DL Holdings Group will engage in a strategic partnership with YF Life in the next three years, it said at the YF Life’s Innovation Strategic Partnership Conference, which was held in Hong Kong recently.
The two companies will aim to expand their client base in Asia Pacific and provide a range of services from insurance, investment, family office to asset management for high net-worth clients, according to a statement by DL Holdings.
DL Holdings will provide multi-family office and securities investment services for YF Life, with a focus on services that are not covered by traditional private banks and investment institutions such as alternative investment, asset management, identity planning, offshore trust, education, and philanthropy for YF Life’s high-end clients.
YF Life provides insurance products and aims to offer services in legacy planning and asset management.
“DL Holdings is a well-known listed investment and asset management company in Hong Kong with over a decade of experience and a solid client base in family office services. We believe DL Holdings will bring new opportunities and advancement to YL Life’s family office and investment business,” Zhang Ke, managing director and chief executive of YF Life, said.
“Insurance is a fundamental part and the most important protection in wealth management, especially in legacy planning. Therefore, the first thing we do for all our family clients is to curate appropriate insurance products that most suit their needs,” Andy Chen, chairman and chief executive of DL Holdings, said.
“Our strategic partnership with YF Life will not only bring a substantial enhancement in our insurance products and underwriting services but will also broaden our high net-worth client base and catalyse the expansion of our AUM,” Chen added.
The listed company of DL Holdings recorded a profit over HK$200m ($25.64m) in the fiscal year of 2021. DL Holdings engages in financial businesses including family offices, securities investment and private equity funds, and the total amount of assets under investment and consulting management has exceeded $3bn.
Registered in Hong Kong in 2012, DL Family office, a subsidiary of DL Holdings, is a multi-family office that oversees about $1bn assets. It provides services to more than 30 family offices, most of which are from mainland China and Hong Kong.