星展银行周邦贵：解码全球变局下的财富传承之道

Core Viewpoint - The global economy is at a critical juncture, with geopolitical uncertainties affecting capital flows and increasing market volatility, indicating a more intense game of opportunities and risks than ever before [1][3]. Group 1: Wealth Management Trends - High-net-worth individuals (HNWIs) are increasingly anxious, with 51% citing "global economic recession" as their primary concern, and 45% wary of "asset price revaluation due to interest rate fluctuations" [3]. - The current economic turning point is reshaping asset price logic, leading to a shift in wealth management needs and philosophies among HNWIs [3][6]. - The traditional low-risk investment products are under pressure as the yield declines due to the Federal Reserve's interest rate cuts, highlighting the need for wealth preservation [6]. Group 2: Structural Opportunities - Despite challenges, there are structural opportunities in sectors like technology, communication services, and healthcare, which maintain long-term growth potential due to innovation and resilient market demand [6]. - The focus should be on balancing risk exposure with potential returns, moving away from blindly chasing high yields to capturing certain opportunities while managing risks [6]. Group 3: Generational Shifts in Wealth Management - The rise of the "second-generation entrepreneurs" (创二代) is reshaping wealth management, as they embody both "heirs" and "innovators," redefining the boundaries and essence of wealth management [7][8]. - This group is more receptive to new economic trends and emphasizes sustainable development and resource conservation, with "business for good" becoming a core consensus [7]. Group 4: Evolving Client Needs - HNWIs' demands are expanding beyond wealth growth to include family protection, children's education, retirement planning, and asset inheritance, with a significant rise in cross-border asset allocation needs [9][10]. - The wealth management industry is becoming increasingly competitive, requiring banks to innovate service models to meet changing client preferences and investment structures [9]. Group 5: Comprehensive Service Framework - The service framework of the bank covers five major goals: family protection, children's education, retirement planning, asset inheritance, and wealth growth, providing a one-stop solution through various financial tools [10]. - The bank leverages Singapore's status as a global wealth management hub to offer a dual platform of "global resource connection + local service implementation" for Chinese HNWIs [10]. Group 6: Digital Transformation and Value Transmission - The wealth management industry is accelerating digital transformation, with a focus on utilizing big data and AI to enhance service efficiency and client demand analysis [11]. - True wealth transmission goes beyond mere asset transfer; it involves the continuation of family values, business vision, and social responsibility across generations [11]. Group 7: Future Outlook - The demand for diversified global asset allocation among Chinese HNWIs is expected to be a long-term trend, driven by deep insights into global economic patterns and investor philosophies [14]. - The bank aims to deepen its roots in China while enhancing international market connectivity to better serve the evolving needs of its clients [14].