Best trust firm in wealth management 2019
Avic Trust, co-founded by China State Aviation Industry Group and Singapore’s OCBC Bank, is one of the top 10 trust companies in China. Avic caters to high net-worth individuals who want to set up family trusts. Such trusts have at least Rmb10 million ($1.4 million) in assets, and Avic offers both onshore and offshore financial planning.
Founded in 2009, the company manages total trust assets of Rmb648.9 billion, and over the last decade has helped its clients make net gains of Rmb112 billion. Even though it is not the biggest trust company, Avic has been one of the most innovative in terms of providing services for women clients: 63% of Avic’s customers are women, and Avic caters to them in 20 wealth management centres across China.
Avic has wealth management centres in Beijing, Shanghai, Shenzhen, Chongqing and Chengdu, as well as in secondary cities where large numbers of entrepreneurs have prospered. It hosts family and charitable trust activities to help clients manage their wealth and share it with good causes.
Given the rapid development of digital finance and the rise of service trusts in China, Avic Trust, led by its chairman Yao Jiangtao, has launched a number of innovative wealth management solutions integrating financial management trusts, wealth trusts, and family trusts. It also is actively forging ties with a range of investment banking partners as it aims to provide its clients with a wider range of what it calls “multi-tools” to handle investments in multi-asset classes in markets both onshore and offshore China.