There are several links before and after the conference. Please come to CICC Research Institute, Wealth Service Center, Global Family Office and Tencent to share them.
In fact, only two things were talked about during the whole session: CICC's research ability and its ability to provide solutions.
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The first part of the conference focuses on the role of CIO, which embodies the buyer's research position.
CIO's full name is Chief Investment Officer, and this role belongs to CICC Wealth Service Center. In other words, the wealth management business department of CICC has raised the research to a very high level.
this is related to the concept of "buyer research" that CICC has always advertised. Generally speaking, the concept of buyer and seller is mainly in the field of asset management or investment research. For example, fund companies are buyers and brokerage research institutes are sellers. The so-called buyer's research means that CICC regards the customer's assets as a whole as a piece of funds to be invested, and through the research and investment from the buyer's perspective, it receives reasonable investable assets and then provides dynamic post-investment services, thus completing the whole link of wealth management.
therefore, the role of CIO is equivalent to the starting point of the whole business chain. As long as it can be accurate in the general direction, it can ensure customers' long-term benefits, thus deepening the service relationship.
comparing with traditional financial institutions, there may be no such function as research in the business department, or it may be connected through the mechanism outside the system. However, the research institute has its own realization mode after all, and it is impossible to be responsible for the investment results of retail customers.
In this way, the positioning of the first two parts of CICC's conference (Institute +CIO Office) may be slightly biased. If more emphasis is placed on the value and purpose of the CIO function, rather than judging the market, it may leave a deeper impression on the audience.
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The second part of the conference focused on three solutions provided by CICC Fortune.
Although these three solutions are oriented to different customers and scenarios, together, we can see the biggest boundary of the combined CICC, or a head brokerage.
in this part of wealth planning, the highlight is to consider the design of the solution from the customer's point of view. So in the next page, the three classic scenes are children's education, real estate and retirement planning.
friends who have passed the investment qualification know that these things are required in the classic asset allocation textbooks, but they look a bit empty when they get into the business. China people don't seem to rely much on financial institutions to do these things-basically, only you know what's going on in your family, and this abacus is actually being played by yourself.
Of course, different people have different abacus. If they are too short-sighted or unclear, it will be difficult to have a good result in the end. So this part of the content spent a lot of time talking about ideas. This is also the purpose of CICC's "planning service": to make the vague things clear.
so, what does CICC ultimately rely on to turn these needs into business? The answer is sub-account (the right half of the figure below). The main distinguishing standard of these sub-accounts is the investment period.
Wealth planning is perhaps the most difficult thing to achieve among the three solutions, especially after the customers of CIC Securities are in the CICC system. As far as Chinese people's investment habits are concerned, this is a new battlefield and needs long-term market cultivation.
This thing named "Zhongjin Fortune China 5" is actually a set of solutions to both the product side and the service side. Its "5" here refers to a product pool with public offering and private offering, which is positioned in the customized configuration target pool of high-end customers. According to the business person in charge, these 5 products are not static, but 1% of them will be replaced every year.
CICC is not the first institution to put forward this idea. Shen Wanhongyuan once released a similar solution called "Private 5 Plan". The All-Star FOF launched by CITIC Securities in 218 is also a similar idea, but the final product form is different, and CITIC prefers to do it in one step.
it is not difficult to achieve 5 institutions or 5 products. as long as there is sales, the asset management institutions will catch up to cooperate. Even in China, the evaluation of public and private products is not new. Models and systems are on the one hand, but it is more important to get the firm data of managers and the qualitative grasp based on research.
this pool can be understood as a basic pool, which will eventually match the CIO's judgment on the market direction and come up with different specific configuration schemes. Therefore, it attaches importance to the stability of the product (underlying assets) itself, rather than the excess income created in a specific period of time.
Of course, "China 5" is also an important means for CICC to make up for the shortage of its own product line, and it needs to win over high-quality managers through such a set of solutions. Speaking of this, some friends may think of a business strategy of CICC Fortune reported by the media before:
To tell the truth, this speech can be written into textbooks. As the predecessor of top financial institutions, Man Liu's speech level is impressive. After the whole paragraph, I only remember one sentence: "We are not only serving them, we are part of them" (referring to walking with customers).
the main service scope of gfo includes investment banking, investment management, consulting and family affairs, and the main target group is entrepreneurs, especially private entrepreneurs. Many grand narratives were used in the middle of the speech, echoing the "thinking about the country" in the middle of Zhongjin culture. Obviously, this is not easy to imitate.
It was mentioned in the speech that GFO is not only a new department, but also an inter-departmental organization. It still confirms the idea that wealth management is a comprehensive business that needs to mobilize multiple resources-the opposite of this sentence is that it is increasingly difficult for a single business form to meet the needs of customers and complete a closed loop within the self-system.
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The last paragraph of Tencent talked about Tencent's exploration in financial business, with few highlights. Generally speaking, it is worth paying attention to Tencent's excavation of customer relationship network and its in-depth portrayal of customer image.
it must be of great economic value to be able to "know the person without knowing his face" through data. Wechat recently accessed ICBC's bank savings service, which is also improving Tencent's customer image characterization dimension. Perhaps a long time ago, bank leaders thought that only they could do this.
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The above are some impressions after watching the conference of upgrading CICC's wealth strategy, and they are only for chatting after dinner. Times are changing. The sooner you understand, the sooner you can start.
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