Conceptual editing
When people talk about financial management, they think of either investing or making money. In fact, the scope of financial management is very wide. Financial management is to manage the wealth of a lifetime, that is, the cash flow and risk management of an individual's life. Contains the following meanings:
1, financial management is a lifelong treasure, not just to solve the problem of urgent need for money. But a sustainable cycle process.
2. Financial management is cash flow management. Everyone needs to use money (cash outflow) when he is born, and earn money to generate cash inflow. Therefore, whether you have money or not, everyone needs to manage money.
3. Financial management also includes risk management. Because more flows in the future are uncertain, including personal risk, property risk and market risk, which will affect cash inflow (income interruption risk) or cash outflow (cost increase risk).
2 Financial category editing
Since 20 12, with the gradual implementation of a series of national financial policies, it has opened up a broader development space for the investment and wealth management market, and personal investment and wealth management can be described as many hot spots, which can be summarized into eleven aspects:
trust
Trust financial management is a kind of property management system, and its core content is "entrusted financial management". Specifically, it refers to the act that the trustor entrusts his property rights to the trustee based on his trust in the trustee, and the trustee manages or disposes in his own name for the benefit of the beneficiary or for a specific purpose according to the wishes of the trustor. In 20 10, the issuance scale of the trust market was 3 trillion, with an annual growth rate of over 30%.
Trust products are products issued by trust institutions and sold through banks, securities companies and professional independent financial management companies. The income of trust wealth management products can be fixed or floating. The mainstream products in the market are still dominated by fixed rate of return, with an annual income of 9- 13%, which is the biggest selling point of trust wealth management products. Trust plan products are generally infrastructure trust plans with excellent qualifications and stable income, and most of them are guaranteed by third-party banks, which is slightly safer than simple trust investment projects. At the same time, in the process of investment, banks will constantly monitor and track the trend of loans to avoid the investment risks of trust projects to the greatest extent.
In 2009, the China Banking Regulatory Commission issued the Notice on Strengthening the Active Management Ability of Trust Companies (Discussion Draft), clarifying that the purpose of this document is to "guide trust companies to develop active management trusts, improve their core competitiveness, achieve connotative growth, and promote the sustainable development of the trust industry." However, the document mainly aims to guide trust companies to get rid of the "pipeline" passive management business model, and strive to enhance their independent management capabilities in securities investment business, asset transfer business, trust loan business and so on.
20 10 "measures for the management of net capital of trust companies" was promulgated;
20 1 1 Issued the Notice on Matters Related to the Calculation Standard of Net Capital of Trust Companies. The Measures for the Administration of Net Capital of Trust Companies put an end to the mode that trust companies rely on unlimited scale to expand profits. This policy ended the "pipeline business" of trust companies in a certain sense, forcing trust companies to embark on the road of self-management, which is also a beginning for trust companies to embark on the road of wealth management. In the understanding of wealth management, many trust companies put the first step on the construction of channels. As a result, a large number of "trust companies are wealth management centers" were established.
The foundation of wealth management is to know customers. In this sense, whether it is because of the stimulation of wealth effect or the restriction and guidance of policies, it is an inevitable step for trust companies to build their own marketing team by establishing wealth centers, get rid of channel dependence, and understand and master customer needs through direct contact with customers. However, it must be clear that, in essence, the wealth management business is customer-centered, aiming at designing a comprehensive financial plan for customers and meeting their financial needs. Generally speaking, the wealth management business is product-centered, with the purpose of better selling its own wealth management products.
Therefore, the purpose of establishing a sales team is not only to let trust companies get rid of channel dependence and directly grasp customers, but more importantly, to let trust companies know customers through their own direct sales, so as to tailor products to meet customers' needs. It can be seen that if the trust company's direct sales team is established only because of the stimulation of wealth effect or policy constraints, it will simply turn the trust company's direct sales team into a "third-party financial institution" focusing on selling products, which will make the trust company's transition to wealth management narrower and narrower, and turn wealth management into simple sales products. Strictly speaking, wealth management without investment ability is illusory. Improving the investment ability of trust companies through independent management is an important step towards wealth management. Therefore, relying on your own direct selling team to study, develop and even guide customers' needs and turn this demand into products is the real way of wealth management.
Importantly, many trust company executives have realized this. It is only the first step for trust companies to develop exclusive channels and directly master a group of high-net-worth customers. Next, they need to integrate various resources to provide customers with real wealth management services. The development thinking of Shanghai Trust from 20 10 to 20 14 is clear: focusing on wealth and asset management, improving active management ability, and taking reform measures in personnel allocation, system upgrade, operation process and seed fund cultivation to ensure the improvement of Shanghai Trust's active management ability. Ping An Trust has established a multi-dimensional development platform for products, channels and systems. 20 13 foreign trade trust establishes its own wealth management center. Fan Huaming, assistant to the general manager of the company, said that foreign trade trusts hope to transform into wealth management services for high-net-worth people, which is different from the previous trust companies selling collective fund trust products through various channels.
In fact, almost all financial institutions are conducting wealth management business in the name of wealth management. The reason for this description is that the difference between wealth management business and wealth management lies in product-centric or customer-centric. Under the background of separate operation, it is impossible for any financial institution to be completely customer-centered; In order to meet the all-round needs of customers, only mixed trust companies can do this, which is the biggest advantage for trust companies to enter the wealth management market.
It was learned from china trustee association that up to now, 68 trust companies have been approved by CBRC and issued new financial licenses through re-registration.
Gold speculation
Since the Bank of China launched the "Huang Jinbao" business for individual investors in Shanghai, gold speculation has been a hot spot in the personal finance market, attracting investors' attention and favor. Especially in the past two years, the international gold price has continued to rise. It can be predicted that with the gradual opening of the domestic gold investment field, the future gold demand growth potential is huge. Especially after 2004, the pricing method of domestic gold jewelry will gradually change from the integration of price and fee to the separation of price and fee, and the 5% consumption tax on gold jewelry is expected to be abolished, which will greatly promote the increase of gold investment, and the gold speculation business will surely become a bright spot in the field of personal financial management and truly enter the golden age of investment and financial management.
fund
Since the successful issuance of the first batch of closed-end funds in 1997, the funds have been highly praised by domestic individual investors. As of 20 12, funds have obviously surpassed deposits in financial analysis and become the top priority of many investment and financial management points. According to relevant data, the net value of domestic funds has reached more than 200 billion yuan. According to the survey, in 20 13 years, many investors are still very optimistic about the advantages and characteristics of the fund, such as stable income and low risk, hoping to obtain ideal income through the investment of the fund.
Buying and selling securities and stocks
Some experts have analyzed that the future situation of capital supply and demand is relatively optimistic, which is undoubtedly a shot in the arm for the capital-driven China stock market. In addition, China Securities Regulatory Commission has put forward stricter requirements on the performance calculation and financing amount of listed companies, and strengthened the supervision of the stock market, which will bring profit opportunities to investors. But in any case, the biggest feature of the stock market is uncertainty, opportunities and risks coexist. Therefore, investors should continue to be cautious and seize opportunities before investing.
national debt
There are many varieties in the national debt market, and investors have many choices. New attempts and reforms have also been made in the way of issuing treasury bonds, which has further improved the marketization level of issuing treasury bonds and minimized the interference of non-marketization factors. In addition, the secondary market of national debt will also become the development focus in 20 13 years. It can be seen that this series of innovative actions of national debt will certainly bring more investment choices and greater profit space for investors.
bond
The bond market is unexpectedly hot. There are indications that the issuance of corporate bonds in 20 13 years may accelerate, such as corporate convertible bonds, floating interest rate bonds, bank subordinated debts, etc. Will become a good investment variety. In addition, the China Banking Regulatory Commission will include subordinated term debt in tier 2 capital to supplement the capital structure of commercial banks, which will make banks ready to issue bonds, which will once again add fuel to the fire in the bond market.
foreign exchange
With the continuous decline of the exchange rate of the US dollar, more and more people have made a lot of money through personal foreign exchange transactions, and the foreign exchange market was once extremely hot. Various foreign exchange wealth management products have also been launched one after another, such as the foreign exchange of commercial banks, the foreign exchange treasure of China Bank and Agricultural Bank, and the American Express Huitong of China Construction Bank for investors to choose from. 20 13 China government will continue to adhere to the principle of RMB stability, and take measures such as linking RMB to foreign exchange and increasing the autonomy of enterprises in foreign exchange to promote the healthy development of the foreign exchange market. Therefore, according to expert analysis, the investment space and opportunities in the foreign exchange market will be even greater.
The foreign exchange market is the largest financial market in the world, with an average daily trading volume of 4 trillion US dollars, and the market circulation is extremely high; Important information that affects the trend of foreign exchange (such as economic data and central bank policies, etc.). ) issued by the national central bank, statistics bureau and other authoritative institutions, and the transaction is fair, just and open; You can trade foreign exchange in two directions for 24 hours, either buying up or buying down, and there are profit opportunities for exchange rate ups and downs.
insurance
Compared with the tepid insurance market, income insurance has been sought after by people once it is launched. Generally, there are many types of income insurance, which not only has the most basic protection function of insurance, but also can bring investors a lot of income, which can be described as a win-win situation for protection and investment. Therefore, the purchase of income insurance is expected to become a new hot spot for personal investment and financial management.
Peer to peer network
"P2P" means "person-to-person", which is a new generation of private lending form closely related to innovative technologies and innovative financial models such as the Internet and microfinance. It provides transparent, open, direct and safe micro-credit transactions for familiar or unfamiliar individuals to the maximum extent, and is young, innovative, cautious and low-key.
P2P financial management model has just emerged, and it has been favored by many high-end people. P2P not only has the characteristics of profitability and security, but also helps individuals realize the value of social welfare, which makes the innovation of financial management model reach a new height.
What is different from other wealth management products is its inclusive effect. While realizing wealth management benefits, through the construction of the platform, the wealth management terminal can directly help the lives or work of ordinary people and fill all aspects of social life that large financing institutions do not touch.
Up to now, many models are derived from the concept of P2P. There are more than 2,000 P2P lending platforms in China, and the platforms are different, which can be summarized into the following four categories:
First, the guarantee institution guarantees the transaction mode, which is also the safest P2P mode. As an intermediary, such platforms do not absorb deposits or lend, but only provide financial information services, with double guarantees provided by cooperative small loan companies and guarantee institutions. The trading mode of such platforms is mostly "1 many-to-many", that is, a loan demand is invested by multiple investors. The advantage of this model is that it can ensure the safety of investors' funds, and it is jointly guaranteed by large domestic guarantee institutions such as Zhongan Xinye. In case of bad debts, the guarantee institution will transfer the principal and interest to the investor's account in time the next day after the repayment is delayed. Among them, the favorable network also launched a debt resale transaction. If investors are in urgent need of money, they can resell their creditor's rights so as to take away the funds in their accounts at any time. Favorable network is quickly loved by users because of its safety and convenience.
The second is the model of "the transfer mode of creditor's rights contract under P2P platform". It can be called "many-to-many" mode, where loan demand and investment are dispersed. Even Tang Ning, the head of CreditEase, lends money to the borrower as the largest creditor, and then obtains the creditor's rights for division, and transfers the creditor's rights to other investors in the form of creditor's rights transfer to obtain loan funds. Due to its special lending model, CreditEase has also established "two-way Sanda" risk control, and obtained one-year creditor's rights in the form of personal loans. CreditEase splits the creditor's rights in both amount and term. In this way, CreditEase constantly attracts funds by using the staggered ratio of funds and maturities. While granting loans to obtain creditor's rights, it constantly mismatches the amount and maturities and continuously splits and transfers them. CreditEase's model is characterized by strong reproducibility and rapid development. Its framework system can be regarded as the docking of left assets and the docking of right creditor's rights. The balance coefficient of CreditEase is that the amount of foreign loans must be greater than or equal to the assigned creditor's rights. If the loan amount is actually less than the transferred creditor's rights, it is equal to the transfer of non-existent creditor's rights. According to the Notice on Further Combating Illegal Fund-raising, it belongs to the category of illegal fund-raising.
3. Internet service platforms launched by large financial groups, such as 658 under 5 173, are more financial and "professional" in business model. They have industry-leading risk management and control capabilities, as well as advanced and secure Internet platforms. Combined with decades of comprehensive experience in finance, e-commerce and services, through scientific, rigorous, safe and efficient business processes, we provide the most professional fund matching consultation and fund matching for financial investors across the country.
Fourthly, based on the transaction parameters, combined with the comprehensive transaction mode of O2O (online to offline, offline business opportunities combined with the Internet). For example, Ali Xiaowei joined the credit review system of e-commerce and integrated the loan information. The P2P microfinance business initiated by this microfinance model relies on its advantages such as customer resources, e-commerce transaction data and product structure, and two microfinance companies established offline serve its platform customers. The combination of offline business opportunities and the Internet makes the Internet a front desk for offline transactions.
5. The innovative financial management method represented by P2P online loan model has been widely concerned and recognized. Compared with traditional financial services, P2P borrowers are individuals, mainly credit loans, and the source of loans is strictly limited to small and medium-sized enterprises with good business operations and loan needs. The offline multiple financial guarantee system completely solves the inherent contradiction in the P2P model and makes the security more practical and powerful.
investment in real estate
Auction houses generally refer to properties that have not been completed and accepted, and are also called "uncompleted residential flats" in Hong Kong. Because the sale of faster houses by developers can be used as a financing means to recover cash in advance, which is conducive to the flow of funds and reduces risks, more favorable discounts are often given when pricing. The general discount range is 10%, and some of them reach 20% discount or even higher. At the same time, the investment auction may be to buy a house with a better orientation and floor first. However, the investment risk of auction is high, which requires investors to have a correct judgment on the strength of developers and the prospects of real estate.
With the introduction of various national policies (including restrictions on purchases, including bank loans), second-hand houses have basically lost room for appreciation. Second-hand housing prices in first-tier cities will only fall, not rise, and the national key development targets are small and medium-sized cities, so why don't we seize this opportunity to invest in new properties in those second-tier cities? Moreover, new properties are basically chartered by developers. The economy of second-tier cities has developed, your capital has come back, and your house has also increased in price.