The first batch of brokers and banks will win the pilot qualification fund investment adviser and fight each other

category:Finance
 The first batch of brokers and banks will win the pilot qualification fund investment adviser and fight each other


On October 25, 2019, the CSRC officially issued the notice on doing well in the pilot work of investment consulting business of publicly offered securities investment funds. E fund, southern fund, Huaxia wealth, a wholly-owned subsidiary of Huaxia Fund, Zhongwei qiangunroll, a sales subsidiary of China Europe Fund, and Jiashi wealth, a wholly-owned subsidiary of Jiashi fund, have applied for the pilot and completed the filing, and will take the lead in the development Pilot work of investment advisory business.

On December 13, 2019, less than two months after the above-mentioned five fund companies and subsidiaries obtained the pilot qualification, the second batch of fund investment pilot officially opened, and the long-awaited tengan fund, ant fund and yingmi fund in the industry obtained the pilot of fund investment business qualification. All of the three institutions are independent fund sales agencies, and they are also the leaders of fund sales agencies on a commission basis. They have almost achieved full coverage of all open-end funds in the fund industry.

After the independent fund sales agency obtained the pilot qualification of investment adviser, the industry heard that Ping An Bank was applying for the pilot qualification of fund investment adviser. Later, the relevant principals of Ping An fund confirmed this news, and Ping An Bank is also expected to become the third group of institutions that won the pilot qualification of investment adviser. Indeed, Securities Daily reporter recently learned that Ping An Bank and China Merchants Bank appear in the new batch of fund investment pilot qualification list, and some banks long-standing online intelligent investment service can finally show their skills.

In addition, with Ping An Bank and China Merchants Bank, there are seven securities companies that have obtained the pilot qualification of investment consulting. Galaxy Securities, CICC, CSCEC, Shenwan Hongyuan, Huatai Securities, Guotai Junan and Guolian securities have become the first batch of securities companies that have obtained the pilot qualification. So far, fund companies, independent fund sales companies, banks and securities companies have all obtained the qualification of pilot fund investment advisers, and the buyers investment adviser service has officially upgraded to a fight situation.

Four types of institutions have their own advantages

At present, the time difference between the four types of institutions to obtain the pilot qualification of fund investment adviser is not long, and there is no first mover advantage to talk about. According to the analysis of Securities Daily, experts in the industry said that fund companies, independent fund sales agencies, banks and securities companies have their own strengths in various fields and have different advantages in carrying out fund investment consulting business.

Among the fund companies, 5 fund companies are the first to obtain the pilot qualification. Huaxia Fund, Harvest Fund, e fund, South Fund and China Europe Fund are all old public fund companies in the industry. They have a better understanding of the fund product operation, investment strategy and fund manager style of their subsidiaries or other fund companies, and can fully consider the advantages and disadvantages of various fund products To make the best combination strategy in different market opportunities.

Independent fund sales agencies are the most expected institutions in the industry to provide investment advisory services. Tengan fund, ant fund and yingmi fund joined in the pilot project of investment consulting, and carried out accurate customer portraits, which helped to promote the fund sales agencies to change their business model, adjust the charging mode from the collection of product sales fees such as purchase and redemption, to the collection of investment advisory fees according to the scale of assets held by investors, and to provide conditions for the cultivation of buyer intermediary agencies representing the interests of investors.

Securities companies are the closest to their customers. They have explored the road of wealth management for more than ten years. The research reports and gold stock recommendations launched by securities companies in the secondary market have been highly praised. Professional investment research team and accurate market judgment will become the biggest killer for them to carry out fund investment services. I believe that in the near future, the securities companies will launch a higher quality and more efficient fund portfolio, and the buyers investment business will become a new choice for the wealth management of securities companies.

The biggest advantage of the bank is the huge customer group behind it, with the largest offline investment service system. The stickiness of high net worth customers to the banking system and the dependence of elderly customers on offline banks provide a better starting point for banks to carry out fund investment services. With the low rate of return of bank financial products and the popularity of net worth financial products, the fund portfolio with high return and low volatility is expected to become a new choice for a large number of bank customers.

All agencies move quickly

In fact, some institutions have rapidly started to explore investment advisory services after obtaining the pilot qualification, launched their own investment advisory brands, and the securities companies that have just obtained the pilot qualification of fund investment advisory have already carried out preparations such as employee training.

Huaxia Fund and South Fund took the first action. In December last year, they successfully launched a series of investment advisory service products, providing different fund portfolio schemes for various individual investors according to different demands and different risk preferences. Huaxia wealth launched offline investment consulting + online Charlie intelligent financial manager, equipped with 10 fund portfolios with distinct risk and return characteristics; southern fund cooperated with Tiantian fund, and released a brand new investment consulting brand Sinan intelligent investment, helping customers to adjust positions and other operations.

At present, most of the independent sales agencies cooperate with other agencies. For example, at the beginning of its founding, the fund was targeted at the buyers attention of the public offering fund, with the upstream product suppliers and downstream partners to provide customers with a cheaper and more efficient consultancy sales service system. The ant fund and the pilot group jointly established the pioneer navigation and investment (Shanghai) Cci Capital Ltd, which launched the fund on Alipay. Smart investment products.

The above seven securities companies have obtained the qualification of investment adviser pilot, and may only have obtained oral notice at present. Fund investment advisory service is limited to the public fund field, not including accounts such as stocks. Securities companies need more preparation work after obtaining the qualification of time point. Wealth management business needs to cross retail department, wealth management department, product department and other departments. Compared with previous trading business, it needs more human and resource investment.

Source: responsible editor of Securities Daily: Yang qian_nf4425