On March 31st, a fund advisory agency recently received a letter from a client. This client has been holding the high-yield portfolio recommended by this institution for over a year, and even though the Shanghai Composite Index fell to around 2600 points at one point, they still persisted in following the investment advisor’s signals for investment. However, recently seeing the continuous fluctuations in his investment advisory account, which was once on the verge of recouping its investment, his confusion and anxiety in investment have only deepened. The story of this investor is like a prism, reflecting the deep-seated problems of the fund advisory industry, such as “operating at market highs but failing to provide customers with a good positive return experience”, “investment advisory institutions not making money, and business models difficult to sustain in the long run”, and “single underlying configurable strategy tools”. However, in the eyes of various institutions, fund advisory business is a long-term and slow conversion business that needs to be viewed with a long-term and developmental perspective, and done with difficulty and correctness. Various institutions are actively exploring development and transformation directions, and the industry is undergoing some positive changes, reshaping the industry landscape. With the gradual transition of the fund advisory pilot to a regular practice, this buyer advisory revolution, which began five years ago, is crossing the valley of industry pains and brewing new life in business transformation and ecological reconstruction. (China Securities Journal)
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