengthy and complicated disputes, which can also affect the quality of life.

Another example is the distribution of inheritance.

Inheritance can also have a substantial impact on the wealth of a family. If not managed well, it can lead to disputes among family members and affect the harmony within the family. Proper planning and legal guidance are crucial to ensure a fair and smooth distribution of assets.Some individuals start a company that performs well financially. When they are nearing the end of their life, how should they divide the company among their children?

If not handled properly, it could also lead to the disintegration of the family.

Some lawyers specialize in providing wealth management services from perspectives such as divorce and inheritance.

These also fall within the scope of wealth management.

Family wealth, family members, family business, and family culture

Broadly speaking, wealth management can be divided into the following segments.（1）Family Wealth: Primarily asset allocation.

By utilizing tools such as funds, complete the allocation of family wealth and achieve long-term appreciation.

（2）Family Members: For instance, education, academic planning, insurance planning, and medical planning.

For example, some organizations will plan schools and majors for college entrance examination (Gaokao) students.

The Gaokao is a significant life event, and making the right choices can greatly impact the value of human capital assets.

Another aspect is insurance and medical planning.Birth, aging, illness, and death are experiences that every family will encounter. By means of insurance and medical planning, the losses brought to families by these life events can be significantly reduced.

(3) Family Business: Career planning.

For those who are employed, considerations include what industry to work in and what the future career advancement path might look like.

For entrepreneurs, considerations involve how to manage their own businesses, as well as issues related to business financing, going public, and legal consulting.

This also includes estate planning, which is about how to pass on this family business to future generations.

Another very important area that concerns everyone is tax planning.For example, the personal pension account introduced at the end of 2022. If used properly, it can be helpful in optimizing personal income tax.

(4) Family culture: This is a bit more abstract.

However, in the long run, it is actually very important.

This is because family culture represents the values and vision of a family.

The construction of family culture has existed since ancient times.

Famous examples include works like "Letters from Zeng Guofan." In some rural areas in the south, some families still preserve family trees and ancestral halls.

In modern society, there are similar concepts. For instance, the core values of society.For every small family, it is the same.

Some parents will tell their children that they should help each other, be loving towards their siblings, and be filial to their grandparents.

These are all very important aspects of family culture construction.

However, some families only talk about it without systematically organizing it.

If it is put on paper, it may evolve into family rules.

Parents will have a day when they pass away, but these values will not.

Future generations, not everyone may achieve great success in their careers, but they can all become kind and good people.Fundamental Asset Allocation

Of course, the most important aspect of wealth management institutions still lies in "wealth".

Almost every large wealth management institution, in the end, will engage in asset allocation based on funds and the like.

This is also what Screw is doing.

As for the rest, career, tax, legal, medical insurance, etc. ···

For example, when there is a demand, appropriate professional organizations can be provided. It can also solve similar needs.Please provide the text you would like translated into English.