As the captain of the tenth battle team of Noah Wealth Shanghai City, Wei Peng, noah's 25-star elite financial planner, joined Noah in December 2012, and in Noah's service to customers for more than 8 years, Wei Peng frankly said that customers have encountered many difficulties in the past investment process, encountered many pits, and need a good financial planner and a good investment consultant to help do asset allocation advice, product screening, manager screening.
Wei Peng
2021
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Target strategy financial planner spokesperson
Regarding the needs and pain points of customers, how to solve the pits on the investment road, and what the target strategy means to customers, Xiaofei and Wei Peng chatted.
The multi-strategy, multi-manager screening portfolio investment method of the target strategy series of products can effectively reduce volatility and reduce drawdown, Wei Peng mentioned that many customers agree with this, but when choosing, they are often envious of higher returns and difficult to control the aversion to risk, so the bull market is biased towards more aggressive, the bear market is more conservative, even if you buy a good product, you still can't help but sell when you encounter a short-term adjustment in the market, and finally you don't meet your expectations.
Many times investors often hope for their own luck, can choose the best products, can make a profit and exit at a high point, but luck will always run out, a move is not careful, the past accumulation may be damaged. Wei Peng often feels helpless, feeling sorry for customers, when the performance of the products held by customers is not as expected, although the initial buying choice is made by the customer himself, he will also reflect on his lack of strength to block the irrational investment at that time.
Long-term companionship, really understand the customer, to meet the needs of the bottom position, is the greatest significance of investment, but also the value of the target strategy. To do the right thing, although it is difficult, Wei Peng said that he is willing to persevere, willing to accompany customers for a long time, and achieve longer-term goals together.
In fact, there are many difficulties and confusions. For example, in 2015, when the market environment was very hot in the first half of the year, the second half of the year also experienced a relatively crazy "stock market crash". At that time, I communicated with the customer and recommended the product, and the customer himself chose a fund product of a manager who performed well at that time. The customer saw some recommended materials, including online product introductions, and also had an understanding of the manager's past, and hurriedly made a transaction subscription, because the market was really too hot at that time, for customers, stepping on the air was actually more panicked than choosing the wrong one.
This manager did well at the beginning, but in the second half of 2015, the net value of the product was very large, and the lowest time was more than 0.5, and the pressure on the survival service was very large. The client basically receives the first time he receives the net worth SMS every week, and will definitely forward the SMS to me at the same time to ask the manager about some of the current situation. Because the customer's due diligence and choice of the manager can only be based on marketing materials and some information in the open market, it is impossible to achieve on-site due diligence on the depth of the manager.
The customer has held this product for about three years, and there is a lot of pressure in this process, and there is less and less confidence in the performance of this manager's strategy in the market. Eventually, when the equity was repaired to around 0.7, he opted out. However, this product began in the second half of 2019, the strategy was adjusted, and it was completely matched with the market, and the revenue for the whole year of 2020 was very high in the market for similar products.
When the customer saw the result afterwards, although he regretted it, he couldn't do anything about it. He himself recalled that he had given the manager a long time to optimize the strategy and boost performance, but the manager did not give him a satisfactory result in the corresponding time, so he chose to quit.
In fact, for customers, choosing trust is not an easy task. Once you choose trust, the product does not perform as expected, and you will be very frustrated when you regret it.
For the financial planner, we need to spend a lot of time and energy to serve the customer, around the real needs of the customer, family situation, build an asset allocation portfolio to meet his needs, for him to better solve the problem, face the potential difficulties in the future.
But we do have some inadequacy in the selection of managers, which is worse than that of investment managers. First, we don't have enough resources ourselves, and second, we don't have so much energy to invest in that. In the past, when communicating with customers and recommending products, they generally chose relatively familiar managers, such as market heads and familiar to everyone, so that the probability of making mistakes will be much smaller.
However, as the head brand effect of the head expands, the scale of survival management becomes larger and larger, and it is often difficult to make excess returns. The choice of a manager with a relatively short establishment time and a relatively small scale is a great challenge and there will be a high risk of wrong selection. People often like to chase the rise and kill the fall, and it is difficult to hold it for a long time. Many times customers do not know what point in time is the best entry, what point in time is the best to exit, may be the product performance is very good, and in the end these customers do not make money.
So I agree with Gopher Assets' original intention of doing target strategy products, that is, do you have investment goals? Have you set investment principles for your investment goals? How to build the investment logic that suits you and then execute it effectively for the long term.
Target strategy This multi-strategy portfolio, we are more recognized, it is based on customer needs as the core, and then choose the manager, what time to layout these managers, what time to increase the position, what time to adjust the position, are responsible for a professional team. Such a strategy is more worry-free and labor-saving for customers.
Many customers have invested in the past, with a single non-standard product as a benchmark, and now the entire market is in the non-standard transfer, we must promote standardized assets to move forward, which is in line with the long-term trend of the future, but also a performance of responsibility for investors.
When customers make choices, they always feel that they can choose the most cattle products in this market, at least the most cattle this year, and if they can't do it next year, they will choose the most cattle next year. Many times the products selected perform very well. But how to choose to be an apprentice, how to quit is a master. Many clients also have managers who have performed well in the past in their positions, but these managers may not necessarily earn a return in the end.
It is really helpless for customers. When he sees that others are making money, he is more anxious in his heart, more anxious when he loses money, and when he earns less than others, he is also anxious. Professional things are left to professional people to do, this truth is agreed, but it is difficult to do, many times we always feel that we can capture the hottest and highest return funds in the market.
As mentioned earlier, financial planners will have limited time and energy in choosing managers, let alone customers. The financial planner also has some corresponding platform resources, there are some opportunities for communication between the manager and the manager in the process of product existence, and the customer is often based on his feelings about the product, can this feeling be correct every year? It can only rely on luck.
Multi-strategy portfolio, many customers are recognized for the investment philosophy. But when they choose, they are more fortunate to rely on their own luck to choose the best performing product or manager. It is true that sometimes, the product will bring some returns to customers, and it is satisfactory in the short term. But when the market goes down, it may not take a year to eliminate all the luck accumulated in previous years in a very short period of time.
Essentially, we are financial planners, we are investment advisors, not single product-driven sales. When talking to the client about asset allocation, we have reached a consensus, I help to make a reasonable asset allocation proposal and plan, the final choice is in the client; my advice will generally be to set a relatively balanced or relatively positive portfolio, such as setting a 6-8%, 8-10% or 10-12% investment target range every year, the client agrees with this.
But when it comes to choosing a single product in a portfolio, clients often want to set higher goals. Because when he feels that everyone around him is making radical choices, it is difficult for him to make relatively conservative choices. When the market goes down, as long as there is a positive return, the customer is very happy. But when the market is up, they often feel that their earnings can't beat the hottest products in the market.
Pulling the time period to 5 years, 10 years or even longer, for high-net-worth, ultra-high-net-worth customers, as long as they can achieve sustained growth of 6-8% per year, this result must be satisfactory to him. But in the process of long-term investment and holding, the challenge to human nature is too great, when the market is overheated, people's hearts must be impetuous, afraid of rising slower than others.
This challenge is tough for financial planners. We will convey the investment concept of long-term holding and embracing value to customers, perhaps customers may not agree with it at present, but I believe that with the elongation of the time cycle, as investors' cognition and understanding of the market become more and more mature, they will recognize such a concept. Only time is the best answer.
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