Best independent wealth manager for HNWIs 2018
New York-listed Noah Holdings has won more high net-worth clients than its domestic peers. It continues to expand its customer base at a rapid pace, supported by its extensive business network and strong service capabilities.
The number of Noah’s registered clients has risen substantially in the last three years. At the end of 2017, Noah had registered 186,918 HNW clients, each entrusting assets worth Rmb10 million ($1.6 million) or more to the firm’s management, up 38% from a year earlier and nearly double the figure of two years ago.
Noah has also attracted far more ultra-high net-worth clients than its domestic peers. By the end of 2017, it had more than 100 family office-level clients, each with AuM of at least $500 million, and more than 700 so-called ‘black card’ clients – each with AuM of more than Rmb500 million.
Noah has an extensive business network among domestic independent wealth managers and continues to expand its network’s geographical coverage in China to make its services easily available to more HNW clients, especially those in inland regions.
At the end of 2017, its network consisted of 237 offices in 79 domestic cities, up from 185 offices in 71 cities a year earlier. With headquarters in Shanghai, it has also established 11 regional centres across China to strengthen the management of its domestic operations.
Last year, it also opened new offices in the US, Canada and Australia to expand its overseas business network.
Noah has been granted licences by regulatory authorities in and outside China for a wide range of businesses, including family offices, trust, education, insurance brokerage, mortgages and car leasing.
The firm had 1,335 dedicated relationship managers to serve HNW clients at the end of 2017, up from 1,169 a year earlier. All this has meant that Noah is well-placed to serve HNW customers.