Li has worked in a securities company for many years and is familiar with the securities market and the stock market. After resigning, Li wants to use his own experience to open a valet financing company, and plans to buy securities and stocks on behalf of others by absorbing other people's funds, and carry out related operations, and collect commissions from them. Excuse me: Can Li set up the company? First of all, in this case, the personal wealth management business that Li wants to operate belongs to the personal wealth management business stipulated in Chinese laws and regulations. According to the relevant laws and regulations of our country, personal financing business belongs to financial business, and non-financial institutions are prohibited from operating in our country. In other words, in China, only five types of companies, such as commercial banks, securities companies, trust companies, fund companies and insurance companies, are allowed to operate personal financial services. It is illegal for an individual to set up a personal wealth management company to operate personal wealth management business. Therefore, Li can't set up the valet financing company, and his request to set up the valet financing company will not be approved by the industrial and commercial department.

Secondly, it is illegal for individuals to manage financial services on behalf of customers, but not all personal financial services on behalf of others are illegal. Under normal circumstances, the following two situations are not illegal:

1. Giving money to others to invest in personal financial products developed by financial institutions based on trust between relatives and friends;

2. With regard to the name of the account or the name of the principal, if the principal authorizes the trustee to purchase stocks, securities and other operations, and informs the trustee of his account, funds, passwords and other information, the trustee's related operations and commission withdrawal do not violate the prohibitive provisions of laws and administrative regulations, and generally will not be considered as illegal.

in addition, it should be noted that in the case of personal illegal financial management on behalf of customers, the entrusted financial management contract signed by both parties will generally be deemed invalid due to the mandatory provisions of illegal laws and administrative regulations, and the interest, dividends and other fruits generated will also be confiscated. Relevant laws and regulations: Interim Measures for the Management of Personal Financial Services of Commercial Banks, Interim Measures for the Management of Securities and Futures Investment Consulting, and Guidelines for the Risk Management of Personal Financial Services of Commercial Banks.