In the bank wealth management product manual, we often see such a statement: the expected rate of return of the product = the expected rate of return of the investment in the wealth management plan-the sales expenses of the wealth management product-the custody fee and other expenses.

Sales expenses are paid to the account manager who provides you with financial services and the back-office operation department related to sales. The more products the bank wealth manager sells, the higher his commission. Whether this product is really suitable for investors is another matter.

Custody fee is the fee drawn by banks for the custody of wealth management assets, which needs to be used to supervise the investment operation of wealth management managers, who are also banks and can be said to supervise themselves.

According to the data of Yinlv.com, the average custody fee and sales fee of bank wealth management products issued since 20 13 are 0.05% and 0.26% respectively.

If you really charge according to this standard, the bank is very kind.

As a profit-making institution, it is understandable that banks charge fees and custody fees, and banks have fulfilled their obligations and responsibilities to inform investors.

However, some hidden costs are unknown to investors, and these costs often account for a larger proportion.

2. Intangible expenses

We often see such a sentence in the manual of bank wealth management products: If the actual investment income of this product is higher than the capped income that customers can get after deducting other expenses, the excess will be regarded as investment management fee.

However, most banks do not indicate how much the "investment management fee" is, and there is generally no upper limit, so the outside world does not know how much the bank has collected.

According to the business data of a city commercial bank, some insiders estimate that the "investment management fee" may account for more than 40% of investors' income, which shows that banks have collected a lot of fees from it.

CCB once issued a floating income product named "dry yuan-private enjoyment", and its product description shows that "the expected annualized net return of the portfolio to be invested in this product is 5.7%-6.8%, the sales rate is 0.02% and the product custody rate is 0.05%/ year. After deducting these expenses, the actual yield of this product should be 5.45%-6.55%.

However, the instructions remind customers that the expected annualized rate of return is 4.7%, which means that the income of 0.7%- 1.75% has disappeared and was taken away by the bank unnoticed.

Without careful calculation, it is difficult for customers to find this problem.

3. Extend the deposit period of funds

In addition to various expenses, bank wealth management products still have some income losses in the "waiting".

In the process of purchasing wealth management products, people often ignore an important detail, that is, the time when the principal is frozen by the bank is longer than the management period of the products.

Usually 6% of bank wealth management products are delicious. In order to grab such a product, many investors get up early in the morning and stare at the computer, or ask the financial manager to leave a quota for themselves.

But you will find that there are still several days before the value date of this product, which means that the purchase date is not equal to the value date.

From the date of purchase to the value date, you can only calculate the interest according to the current interest, which means that the time you hold the bank wealth management products has invisibly increased by several days.

In addition, the maturity date of bank wealth management products is not the arrival date, and the arrival date is usually later than the maturity date. During this period, your wealth management funds only enjoy current interest.

The term of wealth management products mainly includes the collection period, product period and liquidation period. The term of bank wealth management products mentioned in the manual mainly refers to the term of products, not the actual storage days of products.

In this way, the customer's income is diluted.

Every time a bank is assessed, high-yield bank wealth management products emerge one after another.

By arranging the financing term, the bank converts a large amount of financing funds into demand deposits and returns them to the table to help the bank pass the loan-to-deposit ratio assessment.

On the surface, banks are giving profits to customers, but in fact they are considering their own interests.

When issuing wealth management products, banks consider more than these for themselves.

At present, 80% of bank wealth management is non-guaranteed floating income, and guaranteed products only account for about 20%.

Judging from the past payment records, the probability of non-guaranteed products being paid according to the expected rate of return is very high, and its risk is not high. Moreover, the income of non-guaranteed products is generally higher than that of guaranteed products 1.5%-2%, and the cost performance is higher. Many investors don't understand this and think that non-guaranteed wealth management products are very risky, so they buy guaranteed wealth management products.

In fact, in many cases, the capital investment of capital preservation products and non-capital preservation products is similar, and the income of linked assets is similar. Why are the benefits to customers different?

This is because, within banks, capital-guaranteed products are listed as part of bank deposits, and banks need to withdraw more deposit reserves for this purpose, thus eroding the income of capital-guaranteed wealth management products.