Home » CITIC Securities Pi Shun: Fund investment advisory business will become an important milestone in the transformation of securities firms’ wealth management

CITIC Securities Pi Shun: Fund investment advisory business will become an important milestone in the transformation of securities firms’ wealth management

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Caijing News “Entrusted by the forum, I will briefly talk about the ways in which brokerages help residents increase wealth. New tools and new businesses are called fund investment consulting, a new blue ocean of financial management. Times provides us with a path, namely fund investment consulting. Business, it will become an important milestone and a new tool for the entire broker’s wealth management transformation.” On July 24, Pi Shun, head of the investment advisory department of CITIC Securities Wealth Committee and executive general manager, said at the “2021 Qingdao·China Fortune Forum” .

Pi Shun said that the new paths, new tools, and new businesses for residents’ wealth appreciation are called fund investment advisory, and the four dimensions of fund investment advisory selection are called “investment, advisory, technology and application.” Investment advisory brokers have good investment capabilities and advisory teams, and they have the opportunity to increase the wealth of residents and do the best fund investment advisory.

What is the biggest challenge in the transformation of wealth management of securities firms to increase the wealth of residents? The product is good and the revenue is good, but it cannot attract customers. The times provide a path to fund investment advisory business, which will become an important milestone and new tool for the entire securities firm’s wealth management transformation.

How to choose a fund investment adviser to do a good job in wealth management? These brokerage institutions mainly choose from four dimensions for investors. The first investment aspect is excellent or not. This determines whether the relevant investment department, asset management department, and relevant asset department are excellent in the entire market; second, “three points of investment, seven points of care”, who has a large team of investment consultants, can become the residents’ account financial management ; The third is science and technology. In order to achieve mass scale efficiency, the best assets that can realize wealth will be invested, but without technology, these assets will be invested in residential accounts. This is another problem of inefficiency; Fourth, we need to use the AA-rated or above of the outstanding brokerage brokers. The investment advisory brokers have so many asset scales, customer scales and multiple accounts, which can make the residents’ user experience the best.

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The following is a partial record of the speech:

Pi Shun: I was commissioned by the forum to briefly talk about the ways in which brokers help residents to increase their wealth. New tools and new businesses are called fund investment advisory, a new blue ocean in financial management.

First of all, from the perspective of the large demand for wealth management, the country’s entire economy has reached 100 trillion yuan. The economic volume brings residents’ income, which must call for huge residents’ property income. Macro aggregate demand has already rolled in. Everyone will Embrace the big market of wealth management. From the perspective of the demographic structure, the most flexible group has a large number and rapid growth in China today, and has a huge demand for high-quality financial services. At the same time, we see that the total amount is high-end and aging, from the first generation to the rich second generation. In the process, the demand for professional financial management, wealth management, and wealth inheritance is also coming.

Second, the system. In the past, financial management was dominated by the bond market and banks as the system, and the third level began to pass. The new rules on asset management at the institutional level will expire in 2021. Anyone who manages financial affairs must move closer to brokers and accept fluctuations in net worth. Whoever manages the fluctuations in net worth more stably and at the same time gives residents better income is the best wealth management for residents. housekeeper.

Third, the dimensions. From a historical perspective, a major trend in wealth management is a kind of equity market, which has become the main battlefield of wealth management. We have experienced the era of leveraging credit and the era of traditional infrastructure in the past. We must begin to face the Chinese dream. China’s innovation and Chinese creation must begin to lead the era in the world. The capital market will inevitably become the largest carrier of residents’ wealth management. Brokerage firms are the best wealth stewards of residents. This is the trend.

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But we want to see this environment, what is the environment? When our people are standing in history singing and searching for the alpha of the times, we are still thinking about the past, and the financial assets and wealth management environment are changing rapidly. Today’s venue must be the venue with the highest gold content, because it is close to your pockets and is a starting point in the transition from residents’ labor income to property income.

Fourth, the dilemma. The capital market has been developing for 30 years in the past, but why did it not play an important role in the big field of wealth management? A very important reason is the long-term high return of stock assets, but its volatility is so great that most people cannot control it. It is the dilemma we encountered. However, we have seen that in the past, especially in the past 2019, 2020, and 2021, the productization and institutional investment of the capital market is being deeply rational, and the benefits of productization and institutionalization are very high.

We are now transforming the wealth management of securities firms to increase the wealth of residents. What is the biggest challenge in the whole? The product is good and the revenue is good, but it cannot attract customers. Productization can prevent the performance of a single stock from exploding. With product methods, although the purchase is very good, it is still a year or a year and a half if it is bought for half a year, so as to retain customers. The times provide us with a path, that is, the fund investment advisory business, which will become an important milestone and new tool for the entire securities firm’s wealth management transformation. It is to entrust this matter to a professional brokerage firm to take care of and take care of it. What is the product being taken care of? It is a product form with public funds as the main body. But several problems need to be solved. The first one to solve the high volatility of a single stock is to solve it with products. The initiative is in the hands of the residents, and the professional rights are given to the professionals. This is an important tool for capital investment advisory, the realization of wealth management transformation, and the realization of residents’ appreciation.

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How to choose a fund investment adviser to do a good job in wealth management? These brokerage institutions mainly choose from four dimensions for investors. The first investment aspect is excellent or not. This determines whether the relevant investment department, asset management department, and relevant asset department are excellent in the entire market; second, “three points of investment, seven points of care”, the key is not to say that many good people are often encountered, but they often make mistakes. Hold, then “Gu”. Whoever has a large team of investment consultants can become the financial management of residents’ accounts; the third is the use of technology. To achieve mass scale benefits, the best assets that can achieve wealth will arrive, but there is no use of technology. Putting these assets into residential accounts is another problem of inefficiency. Fourth, there is also the use of outstanding brokers with AA ratings or above. Investment consultants have so many asset scales, customer scales, and multiple accounts. Do the best for residents’ user experience.

Entrusted by the entire forum today, I will share a little bit of thoughts. The path of wealth management is called fund investment advisory. The four dimensions of fund investment advisory selection are called “investment, advisory, technology and application”. Investment advisory brokers have good investment capabilities and advisory teams, and they have the opportunity to increase the wealth of residents and do the best fund investment advisory. Thank you everyone.

Sponsored by the Qingdao Municipal People’s Government and hosted by Caijing Magazine and Caijing Think Tanks, the 2021 Qingdao China Wealth Forum was held in Qingdao, China from July 24 to 25. The theme of the forum was “New Era, New Wealth and New Management”.

(The views of the guests are sorted out according to the on-site speeches, without confirmation by the spokesperson)

(Edit: hongguan)

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