Southern Finance And Economics All-Media Reporter Wu Shuang Reported in Shanghai On September 17, the "2021 China Asset Management Annual Conference" hosted by 21st Century Business Herald and co-sponsored by Shanghai Pudong Development Bank was held in Shanghai. At the afternoon investment advisory theme forum, Zhang Yu, CEO of Pioneer Pilot Investment Consulting (Shanghai) Investment Consulting Co., Ltd., said that the biggest driving factors for current investment advisory users when considering and using investment advisory services are not "satisfactory yields" and "reassurable brands", but the level of understanding of their needs.
Zhang Yu explained that since the launch of the investment advisory service "help you invest" on Alipay in April last year, through a large number of in-depth research on users, it was found that the biggest psychological driving factor for Chinese users at this stage is "understanding him". Investment advisory institutions first need to clarify this direction before they can think about how investment advisors can better understand customers and the environment they are in at this moment. When thinking about how to better understand the user, we must put ourselves in his shoes and consider products, markets and services more.
Zhang Yu said that there are still a large number of users who cannot distinguish the difference between "investment" and "investment", so that users can recognize that investment and goal setting are very necessary for themselves.
He used women as an example to explain why women need more attention. Women's income growth curve after the age of 35 tends to show a downward trend compared to men's; women's family risk probability after age 45 is higher than men's; women's retirement age is earlier than men's, but women's average life expectancy is longer than men's. Combining these factors, women generally need more and longer-term funding after retirement to maintain a better standard of living. And this difference in life trajectory has created that women and men need different wealth management solutions. Women who are 35 years old may need to construct a relatively more aggressive financial planning scheme and even choose a strategy with higher relative volatility and higher returns at a young age. Once such financial goals are clear, users can be more aware of why they must insist on investing and making friends with time when they bear risks and encounter market fluctuations.
Zhang Yu pointed out that this is the first thing that investment advisors need to do to users, that is, goal planning and demand analysis.
The second thing that investment advisors should do for users is how to help users allocate funds reasonably and optimize assets. This is something that cannot be done by selling a single product and a shelf service. He gave an example: "Many products have a lot of scenario-based services, asking users where to retire, what high school the child wants to go to, what college the child wants to go to, but after doing all the scene analysis, it seems to be planned, but the last thing is made is a product shelf." This kind of service is a collapse for users. What the user needs is not only financial planning, not only goals, what the user needs is based on financial planning and goals, help him do the allocation of funds, help him do asset selection, help him build an investment plan based on his financial goals, and then help him to implement this plan, including configuration, position adjustment, rebalancing. ”
Finally, after the user recognizes the importance of the goal and establishes the strategy, someone should help him correct the real-time investment behavior. This is the third thing that investment advisors should do for users, "behavior guidance".
In such a process, the user's good experience will reflect their investment behavior. In the past year, the average amount of re-investment by users on "Help You Invest" was 1.4% of the amount invested for the first time. Among the users who lost and reinvested, 81% of the users held positions for an increase compared with before the first loss.
What is Fund Advisory? Zhang Yu believes that fund investment is to change the past product as the main line, product sales as the guide, the rate of return to a single mind, and the transition to a completely people-centered development route. Investment advisors should do three things: the first thing, goal planning, demand analysis; the second thing, asset allocation, portfolio management; and the third thing, behavior guidance.
Combined with the above three points, Zhang Yu believes that fund investment should be a solution for deep services. The traditional model is that when a user reaches out, they do only two things: conversion and retention. But the process of investment is not only the KYC of the institution to the user, but more importantly, it helps the user understand himself from the first touch. In the process of constantly reaching interactions, "you know you better, and you trust me more." Therefore, better investment should start from user reach, to strategy matching, to achieve conversion, to achieve retention, to achieve update optimization
Zhang Yu believes that the business model of investment advisory is a business model that is completely consistent with the inherent user value and the company value. But before this business model becomes a sustainable profit model, it is more necessary to explore and help investors establish a solid "short, medium and long" account system in their minds, rather than staying in the application of short, medium and long three money account system. In this process, the service and companionship of the investment advisor to the user should be fragmented and transparent.
Zhang Yu summarized four suggestions for the industry: First, strengthen long-term investment policy incentives, create long-term accounts, and enhance the awareness of long-term financial planning for families. Second, the industry co-construction, continue to explore the appropriate pre-investment investor appropriate management methods; third, expand the service boundary, improve the full entrustment and cross-category recommendation function of investment advisory qualifications; fourth, industry coordination, and actively find and guide investment advisory models with personalized financial needs.
Zhang Yu concluded that to solve the problem that the fund makes money and the people do not make money, the fund investment institution needs to take on the heavy responsibility, "in the breaking of the situation, but also in the breakthrough."
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![Zhang Yuhang and his entourage came to Siziwangqi to visit the "people's model" Du Guima[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)