On April 10, Ping An Trust announced that the Funing No. 615 Trust Plan was extended. In fact, a few days before the announcement, investors had gathered in front of the headquarters of Shenzhen Ping An Group to defend their rights, including not only investors from Funing No. 615, but also investors from Jiayuan No. 468. Both trust products are purchased through the "Bao Zun Bao" module of Ping An Group's Golden Butler.
Contrary to what people think, this group of trust investors is not all rich. In fact, many of them are salesmen of Ping An Insurance. There are also many people who are long-term customers of Ping An Insurance and have purchased this trust through their own insurance salesman. Over the past few years, their wealth has been growing steadily, and no one realizes what the problems and risks are behind buying financial products in this way.
Deferred trusts
One day in December 2023, Qi Xiao checked the trust products on his mobile phone that were about to expire in a few days, and the expiration time suddenly became "December 31, 9999", and his heart sank to the bottom all of a sudden. The time bomb, which had worried her for two years, finally exploded.
In December 2021, her parents invested 3 million yuan to purchase the Jiayuan No. 468 Trust Plan launched by Ping An Trust in her name, and she also invested 100,000 pocket money in her hand. In her impression, financial products will receive dividends every month or quarterly, but this money has not moved for a long time, and only returned 140,000 yuan and 120,000 yuan in June and September 2022, respectively. For this reason, Qi Xiao asked the salesman many times about the situation, and the salesman told her that she did not have to worry, the principal and interest would be returned together in the end, so that she believed in safety, waited patiently, and told her that "other due trust products have been paid". Although she was a little skeptical, the salesman also bought Funing No. 615 herself, and also showed Qi Xiao the purchase record, which became her "reassurance".
Patience is exhausted after the product is confirmed to be delayed. After the postponement, Qi Xiao went to the salesman once a week to ask, and the salesman sometimes told her to wait, and sometimes did not reply. Until the end of March 2024, she suddenly received a message from the salesman, asking her to go to Shenzhen to "defend her rights", otherwise the money will not come back - it turned out that the Funing No. 615 trust product purchased by the salesman himself had not been paid when it expired, and they had to face the fact that both products "had an accident".
On April 10, Ping An Trust officially issued an announcement: Affected by the overall downturn in the real estate market, Ping An Trust Funing No. 615 Trust Plan has recently announced the extension, and the company is actively promoting the disposal of the project. The duration of the plan is 30 months, and as of March 29, 2024, the scale of existence is 770 million yuan. Qi Xiao's purchase of Jiayuan No. 468 was supposed to end on December 31, 2023, but as early as August 2023, before she found out about the extension, Ping An announced that all the surviving trust units of the plan were terminated early, but because the trust property in cash could not be paid in full to all the beneficiaries, it was automatically postponed to the date when the trust property was fully realized.
In mid-April, angry investors gathered at the headquarters of Ping An Group in Shenzhen to ask for an explanation. When people get together face-to-face, they discover a slightly absurd fact: almost none of the investors have any knowledge of finance. They don't know that the underlying asset of this trust is real estate, nor do they understand the dividend method, they haven't carefully read the contract before buying, and many people don't even know what a trust is. Some people also regard it as an asset value-added service provided by Ping An to customers. A considerable number of them are long-term customers of Ping An Insurance and purchased this trust through life insurance salesmen.
Their investment logic is the same as the well-known slogan of trust, "because of trust, so entrust". In the mouth of the salesman, Ping An Group is a Fortune 500 large enterprise with a market value of trillions, national supervision, and Ping An Insurance...... Most importantly, these investors are regular customers of Ping An, and they have never had problems with the insurance or financial products they have purchased before.
Stills from "Hometown, Don't Come Unharmed".
Over the past few years, wealth has indeed grown slowly, and promised interest payments are paid when due, reinforcing the myth of peace with a 100% historical payout rate. The amount of money invested has also slowly increased from 500,000 to 1 million, until this time it is 3 million or even more. Among the nearly ten investors interviewed by this magazine, more than half of them were able to meet the minimum investment threshold of 3 million yuan through borrowing to buy products due to insufficient liquidity.
It is this kind of trust that makes them ignore the financial attributes of trust products and the risks behind them.
Trust traps
After the deferred payment, a lot of information that had not been paid attention to by investors surfaced.
In a Jiayuan 468 trust plan promotion material obtained by this magazine, the disclaimer on the first page reads: trust products do not promise capital preservation and minimum returns, have certain investment risks, and are suitable for qualified investors with strong risk identification, assessment and tolerance, and meet the requirements of relevant regulations. The risk level of the product is R4 (medium and high risk), which is an equity investment product, and the funds eventually flow to Huizhou Boyu Real Estate Co., Ltd.
Many investors said that they had never seen this promotion material before the product was postponed, and they did not know its capital flow and risk level. They recalled that they were not sure whether the salesman gave a promise of "guaranteed principal and interest" when introducing the product, but what was certain was that the salesman sent a signal that the product was absolutely safe and would not go wrong.
Lu Meihui, who lives in Liaoning, has invested 3 million yuan in No. 468 Jiayuan, and as an old customer of Ping An, she has a firm trust in the salesman herself and Ping An Group. Her salesman is the mother of her daughter's high school classmate, and often invites her to eat, bathe, and give gifts during the New Year's holidays. During the epidemic, she mentioned that she had a fever, and the salesman immediately sent a thermometer and medicine, and Lu Meihui has always thanked her and felt that she was really good to herself.
Stills from "Home of the Heart".
Before 2015, Lu Meihui did not make any investments, and the family's money was kept in the bank. After that, they all bought insurance through this salesman, and began to buy financial products from her around 2019, so it can be said that "all the money I have made over the years has been safe". The trust in the salesman has also reached the level of "she buys whatever she says", not only that, but she also often introduces her friends to the salesman as customers.
In July 2019, the salesman recommended Ping An Trust to Lu Meihui for the first time. At that time, Lu Meihui was still a little hesitant and replied to her: "Ping An Trust is safe, right, there is always no bottom in my heart." With so much money, everyone has to study it carefully. The salesman told her that the recommended product was 100% assured, and the income was no problem. Out of trust, she still bought, the principal and interest arrived as promised, which enhanced her confidence, and in the next two years, she successively purchased a variety of financial products, with an investment amount from 500,000 yuan, to 1 million, and then to 3 million, and there was indeed no problem.
Lu Meihui remembered that she had bought a wealth management product of 1.6 million yuan before and when it expired, there was no interest, and the principal only came back 1.59 million. At that time, the salesman brought 10,000 yuan in cash to her home and told her that the loss would be borne by Ping An. This made her more convinced that "Ping An is a big group and will give me support".
On December 9, 2021, Lu Meihui found the salesman and asked her to help pay attention to whether there were any wealth management products of 1.5 million yuan recently. Lu Meihui made a decision: trust. In fact, for her, there is no difference between private equity and trust – she has no idea about the concepts and risks of both products. In the following days, the salesman kept recommending this Jiayuan 468 with an investment of 3 million yuan.
Buying Jiayuan No. 468 made Lu Meihui feel happy for a while. In the mouth of the salesman, this is a product launched by Ping An to give back to high-end customers, the interest rate is higher than other financial management, the security is no problem, there are only 100 places in the country, and the salesman needs to help make an appointment and rush to buy in advance, not just anyone can buy it. This kind of "hunger marketing" made Lu Meihui feel that she could not miss this opportunity.
At that time, she only had 1.5 million yuan of working capital in her hand, and borrowed 670,000 yuan from relatives and friends, which was still hundreds of thousands. The salesman took the initiative to recommend that she use the "policy loan" method to lend out the money she had previously bought insurance, with an interest rate of 5%, which is more than the interest rate of 7.1% of this product, and there are two points of income. Lu Meihui felt "special thanks to her" at that time, and felt that the salesman had a good relationship with her, so he recommended such a good product to her, and also helped her find a way to take out a loan to solve the problem of insufficient funds.
In addition to borrowing money from relatives and friends, Lu Meihui also borrowed tens of thousands of yuan from her daughter Wang Jiaqi, who had just joined the work for a year at the time. Knowing that her mother wanted to buy this financial product, Wang Jiaqi's first reaction was "not very willing". She didn't trust the salesman, because the salesman always asked her mother to buy products under the banner of "good for the child", she sometimes asked her mother to buy less insurance, and the salesman always used the words "children don't understand, we adults should think more" or "I bought this for my children" to persuade her mother. But on the other hand, she is afraid that blocking will make her mother think more, "I am working, I don't want her to feel that I am not willing to pay for things, I want her to feel that I can help her when she needs money." After repeatedly confirming the safety with my mother, she advised: We don't pursue high interest rates, just be safe.
Wang Jiaqi has always felt that there was a problem with this trust, and it was the result of her mother's too much trust in the salesman. It wasn't until she went to Shenzhen to "defend her rights" that she realized that not only her mother, but almost all investors did not realize that buying trust products was a risky financial investment. Among the investors, many of them are salesmen of Ping An Life themselves. From this point of view, the salesman did not "deceive" the consumer - they themselves believed in the myth of Ping An's wealth.
Zhang Jie, an investor at Jiayuan 468, is a salesman at Ping An Life and has worked in life insurance for nearly 20 years. She remembers that since a few years ago, the commissioner of Lufax would conduct offline training for life insurance salesmen from time to time, introduce some financial products for them to recommend to customers, and some products were sold by her, whether they were trusts or other types, and she had no idea about this. All she knows is that these are "high-end, high-interest, and very safe in-house products". In her eyes, financial products are simply divided into two categories, one is high-end, with high investment and high interest rates, which are not available every month and need to be snapped up;
Zhang Jie herself has been buying Ping An's wealth management products since more than 10 years ago. At that time, everyone didn't want to buy it, and the leaders needed to mobilize in the name of "experience products", so she bought 10,000 yuan with the mentality of trying it out, and really got 1,000 yuan in interest. Since then, she has invested more and more, wealth is like a snowball, relying on Ping An's salary and financial interest accumulation, and later, investment has formed a kind of inertia, as long as the last money is untied, it will immediately invest in the next product, so many years have never made a mistake.
Stills from "It's All Good".
In recent years, every time she hears the news of the explosion of "outside" financial products, she will feel fortunate and down-to-earth, "only here is safe". If we talk about changes, it is the "guaranteed principal and interest" that was often mentioned in the previous training, I don't know when it has become "everything you buy from Ping An Gold Housekeeper is safe, rest assured to talk to customers", and she has not delved into what this change of speech means. With the increasing news of other companies' financial products in the past two years, some salesmen will consciously ask in the group whether this product is safe, and the answers they get are assured that there is no risk. Seeing this kind of problem, Zhang Jie always thought to herself: "This salesman is quite naïve, no thunder will explode here." ”
Thankfully, she didn't sell the postponed product. Several customers did not listen to her recommendation and switched to other companies' financial products with higher interest rates, and she advised them at the time: "Everything else is risky, but Ping An is the safest." In Zhang Jie's view, most of her customers pursue safety as much as herself. "It's all converted by insurance customers, and if you want to make high-risk and high-return investments, you will definitely not come to insurance. ”
"Is it safe" is a question that Zhang Jie routinely asks every time she buys a wealth management, and it is also the only question she can think of. When she bought Jiayuan 468, she still asked this sentence, and the commissioner of Shanghai Lujiazui International Financial Assets Exchange Co., Ltd. (hereinafter referred to as "Lufax") replied on the phone in a helpless tone, "It's safe", Zhang Jie felt that it meant "why do you still have to ask me this kind of question". Founded in Shanghai in 2011, Lufax, a member of Ping An Group, is a financial information exchange platform that helps financial institutions connect with small and medium-sized enterprises and individual customers, and provides investment and financing services.
Ping An Trust "Jiayuan No. 468" promotional map
Asked if she had read the contract and whether she knew the flow of funds, as a salesman, Zhang Jie and other investors had the same answer: "I don't even know that it is a trust, where will I ask what project to invest in?" It was not until after the product was deferred that Zhang Jie found the commissioner and asked the other party about the safety promised at that time, and the commissioner told her that she didn't actually know about it, and it was the company that asked him to introduce it like this.
Non-standard sales
After the deferred payment, investors traced the entire process of purchasing the trust product and realized that there were actually various problems in the sale of the product.
Investors are buying products through the "Bao Zun Bao" channel, which is a platform jointly created by Ping An Lufax and Ping An Life in 2015. In the training materials received by the insurance salesmen, the introduction of this is that the wealth management products provided by Bao Zunbao have been professionally screened by risk control, and are specially provided to life insurance channel customers, with a historical redemption rate of 100%. The material also wrote that (to customers) WeChat group message: "Under the premise of ensuring the safety of the principal, Ping An Gold Butler buys Bao Zun Bao (Lufax high-quality wealth management) to ensure the safety of the principal, and the return is high and the redemption is zero-risk, so that your money can be made faster."
Ping An Life Insurance Company's insurance sales staff receive training materials for "Bao Zun Bao" high-end products
"If the salesman realizes that there is a risk, he doesn't dare to recommend it to customers, at least he won't buy it", Zhu Rong, who bought the Funing No. 615 trust, is also a salesman of Ping An Life Insurance, and the blow to his family caused by the deferred payment is devastating - out of the 3 million principal, only 1.5 million is the couple's savings over the years, and the rest of the money is made up by relatives and friends. Previously, it had never occurred to him that the claims on the training materials were exaggerated or misleading. He recalls that he seems to have seen the product's R4 risk level labeled, but the commissioner did not introduce it, focusing the training on demonstrating safety and high returns from all aspects, and no one thought to ask what R4 means.
Zhu Rong has worked in Ping An Life Insurance for more than ten years, and he remembers that Ping An began to lay out "comprehensive finance" very early, and although the products he usually sells are mainly life insurance, they also include selling car insurance, property insurance, wealth management, inclusive loans and other businesses, and almost every salesman around him is like this. However, from the company's level, the risk has long been avoided, and the life insurance salesman sells other financial products, and what he gets is not called "performance", but "recommendation reward", and the job number of the signing salesman will not be reflected in the contract, "in fact, there is no difference from sales, this is a word game". Zhang Jie also said that although it is called "recommendation reward", both the commissioner of Lufax and his direct leaders say that these products can be sold directly.
"Lufax" records the cash rewards of the sales staff of Ping An Life Insurance Company who has successfully sold
As early as October 2015, the China Insurance Regulatory Commission issued the "Notice on Strictly Regulating the Sales of Non-insurance Financial Products", insurance companies, insurance intermediaries and their practitioners are not allowed to sell non-insurance financial products, except for non-insurance financial products approved by the relevant financial regulatory authorities, and the sales of products that meet the requirements of the notice, practitioners must also meet the corresponding qualification requirements. According to the materials provided by an investor, in the incomplete statistics, there are 7 life insurance salesmen who directly sold this trust, and none of them are qualified to sell trust products.
Zhu Rong told this magazine that when he communicated with Ping An in Shenzhen, the day before, the representative of the life insurance company admitted that there were flaws in the sales process, and the next day he overturned this statement, saying that it was the personal behavior of the salesman. In the live video, a salesman stood up excitedly on the spot and confronted: "As an employee of life insurance, I sell to customers through life insurance channels, if life insurance does not give me this power, how can I be so capable? What do I know about Ping An Trust?"
The hidden danger of insurance salesmen who lack financial knowledge to sell financial products has been fully demonstrated in this postponement event. As a salesman, Zhu Rong bluntly said that he couldn't understand the contract himself. "The contracts are all standard, sixty or seventy pages, the words signed on the mobile phone are very small, and there is no professional financial knowledge, it is difficult to understand, but I have always agreed according to the prompts. ”
Stills from "The Richest Man in Xihong City".
Investor Sun Zhiqiang's mother has worked for Ping An Life for more than ten years, and the products he buys are directly sold to him by his mother. He told this magazine that his mother, who had a high school education and opened a nail salon before joining Ping An in 2012, did not have any financial knowledge, and when selling products to customers, he could only introduce them in the words provided by the commissioner. Sun Zhiqiang remembers that his mother once sold Ping An Bank's "New First Loan" product to customers, and she herself didn't even know what the annualized interest rate was, and the actual annualized interest rate was 18.3, but the words were "6% monthly interest rate for high-quality customers and 8.5% monthly interest rate for ordinary customers, and the specific monthly interest rate is subject to customer approval". The actual annualized rate is only reflected when the loan contract is signed, "at that point, the customer generally does not care about the specific annualized rate, but more concerned about when the loan will be put down."
In addition to these problems, there are also doubts about the source of funds and identity verification of investors. In the new asset management regulations issued in 2018, a qualified investor is defined as a person with the corresponding risk identification and risk-bearing ability, who must have more than 2 years of investment experience and meet one of the following conditions: household financial net assets of not less than 3 million yuan, household financial assets of not less than 5 million yuan, or an average annual income of not less than 400,000 yuan in the past three years.
According to a piece of information obtained by this magazine, when the salesman asked if the income certificate was not approved, the commissioner of Lufax said that "it is very simple to make a certificate by yourself", and provided a template for the income certificate, and "think of a way, the seal of a small company can be used". Some of the investors in the rights protection were "students", obviously not qualified investors, and assisted the salesman in forging false income certificates. In addition, many investors have raised enough investment funds through policy loans or raised by relatives and friends, which is also not compliant. Zhang Jie remembers that in the past, Ping An had little supervision over policy loans, which led to the behavior of lending for financial investment, and it was not until last year that she was asked about the purpose of the loan when she had a customer loan.
Qi Xiaojia's trust was purchased through a policy loan. As an investor, Qi Xiao has always been ignorant, and in the winter of 2021, she had just graduated from college and had never participated in the decision-making of family financial management, nor did she have any concept of the word "financial management". It was her parents' idea to buy the trust, and her mother only told her, "Auntie (salesman) tells you to do whatever you do."
Like many investors, this is a family without any financial background. My parents are in their early 50s, have only a junior high school education, run a local supermarket, and don't even know how to use smartphones. As early as 2013, her parents bought an insurance called "Fortune Life" for her and her sister in Ping An, and she remembered that she would pay 500,000 yuan a year, pay it for several years, and return a sum of money every month, and in 2021, she accumulated 3 million yuan in her family insurance account. At that time, the salesman told them that the 3 million was also put away, and the interest rate of the loan was 5%, and the interest rate was 7.1% for buying this product, which was equivalent to an additional income of more than 100,000 yuan per year. Until the trust was extended, the parents did not realize that they had bought a financial product, but regarded it as a value-added service for the salesman to do for the customer.
Regulators have paid attention to the various problems reported by investors. On December 15, 2023, the official website of the State Administration of Financial Supervision and Administration disclosed an administrative penalty that Ping An Trust was fined 1.8 million yuan for assisting insurance funds to invest in a single fund trust in disguise, inadequate net-worth management, the number of nested layers did not meet the requirements of the new asset management regulations, the number of qualified investors exceeded the requirements of the new asset management regulations, and the information disclosure management was not in place.
Butterfly wings of real estate
A South American butterfly flapps its wings, and the result could trigger a tornado in Texas, USA. The butterfly wings waved by the downturn in the property market also unexpectedly affected this group of investors who thought they had nothing to do with real estate. Wang Jiaqi remembers that in 2021, her mother offered to buy her a house, but she was blocked by her on the grounds that the property market was sluggish and house prices would definitely fall in the future. She didn't expect that the money that was not used to buy a house ended up in another form in the property market.
This is true for most investors, who never imagined that their family's fate would be linked to a distant property. But for Gu Long, a practitioner in the real estate-related industry, he has long been aware of the downturn in the real estate market, and he still has not escaped the end of being harvested.
In 1993, Gu Long, who had worked in a state-owned enterprise for two years, resigned and went to the sea to start a ceramic tile business for 30 years. His business has always been closely linked to the real estate industry, and he has accumulated his initial wealth during the years of prosperity of the real estate industry. In 2018, when the real estate market had not yet shown a downward trend, Gu Long heard a CEO of Vanke propose to "live and talk about it", and several construction units also began to owe money, and immediately noticed that the real estate market was going downhill. He has always believed in "walking on two legs", and began to stop supplying to the engineering party, only doing retail, relying on keen judgment, although his business has shrunk, but it has not been affected by the explosion of real estate companies.
Unlike most of the investors who were insurance customers, he was a customer of Ping An Bank's private banking. After withdrawing from the project in 2018, all the liquidity available to him was pooled and invested in Ping An for financial management. In the past two years, he invested 8 million yuan in principal and earned back hundreds of thousands of yuan, and the products he bought did not lose once. He doesn't understand finance, and he only has two requirements for investment: one is to be stable, and the other is not to invest in real estate.
A few months before buying Jiayuan 316, his wealth management products expired one after another, and there was no suitable new product to invest in, until the salesman recommended this and told him that it was very sought-after, there was a quota limit, and only high-end customers could buy it, "It seems that he wants to make a lot of money, and he is very nervous." He remembered that at that time, he only asked whether he was stable or not, and specially told him that it was not real estate, and the salesman answered.
One day in October 2020, at half past ten in the morning, the salesman came to his office near the building materials market, took his mobile phone to help operate, and kept clicking on the mobile phone, and it was completed in a few minutes. This product is the largest amount he bought in Ping An, and he invested 5 million of the 8 million liquidity.
It wasn't until after the product was postponed that he found the salesman to print out the project information, which said that the investment was Yunnan Junfa Real Estate, that he realized that he had been "deceived". This is also the first time he knows that he is not buying a fund, but a trust. Previously, his concept of trust was only a family trust, which is how wealthy people manage their assets.
Stills from "It's All Good".
Like most investors, Zhu Rong has no concept of real estate, and after the extension, he learned that Zhengrong Real Estate, the partner of Funing 615, exploded in less than half a year after the trust investment. This is the most puzzling point for him: ordinary people know that real estate has frequently exploded in recent years, and the products claim to have undergone professional risk control screening, why did they invest in such an obviously high-risk project?
In fact, in recent years, it is not uncommon to see trust products that step on thunder real estate. According to Caixin Weekly, the trust industry and the real estate industry have always been highly related, in addition to direct capital injection of real estate projects, there are essentially land development of urban investment bonds, equity investment of real debts, securities investment, etc., from the product structure in-depth, the industry estimates that trust channel business seventy or eighty percent or related to real estate. Since the end of 2020, there has been a significant increase in the default of real estate trusts, which is also in line with the nodes of real estate companies that have exploded one after another.
This means that in the past few years and in the future, the recession in the real estate industry has brought about many trust products in the market that will be more risky than expected.
Lives that have been changed
As the activist investors dispersed, Ping An Group's headquarters in Shenzhen returned to calm after a week of hustle and bustle. For these investors, it is not only trust that is shattered, but also life.
Under the related news, the comment that "trusts do not pit the poor" made investors feel dazzling. Most of the investors come from ordinary families, some people have children who are ready to get married, and they originally told each other that they would pay half of the money to buy a house in Beijing, but now the money cannot be returned, and the marriage is also yellow; some people are ready to send their children to study in the United States in June this year, but the offer has already been obtained, because the money plan has failed; some people have borrowed money from relatives and cannot pay it back, and they are burdened with the accusations and complaints of the entire family. Wang Jiaqi saw a salesman at the scene and sold the product to her sister's family, and after the delay, her nephew waited at home for three days and two ends to beat her. She can only come to Shenzhen to "ask for money", or if she doesn't get the money back, she will be beaten by her nephew when she goes home.
Qi Xiao, 26, works for a publishing company in Beijing, and the trust is linked to the trajectory of her life. Previously, her life in Beipiao was worry-free, and her mother would give thousands of yuan of pocket money every month. She already has plans to buy a car in Beijing and consider buying a house in a few years. All of this has now become a fantasy, and life in Beijing is too stressful, and every day she is crowded on the crowded subway, she is depressed and thinks that if the money does not come back, she will quit her job and go back to her hometown to work as a cashier for her parents' supermarket. Now, the principal of 3 million has not been returned, and the policy loan is still generating 5% interest, and Qi Xiao has to repay 150,000 yuan every year for this. She can't even pass on these grievances and anger to the salesman, because "she is also a victim".
Sun Zhiqiang is 29 years old this year, and he bought No. 615 Funing and No. 468 Jiayuan, both of which he defended his rights, with a total investment of more than 7 million yuan. Nearly half of the money came from compensation for the demolition of the old house.
During the Qingming holiday in April this year, he drove past Longguang City, Daya Bay, Huizhou, which is the underlying asset of Jiayuan No. 468, which is only a few dozen kilometers away from Shenzhen. The building has not yet been built, the sales department is empty, and there are several cranes working on the site, which proves that this place has not yet become an "unfinished building". Half a year ago, he never imagined that his family's fate would be so closely tied to this real estate.
Afterwards, he recalled that if he had been directly recommended by someone else, he would have asked about the safety and risks involved, but the person who recommended these two products was his mother. My mother entered Ping An in 2012, and slowly, her performance ranked among the best among regional salesmen, with an annual salary of 30-600,000 yuan. At the beginning, my mother had no customers, so she had to start with relatives and friends around her, or buy insurance to complete the performance to "protect the worker". Sun Zhiqiang now has 59 various insurance policies under his name. Working in a Fortune 500 company, with outstanding performance, and earning the first pot of gold in Ping An, these deepened my mother's sense of belonging to Ping An.
It is precisely because of his outstanding performance that Sun Zhiqiang's mother was assigned to "Class A". Trusts, which require a high level of capital investment, are often sold by Class A. In my mother's opinion, this is a good product that only high-end customers can access, and it is a kind of luck to be able to buy it yourself. As a result, all the money earned in Ping An was returned to Ping An in the form of financial management.
Stills from "I Am Yu Huanshui".
In the eyes of relatives and friends, Lu Meihui has always been a "capable person". Twenty years ago, she "went to the sea" after a state-owned enterprise set up an internal retreat, opened a "ten-yuan supermarket" in the local area, did a taxi business, and later opened a small dining table and a self-study room, and was busy from 6 o'clock in the morning to 12 o'clock in the evening almost every day, and sometimes she could sleep at one or two o'clock at night. As she grows older, in the past few years, her daughter Wang Jiaqi can always hear her mention low back pain and leg pain, and her body can't stand it. It is precisely because she puts her mind on her career that in other aspects, Lu Meihui's nerves are a little big, and after the initial return on buying products in Ping An, the subsequent investment behavior has become inertia.
After the tide of trusts recedes, the first to run aground are these small and medium-sized investors who lack financial knowledge. In the past 20 years, they have accumulated a sum of original capital that ordinary families look up to by their hard work and fighting spirit, and in recent years, they have taken advantage of the financial wind to make this money continue to increase. The logic of money making money, they have no way to explore, and they do not have the ability to delve into it.
On April 19, Ping An Trust issued another announcement stating that Funing No. 615 is a real estate equity investment product and failed to withdraw on March 29, 2024, mainly due to the default of Zhengrong Company, the project party, in the context of the continuous downturn in the real estate market. At present, the equity repurchase case of Ping An Trust v. Zhenro has won the first-instance judgment and will continue to follow up. In addition, the extension of the trust scheme will not affect the normal operation of the company.
Wang Jiaqi remembers that in November 2021, a month before purchasing Jiayuan 468, her mother accompanied her on a business trip to Shanghai. In the evening, the two walked on the brightly lit Bund, and the opposite bank was resplendent with gold. Lu Meihui suddenly pointed to a round building opposite, and proudly told her: "Look, that's the safe Lufax, and all my mother's money is put there to increase in value." ”
At the time, she didn't care what the building looked like, it was hidden in a cluster of elaborate high-rises on the Bund. But to this day, she still remembers her mother's tone at that time, so hopeful.