Research On Business Development Strategy For Family Office In ZR Trust

The global political and economic situation has changed dramatically since 2018,and China’s economic environment has also faced unprecedented challenges in recent years.In the baptism of market shock,China’s ultra-high net worth(u HNW)people have further deepened their awareness of ensuring property security and recognized the necessity and urgency of implementing wealth inheritance arrangements as soon as possible,directly promoting the blowout development of the family trust industry.Facing the growing demand for wealth inheritance from Chinese high net worth people,the Chinese family trust business is facing unprecedented development opportunities and major challenges.As an important participant in China’s trust industry,ZR Trust established a family office in 2014 in order to help ultra-high-net-worth customers solve family wealth management and inheritance issues.ZR Family Office is a full-time department of ZR Trust to carry out family wealth inheritance business.Adhering to the innovative concept of continuous innovation,it mainly provides diversified services for family asset management and inheritance.Internationally,family offices,as the highest wealth management form of family trusts,are recognized by the industry as the inevitable direction for the future development of family trusts.However,there is fierce competition in the domestic family trust business market from banks,insurance companies,third-party wealth management companies and similar trust companies that are leading private banking businesses.How family offices can leverage their organizational advantages and professional capabilities to improve the economic vitality of family trusts in the capital market will have a positive and far-reaching role in promoting the development of domestic family trusts.Therefore,this thesis first introduces the background and significance of the research topic based on literature research.Secondly,it reviews the basic concepts of family trusts and the theoretical foundation of the research topic.Thirdly,it summarizes the current status of the business of ZR Trust Family Office and identifies the problems in the development of its business through interviews with clients and wealth advisors.Then,using the PEST model and SWOT model,it analyzes the external macro environment of the trust business and the industry micro environment of the family office.Finally,based on the results of the business environment analysis,it completes the market segmentation of the family office,as well as the selection of target market and market positioning.Based on this,it optimizes the marketing planning and provides an optimized design process for both standardized and customized family trust schemes as an example for product strategy optimization,analyzes the investment portfolio and risk management of the designed schemes,and proposes targeted business development security measures.Finally,it concludes the research work of this article,explains the shortcomings of existing research,and looks forward to future research directions.