Standfirst: On March 13th, 2015, Industrial Bank Private Banking have officially signed the first ever contract in Family Trust. Collaborating with China Industrial International Trust, utilizing the advantages of a well established corporate platform, Industrial Bank Private Banking have made customized family wealth project and management plan for our customers, Taking a new step in safeguarding the wealth and servicing our high end clients.
March 13th, 2015, Industrial Bank Private Banking have signed and sealed the papers of the first ever Family Trust contract. Industrial Bank Private Banking used the fine tuned corporate platform worked alongside with the China Industrial International Trust, to materialize the customized family wealth project and management plan. Industrial Bank Private Banking customer service specialist can now use the Family Trust tools to provide tailor-made wealth plans to help our clients to assist in inheritance, diversify risks, and maintain net worth. This signifies a new level of service that Industrial Bank Private Banking can provide to our High Net Worth Individuals (HNWIs).
The recognition of the service Family Trust can provide is on the rise among HNWIs and the banker. With their wealth continuously accumulating and their numbers growing and aging, the time for the HNWIs to talk inheritance is now. As a flexible tool to place your inheritance in, Family Trust will be walking into its golden age, fast becoming the new "Blue Ocean" for private banking services. Currently, many private banking and trust companies are testing the waters in this particular field.
Family Trust has institutional advantages when it comes to actualizing wealth preservation and inheritance. The Trust can act as a guardian to the estate. The Family Trust can isolate bankruptcy risks, avoid debtor’s collection, and avert the separation of property due to marriage of the family members and investment lost under family member’s management. Compared with the traditional forms of inheritance tools like insurance and will, Family Trust is a more flexible mechanism, that allows the wealth to be assigned to its beneficiary according to the principal’s wishes, while both parties remain completely anonymous.
The principal of the first contract was a private banking customer from Industrial Bank Xian Branch. Industrial Bank maintains a clear communication channel with our clients, understanding their true needs, and provide Family Trust service to help customers to set up prenuptial agreement, and providing support for the future of their children. Industrial Bank Private Banking has garnered customers respect in providing professional consultation services as Family Trust representatives. General Manage Xue, Ruifeng of Industrial Bank Private Banking Department has stated: ''(I) hope with our all the power that is in us, Industrial Bank Private Banking can provide more exclusive services to our high-end customers in the future. And make Industrial Bank a member of your family!"