Is there a big difference between buying a fund in a bank and buying a fund in a securities company?
Whether you buy funds through banks or brokers, the funds you buy are formal, and there is no difference in the essence of funds. The difference mainly lies in the handling fee and the variety of funds that can be purchased.
Let's start with the handling fee. Compared with brokers, there are fewer fee concessions for simply buying funds in banks. First of all, this is because banks focus on deposit and loan business. With the expansion of banking business scope, the funds included started late. Whether it is necessary to attract customers through preferential treatment is not important enough for the overall business of banks. It is also said that because banks are trustworthy, people who buy funds basically choose to deposit and lend in banks for a long time. For them, what they want is peace of mind, not the level of fees, so banks don't make many adjustments. However, if the bank's online banking business is opened, the commission discount for purchasing funds in online banking is still quite large.
Then there is the difference between fund types. If investors want to buy OTC funds, that is, fund products that can be traded like stocks, investors need to open securities accounts first, and banks cannot open securities accounts. Therefore, securities companies can sell OTC funds like banks.
How to choose?
Banks and securities companies sell funds on a commission basis, and fund companies sell funds directly. If you need to buy a fund, you can consult the fund company directly. After all, this is their main business.
If you choose between banks and brokers, it will be more convenient for investors to buy directly from securities companies if they have securities accounts in brokers and often use them for trading. Although brokers and bank sales funds are subject to considerable supervision, some investors just trust banks more, so in the case of choosing banks, it is recommended to buy funds to open online banking.