BEST WEALTH MANAGER – CHINA DOMESTIC
NOAH PRIVATE WEALTH MANAGEMENT
Unprecedented economic growth in China has created profound opportunities for private banks and wealth managers to harness a HNW market that, by global standards, remains severely underpenetrated. And as the first private wealth manager in China, Noah Private Wealth Management has enjoyed something of a first-mover advantage.
Even so, Noah PWM has continued to develop and refine its offering to remain at the forefront of the Chinese wealth management industry, boasting a differentiated and innovative product platform, a strong talent pool and second-to-none coverage of China’s complex human terrain.
Noah PWM has a client pool of over 110,000 clients (over half of which are business owners) with average investable assets of over US$30 million and a demonstrated track record of transacting. Moreover, the firm’s penetration of Chinese HNW clients is not limited to tier one cities, but rather includes second and third-tier centres where China’s entrepreneurial verve is in full swing and the demand for quality investment opportunities remains unsated. Its team includes 1,098 relationship managers (RMs) with a remarkable 0% turnover rate amongst high-performing RMs.
Noah PWM has carved out a name for itself by bringing to clients exclusive opportunities, particularly in the private equity, hedge fund and real estate spaces, leveraging Noah’s asset management arm, Gopher Asset Management, and partnerships with leading global players. And its ethos is simple: if it takes care of clients’ money, the rest will come. To this end, the firm employs a stringent and rigorous, multi-step due diligence process on all products to ensure that only best-in-breed solutions reach the shelf.
2016 will go down as a formative year for the Noah Group as a whole. Now more than ever, Chinese investors are looking to diversify internationally. Understanding this, Noah became the first Chinese wealth manager to establish a Silicon Valley office with a complete investment team and to obtain a trust licence in Jersey. It continues to grow its Hong Kong-based business at a rapid clip and was the first Chinese wealth manager to obtain Type 1, 4, 9 licences from Hong Kong’s Securities and Futures Commission.
“We believe the China onshore market is one of the most important wealth markets globally. Noah has been a leader and pioneer in private wealth services in China for 14 years”, says Kenny Lam, group president, Noah Holdings. “We will continue to focus on what is most important – long-term stability, value for our clients, and continued innovation in products and services.”
Noah Private Wealth Management is Asian Private Banker’s Best Wealth Manager – China Domestic for 2016.