A six-month training program at Parsec’s headquarters in Asheville, North Carolina.
Contribute to the quality of life in our Xiamen community by donating 2% of all our profits to the local community, keeping in line with Parsec Financial’s existing promise.
Take steps to minimize our effect on the environment that is in-step with our Company Environmental Policy.
Through its long-term commitment to this mission, Parsec International will be known as a company offering long term profitable wealth management with exceptional service.
We will serve our clients with a proven wealth management track record by offering customized portfolios to best fit their needs, namely:
Portfolios that balance growth and value funds
Individual Stocks for the large cap portion of a portfolio
Fixed-Income allocated portfolios
“ M oney demands that you sell, not your weakness to men’s stupidity, but your talent to their reason. ”
-Ayn Rand
Parsec International’s Goals
In order for Parsec International to attain its vision as described in our vision and mission statements, we must achieve the following primary strategic goals:
Market: By the end of 2011, Parsec International will reach USD $10 million of AUM.
By the end of 2015 Parsec International will reach USD $100 million of AUM. To reach these customers, we plan to add have uniquely qualified financial advisors that have existing contacts and experience with the HWNI, Emerging-HNWI and Mass Affluent in Xiamen. We will also periodically advertise in financial publications in Xiamen to raise brand awareness of our customized financial services. After five years, we will expand our marketing efforts to include other tier-2 cities.
For 2012 (year 2) AUM will exceed USD $15 million, with revenues over USD $112,000.
For 2013 (year 3) AUM will exceed USD $25 million, with revenues over USD $187,000.
For 2014 (year 4) AUM will exceed USD $50 million, with revenues over USD $375,000.
For 2015 (year 5) AUM will exceed USD $100 million, with revenues over USD $750,000.
Finance: By the end of the 4th Quarter, 2015 Parsec International’s AUM will exceed USD $100 million. We will carefully evaluate, plan and budget expenses to generate a profit by the fourth year.
By the end of the 4th Quarter of 2017, Parsec International will be operating in another tier-2 city and have over USD $150 million in AUM.
In addition, Parsec will:
Continuously strive to understand our customers, competition & industry
Meet specific Chinese HWNI needs for portfolio investment
After 2015, achieve a stable 15% yearly growth in AUM
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Expand Parsec International in other Chinese tier-2 cities.
Continue to provide a check and balance system within Parsec, by maintaining a two financial advisor per customer minimum, to insure that our investors’ assets are being evaluated and analyzed sufficiently.
Develop company values and culture of “work hard, play hard”.
Continually scan the horizon for the best talent in Chinese wealth management.
We feel confident that our stated goals can be reached, based on the experience of our management team in environments where they managed profitable bond/FX funds in Taiwan and successfully marketed high end products to HNWI clients in Taiwan. Parsec International also realizes the importance of Parsec Financials 30 years of investment success. With Parsec Financials credible experience investing in the US market combined with Parsec International’s ability to glocalize to the Chinese market, Parsec International is sure become a prominent and profitable wealth management firm.
Objectives
Projected revenues for fiscal year 2011, without external funding, are expected to be USD $75,000. Annual growth is projected to double per year until year 2015. We feel that within five years Parsec International will be in a suitable position to expand our existing offices to other Chinese tier-2 cities.
At this time, our objective is to secure a prominent market position among HNWI, Emerging-HNWI and the Mass Affluent in Xiamen. Our research indicates that we should be able to meet or exceed projected revenues forecasted for each year.
In order to help attain our primary goal of reaching USD $10 million in AUM during the next year, Parsec International will carry out the following specific objectives:
Line up at least 5 million in AUM by December 2010 with the help of our partner Xiamen International Bank to hit the ground running.
Actively promote Parsec International in Chinese publications in Q1 2011.
Attend and host local financial seminars and lectures.
Actively participate in community events.
Promote a Public Relations blitz including TV shows, radio shows and local editorials (starring Bart Boyer, the face and brains behind Parsec).
Attain USD $10,000,000 in managed funds by the end of Q3 2011.
Convince existing clients to actively promote Parsec to friends and family to obtain a lower management fee.
To accomplish our next primary goal of more than doubling growth for the first 3 years, Parsec International will complete the following objectives:
Attain USD $12,000,000 in AUM by June, 2012.
Attain USD $13,000,000 in AUM by September, 2012.
Attain USD $15,000,000 in AUM by December, 2012.
Other objectives we have set for ourselves include becoming profitable by the end of year
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four and becoming a recognizable, prominent wealth management firm by the end of year five in the Xiamen area.
To achieve our objectives, we plan to establish strategic partnerships with Xiamen International Bank to build guanxi to attract new clients. We also plan to host financial seminars that will gain Parsec International notoriety within the Xiamen area. Parsec International will host client dinners, golf games and other promotional events to build stronger relationships and slowly gain incredible amounts of trust necessary to serve the HNWI populations. This will require dedicated team members that are charismatic, capable, intelligent, patient, empathetic and extremely driven.
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B B u u s s i i n n e e s s s s S S t t r r a a t t e e g g y y
"Strategy is concerned with drafting the plan...
shaping the individual campaigns and within these deciding on the individual engagements."
~ Karl Von Clausewitz, 1796
The idea for this business was catalyzed by the discovery of the large amounts of FDI (Foreign Direct Investment) pouring into China and its result of producing an alarmingly huge HNWI population. This HNWI population, coupled with the recent relaxation of China’s QDII regulations, makes China an ideal place to expand Parsec Financial’s wealth management expertise.
Parsec has a unique approach to the wealth management business as we do not “sell”
investment products like our competitors. In contrast, we are vested alongside our customers with our unique fee structure that makes our clients interest our own. That is what is most unique about our business strategy. In addition, Parsec International provides experienced, proven investment knowledge for a lower fee than the competitors.
To date, we have not encountered any other wealth management service in China offering a similar added value. Parsec fully intends to establish itself as the source of choice for asset management in the personal finance industry by first gaining a strong reputation in Xiamen.