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Yiren Digital and Principal Financial Group enter into strategic cooperation

Yiren Digital has announced that its wealth management platform Yiren Wealth has entered into a strategic cooperation agreement with Principal Global Investors, a subsidiary of Principal Financial Group, a global investment management leader offering asset management, retirement services and insurance solutions to institutional clients, businesses and individuals.

The partnership will open up a decade-long strategic business deployment in China’s retirement financial service market, helping China’s mass affluent population better prepare for retirement.

To meet the growing demand for retirement solutions in China, both parties will use their collective expertise and resources in FinTech, asset allocation and digital wealth management to develop customised investment products and solutions as well as promote the development of China’s retirement financial service industry.

The two sides will also strengthen exchanges in personnel cultivation and training and top expert resources will be introduced into Yiren Wealth to develop highly professional team for pension and retirement solutions.

Ning Tang, CEO & Executive Chairman of the Board, Yiren Digital, said “As a leading digital wealth management platform in China, Yiren Wealth provides one-stop wealth management solutions to the mass affluent, helping them to achieve their key life goals. Retirement planning is becoming increasingly important for Chinese population amidst China's rising pension system challenge. Principal is a global leading financial services firm with world-class expertise in customising retirement solutions for clients with all income and portfolio sizes. Through this partnership, Yiren Wealth and Principal will be better positioned to fill this market gap. We look forward to working together to help Chinese investors better prepare for retirement.”

Yiren Wealth aims to serve the mass affluent by providing safe, professional digital wealth management services through asset allocation strategies. Through short-term, medium-term, long-term, and sustainable investment portfolios, Yiren Wealth helps investors realise different life goals including asset accretion, retirement planning, children's education and wealth inheritance. Yiren Wealth leverages FinTech solutions to drive innovations in wealth management and provides customised services to help build and manage wealth and improve people's lives.

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. The firm’s employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible.