1. Wealth management refers to designing a comprehensive financial plan with customers as the center. By providing customers with a series of financial services such as cash, credit, insurance and portfolio, it comprehensively manages customers' assets, liabilities and liquidity, meets customers' financial needs at different stages, and helps customers achieve the purpose of reducing risks, preserving wealth, increasing value and inheriting.
There are three main differences between wealth management and general wealth management business:
First, in essence, the wealth management business is customer-centered, aiming at designing a comprehensive financial plan for customers to meet their financial needs; Generally speaking, the wealth management business is product-centered, with the purpose of better selling its own wealth management products.
Secondly, from the service provider's point of view, wealth management business is a mature wealth management business, with many subjects, not only in the banking industry, but also in various non-bank financial institutions. The general wealth management business is mostly limited to the traditional business and intermediary business provided by commercial banks.
Third, from the perspective of clients, wealth management business is not limited to personal wealth management, but also includes asset management of enterprises and institutions, with a wide range of clients; General wealth management business is in the initial stage of its development. As a financial product of China's commercial banks, it mainly refers to the packaging of personal financial products of banks, and most customers are private. Wealth management has three distinct characteristics: customer-centered, numerous customers and wide customers, which makes it different from the general wealth management business and becomes a mature stage of wealth management services.