The difference between that two is that:
1, different positions. Investment consultants stand in the position of specific customers and are loyal to the interests of customers; The research report stands in an independent and objective position and does not change the research methods and valuation conclusions with the needs of investors.
2. Different service methods and contents. Investment consulting service is based on contractual relationship, providing targeted and appropriate operational investment advice to specific customers according to the contract; Research reports provide securities valuation and value analysis, and are released to unspecified customers.
3. Customers are different. Investment consultants generally serve ordinary investors; Research reports generally serve professional institutional investors, such as fund companies and QFII.
4. The market influence is different. Investment consultants are closely related to the securities investment of specific investors and their interests; The research report has a great influence on the pricing of the capital market.
5, the focus of the specification is different. For investment consulting services, emphasis should be placed on preventing fraud and damaging the interests of customers; For the release of research reports, it is emphasized to treat the recipients fairly and prevent conflicts of interest.
Extended data
Business rules
In order to regulate securities companies and securities investment consulting institutions to engage in securities investment consulting business, protect the legitimate rights and interests of investors and maintain the order of the securities market, these Provisions are formulated in accordance with the Securities Law, the Regulations on the Supervision and Administration of Securities Companies and the Interim Measures for the Administration of Securities and Futures Investment Consulting.
Article 2 The securities investment consulting business as mentioned in these Provisions is the basic form of securities investment consulting business, which refers to the business activities in which securities companies and securities investment consulting institutions accept clients' entrustment to provide clients with investment consulting services related to securities and securities-related products, assist clients in making investment decisions and directly or indirectly obtain economic benefits. Investment consulting services include the selection of investment varieties, investment portfolio and financial planning suggestions.
Article 3 Securities companies and securities investment consulting institutions engaged in securities investment consulting business shall abide by laws, administrative regulations and these Provisions, strengthen compliance management, improve internal control, prevent conflicts of interest, and earnestly safeguard the legitimate rights and interests of customers.
Article 4 Securities companies, securities investment consulting institutions and their personnel shall follow the principle of good faith and provide securities investment consulting services to their clients diligently and prudently.
Article 5 Securities companies, securities investment consulting institutions and their personnel shall be faithful to the interests of customers when providing securities investment consulting services, and shall not harm the interests of customers for the benefit of the company and its related parties; Do not harm the interests of clients for the interests of securities investment consultants and their stakeholders; Do not harm the interests of other customers for the benefit of specific customers.
Article 6 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage the securities investment consulting business of securities companies and securities investment consulting institutions according to law.
China Securities Industry Association implements self-discipline management of securities companies and securities investment consulting institutions engaged in securities investment consulting business, and formulates relevant professional norms and codes of conduct in accordance with relevant laws, administrative regulations and these Provisions.
Article 7 A person who provides securities investment consulting services to clients shall have the qualification of securities investment consulting and be registered as a securities investment consultant in China Securities Industry Association. A securities investment consultant may not be registered as a securities analyst at the same time.
Article 8 Securities companies and securities investment consulting institutions shall formulate a management system for securities investment consultants, and strengthen the management of the registration, post responsibilities and practice of securities investment consultants.
Article 9 Securities companies and securities investment consulting institutions shall establish and improve the management system, compliance management and risk control mechanism of securities investment consulting business, covering business promotion, agreement signing, service provision, customer return visits, complaint handling and other business links.
Article 10 When engaging in securities investment consulting business, securities companies and securities investment consulting institutions shall ensure that the number, professional ability, compliance management and risk control of securities investment consulting personnel are suitable for the service mode and business scale.
Article 11 When providing securities investment consulting services to clients, securities companies and securities investment consulting institutions shall, in accordance with the procedures and requirements formulated by the company, know the identity, property and income status, securities investment experience, investment demand and risk preference of clients, evaluate their risk tolerance, and record and save them in the form of written or electronic documents.
References:
Baidu encyclopedia-securities investment consultant