The two Hong Kong firms have partnered to accelerate their family office business amidst the frequent fluctuations and increasing volatile sentiment of the current market. 

Hong Kong-listed wealth manager DL Holdings has entered a three-year strategic partnership with insurance provider YF Life – also based in Hong Kong – to grow services including those pitched at family offices and asset management. 

The partnership, which follows a meeting between the firms in Hong Kong last week, highlights the importance of insurance as part of the Asian wealth management toolkit, whether for structuring, risk mitigation or asset transfer.  

DL Holdings will provide multi-family office and securities investment services to YF Life. It said that it would concentrate on services for YF Life’s high-end clients which aren't covered by traditional private banks and investment institutions such as alternative investment, asset management, identity planning, offshore trusts, education, and philanthropy. 

The firms will explore and expand their client base in the Asia-Pacific region and provide services ranging from insurance, investment, family office to asset management for high net worth clients and their families. 

"YF Life strives to provide up-to-date insurance products and will make every effort to provide safe and robust services in legacy planning and asset management. Through a ‘strong, refined, fast, intelligent, and broad’ business approach, we partner with prominent institutional partners to expand YL Life’s circle of friends and influence,” Dr. Zhang Ke, managing director and chief executive officer of YF Life, said. “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.”

“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. As one of our trusted insurance partners, YF Life is one of the best insurers in terms of branding, quality of products and convenient customer services,” Andy Chen, chairman of the board of directors and chief executive officer of DL Holdings, said. “Our strategic partnership with YF Life will not only bring a substantial enhancement in our bespoke insurance products and underwriting services but will also broaden our high net worth client base and catalyse the expansion of our AUM.”

DL Holdings, which recorded a profit of more than HK$200 million ($25.6 million) in 2021, operates a range of businesses including family offices, securities investment and private equity funds. Its total assets under investment and consulting management exceed $3 billion. The group’s total assets and investment under management exceed $3 billion, including $1.4 billion under DL Family Office’s management. DL Holdings was founded in 2011. Besides its Hong Kong headquarters, it has offices in Shanghai, San Francisco, Singapore and Tokyo.

YF Life offers insurance products including annuity, universal life and critical illness products to individuals and corporates in Hong Kong, through its tied agents and brokers.