Chinese high net worth and ultra high net worth individuals are increasingly seeking a full suite of global wealth management services, according to the findings of the report The Internationalisation of Chinese Wealth.
Based on proprietary research conducted by Jersey Finance and Hubbis, a provider of events and content for Asia's Wealth Management community, the report sought the views of advisers in Hong Kong and Singapore.
Key findings include:
- 80% of respondents said that, combined, a lack of good advice and starting a discussion about international wealth were the two most significant hurdles holding Chinese clients back when it comes to wealth transition
- the biggest misconception Chinese families have with international wealth structuring is that it involves a "loss of control" (72% of respondents)
- that maintaining compliant structures in an increasingly transparent and compliance-driven world is a major challenge