This article comes from micro-channel public number: new global asset allocation (ID: SmartGAA) , author: Meng Mei
With the opening of the “Investment Advisory Pilot”, institutions represented by securities firms are undergoing a vigorous transformation towards wealth management. However, as the development of China’s wealth management industry is still in its infancy, the development of its financial market is not complete, and the corresponding supporting regulations and systems have not been fully established. Although commercial banks, trust companies, insurance companies, trusts, securities firms, and third-party financial institutions have tried to divide up the delicious “cake” of wealth management, they are all lawless. The wealth management of various financial institutions is basically in a contradictory state of “herd-seeking” and “blindness”.
Looking at the world, the United States, as the world’s most mature, largest and most developed wealth management market, has a certain reference for its development path. By benchmarking the development of the US securities industry, we are in the 80s of the United States in the time window of business innovation and diversified development. If we look back at the path of American wealth management and clarify the logic behind its rise, we will have a different perspective.
The wild era before the transformation of American wealth management (1920s-1960s)
The “Chaotic Development” of US Wealth Management before the 1929 Stock Market Disaster
Because of the background of foreign mixed operations, wealth management (Wealth Management) is a very broad concept. Wealth management business abroad usually refers to