Wealth management is a business model gradually emerging in domestic financial institutions in recent years. Unlike traditional "asset management" which mainly invests in the stock market, "wealth management" can invest in a wider range of fields. Wealth management is customer-centered, including investment consulting, life financial planning, asset preservation and appreciation, etc. Now, together with credit business and investment banking business, it has become the three main businesses of global banking, and it is expected to become the most important growth area.

At present, the emergence of a large number of middle-class and affluent classes in China has prompted financial institutions to accelerate financial innovation and product innovation. Wealth management has become the focus of business transformation and upgrading of domestic financial institutions. In addition, from the perspective of gold and crude oil funds linked to global commodities, wealth management products linked to strong currencies such as the Australian dollar, and the rising tide of overseas home purchases, the wealth management needs of the newly rich in China have begun to show a new trend of cross-market and global asset allocation.

In 20 1 1 year, the total investable assets held by individuals in China exceeded 65 trillion yuan, an increase of about 15% compared with the end of 20 10. Among them, from 2008 to 20 1 1, the compound annual growth rate of market value of capital market products is about 55%, and the compound annual growth rate of net investment in real estate is about 40%. At the same time, other types of investment, such as Sunshine Private Equity and Private Equity, have the fastest growth rate, with a compound annual growth rate of about1100% in 2008, which has become a hot investment spot for high-net-worth people. Overseas investment has also become another investment boom for high net worth individuals. From 2008 to 20 1 1, the compound annual growth rate of overseas investment is about 100%, of which the investment is mainly concentrated in Hong Kong.

Wealth management institutions in the market are mainly divided into two camps: public and private. Banks, trusts, insurance companies and securities companies are typical representatives of the "public" faction. In recent years, various organizations have tried to expand their wealth management business by establishing "wealth management centers". The third-party financial institutions headed by noah wealth, Securities Star and Ruiying Fortune are the main force of the "private" faction. At present, more and more "private" private institutions are actively participating in China's wealth management market. In the future, the wealth management business of "public" financial institutions, such as banks, trusts, insurance companies and brokerages, is bound to be strongly challenged.

Compared with other mature markets in Europe or Asia, China is still in the process of financial reform. With the continuous liberalization of China's financial market, customers' demand for products and services has become increasingly complex. Behind China's "Twelfth Five-Year Plan" and income structure adjustment, it further shows that China's current investment-driven growth model will gradually transform into a consumption-driven growth model. Driven by structural adjustment and consumption-driven growth mode, starting from the doubling of national income, China will inevitably breed a "popular" social mainstream group. Wealth management meets the needs of business transformation and upgrading of major domestic financial institutions, and also meets the requirements of domestic economic restructuring. The wealth management industry will be in the golden development stage in the next few years.

Reference foresight. Market prospect and investment strategic planning analysis report of China's wealth management industry.