CICC Wealth Management continued to grow rapidly despite the extremely challenging market of the past year.
Digital transformation is a key long-term strategy for its wealth management business. Around 80% of its client base is now served by its digital platform, which has grown from 3.27 million users in 2019 to 6.7 million today. CICC has introduced new initiatives such as the ‘wealth planning management account’ and ‘proprietary fund selection tool’, to refine the one-stop user experience. This has resulted in 1.16 million monthly active users of the app and a 40% surge in user activity.
CICC Global Family Office (GFO) is leveraging the firm’s global resources in serving entrepreneurs’ overseas assets. By December 2023, the GFO had established family trusts with a total value of over Rmb20.2 billion ($2.8 billion) and tailored philanthropic frameworks and donation pathways that align with entrepreneurs’ primary businesses.
CICC Global Family Office is leveraging the firm’s global resources in serving entrepreneurs’ overseas assets
The firm assists clients in coordinating the establishment of charitable trusts and provides investment advisory services for the underlying assets of these trusts.