A family office is a private organisation that, like a butler, is made up of experts in different fields and industries. It oversees and manages the finances, health, risk management, education and development of the entire family, with the goal of assisting the family in achieving success and smooth development.
At the same time, the family office has impartial advice and objectivity. They integrate and coordinate the services provided by other consultants in the family to provide highly personalised services for generations of the same family.
The world's first family office was established by John D. Rockefeller in 1882, code-named 'Room 5600'. It is known as the operating hub of the Rockefeller family and has provided tremendous help for the development of the Rockefeller family.
Over the past century, the family office model has become the main way for wealthy families around the world to pass on family wealth.
Many families in Hong Kong have followed suit.
After all, this model is more private than bank investments and trusts.
There are two basic types of family offices: single-family offices and joint family offices.
The former serves only one family and is bound to a certain family, helping the family achieve wealth management goals in a safe environment without conflicts of interest, achieve family management and inheritance, and protect the family's ideals and dreams.
The joint family office, on the other hand, serves multiple families and has evolved into an extended wealth management model. Compared to the single family office, the joint family office focuses mainly on profit and wealth appreciation.
However, for the time being, Xia Yu believes that his strategic vision is unique in the world.
As the founding father of a brilliant and powerful business empire, the family office only exists to assist him, saving him from unnecessary time-consuming tasks, filling in the gaps, and providing help with the details.
Of course, perhaps after he is gone, if his descendants are not as capable as he was, then the main role of the family office will be to help the Xia family expand on the foundation they have built.
The selection of Fok Kin-ning as the head of the family office is just the beginning.
The Xia family's family office also needs to establish a special family office committee, and then have dedicated personnel in the fields of education, life, taxation, law, accounting, investment planning, trusts, securities, insurance, funds, banking, etc. serve as committee members, responsible for liaising and mobilising Xia Yu's resources in various fields.
It is a very tedious task to select qualified personnel in various fields as retainers.
However, this is a plan for the next hundred years, so no matter how troublesome it is, it must be done patiently. Every layer must be checked to prevent infiltration by hostile forces, and to avoid the huge hidden dangers of using the wrong people.
Two days later, Huo Jianning compiled the information on the various senior executives of Tiangong Electronics Group, and also clearly marked their strengths and weaknesses, before presenting it to Xia Yu.
Huo Jianning recommended Han Delin, the vice president of Tiangong Electronics Group, a 43-year-old middle-aged man.
The evaluation was that he had outstanding management skills, a good understanding of technology, a broad perspective and a pioneering spirit.
Xia Yu had previously come into contact with Han Delin, and knew that he had joined Tiangong Electronics Group through the recruitment agency Korn/Ferry.
Xia Yu did not object and directly approved Fok Kin Ning's recommendation, appointing Han Delin to replace Fok Kin Ning as president of Tiangong Electronics Group.
After Fok Kin-ning took office, Xia Yu asked him to be responsible for producing a complete organisational structure and rules and regulations for the family office, for reference only, and as a way of training Fok Kin-ning.
On the 6th of August, the tenth day of the seventh lunar month, an auspicious day for marriage, sacrifice, praying for blessings, fasting and praying for recovery, and healing...
On this day, Xia Yu brought along Li Qian, as well as his parents, to attend Xia Jun's son's first month celebration.
When Xia Yu and the others arrived, they saw Xia Jun and his wife, as well as his parents, standing in front of the hotel, beaming as they greeted the guests.
After seeing Xia Yu's family, Xia Jun hurried over to greet everyone.
'Uncle and aunt, Ah Yu, Miss Li, you're here!'
'Jun'er, congratulations, you've become a father.'
'Jun, congratulations!'
'Thank you, thank you...'
After a round of pleasantries, Xia Yu's parents and others greeted Xia Jun's parents.
At this time, Xia Jun's wife, Li Hanyue, greeted Xia Yu while holding the baby in her arms. Xia Yu responded and then asked, 'What's the baby's name?'
Xia Jun smiled and said, "Guangyao. Guangyao, which means "glorious light' and 'glorifying the ancestors'. I asked Master Li to pick it out. It happens that the baby's birth chart lacks fire, and this name makes up for it.'
'What a good name, 'glorifying the ancestors' is great!'
'Haha, look, he's still looking at me, his eyes are so lively.'
'Little Guangyao, your father is now a police superintendent. When you grow up, work hard and surpass your father.'
'Uncle will give you a jade pendant to wish you healthy growth.'
Xia Yu laughed, leaned closer to look at Xiaoguangyao, and discovered that he was looking at him with innocent eyes. A child's eyes are the most healing.
After Xia Yu finished speaking, Li Qian, who was standing nearby, opened the box and took out the prepared jade pendant with an emerald-green Guanyin, which she handed to Xia Yu, who then placed it in Xia Guangyao's arms.
'A Yu, thank you!'
'Thank you, little brother-in-law.'
Xia Jun and his wife hurriedly thanked Xia Yu.
'We're all family, don't be so formal.'
'Okay, we'll go in first, you entertain the others first, we'll talk later,'
Xia Yu said with a smile, and led Li Qian and his parents into the hotel.
The full-moon banquet that Xia Jun had organised for his son was not particularly large in scale. Apart from a crowd of relatives from both sides, there were also some good friends from the police station.
Xia Yu saw Li Junxia there.
However, after just nodding to him, Xia Yu walked over to another place, because Xia Lei was there, and they had not had a chance to chat for a long time.
...
It was about 1:30 p.m. before Xia Yu's parents finished chatting with Xia Jun's parents, and the group set off home in the extended Rolls-Royce.
But while in the car, Xia Yu's mother, Chen Mei, meaningly sighed to her husband, Xia Dahai, 'Jun was just promoted to Superintendent in May, and in June he had a son.'
'Hong's husband and wife have nothing to worry about for the rest of their lives, and they can rest assured of having grandchildren. In the future, it will be hard for me to chat with her.'
Xia Dahai glanced at his son and Li Qian in the front row, and then said, 'What's there not to talk about? Junzi has achieved so much today not only because of his own hard work, but also thanks to Yu's support.'
'Xia Hui and Yu Hong know exactly what's going on in their hearts. Whenever you visit, they always treat you warmly,'
Xia's mother, Chen Mei, retorted, 'That's what they say, but I don't feel comfortable about it. Just now, Sister Hong casually asked me when I was going to have a grandchild. I could only say, "Not just yet". After all, the marriage hasn't even happened yet, so it's hard to say when I'll have a grandchild...'
...
Xia Yu, who was sitting in the front row, could tell that his parents were singing a duet, and he was clearly irritated.
Xia Yu couldn't help but smile wryly.
He looked at Li Qian next to him, but she was pursing her lips, her face a little gloomy, and her eyes were a little red.
Xia Yu felt a pang of pain, thinking that Li Qian usually spent more time with her parents than she did, and she must have been affected too, she just didn't say anything to him.
And just now, Li Qian spent most of the time with Xia Jun's wife Li Hanyue, and she was even holding little Guangyao, so it was clear that she really liked children.
Xia Yu embraced Li Qian in his arms, patted her hand gently, and whispered in her ear, 'Qianqian, it'll be soon.'
Li Qian trembled a few times, and Xia Yu then felt a warm current in his chest.
Xia Yu let out a long sigh and made a decision.
'Dad, mum, I'm a bit sleepy, I'll take a nap in the car.'
'Okay, then you get some rest.'
The car instantly fell silent. Xia Yu's parents, sitting in the back row, looked at each other and then at each other again, speechless.