On September 12th, at the Financial Services Special Session of the 2024 China International Fair for Trade in Services, JD Finance collaborated with Industrial and Commercial Bank of China on gold business and with Guangfa Bank on live money wealth management.
The head of JD Finance's Wealth Management Business Department stated that in the past 20 years, the wealth management industry has achieved significant success under the background of economic development, wealth accumulation, and regulatory policies. Whether it is the size of investors, product richness, or market size, it has made great progress. Especially with the help of new asset management regulations and industry transformation, the scale of public funds continues to rise, becoming an important product for residents' wealth management.
Despite the continuous increase in market size, there are various contradictions in the current wealth market, such as the problem of having multiple and complex products and difficult personal choices; Institutions prioritize sales over services, and prioritize investment over customer service. The above-mentioned person in charge stated that in order to address the pain points mentioned above, the wealth management industry urgently needs reform. From the trend, the wealth management industry is expected to undergo significant changes. One is digitalization. Past practice has proven that the value of online and digital in customer profiling, precision marketing, and product promotion is very obvious. In the future, both asset and wealth management institutions will further strengthen their investment in this area.
The second is investment advisory. In order for investors to make money, they require wealth institutions to shift from seller services to buyer services, emphasizing investor centricity and integrating intelligent investment advisory, hybrid investment advisory, and offline professional investment advisory around different customer groups and investment preferences, forming a multi-channel differentiated coverage investment advisory model. This is a model that has been validated by mature overseas capital markets.
The third is ecologicalization. With the awakening of residents' awareness of wealth management and the increasing demand for diversified investment, providing investors with more diversified asset types from a supply perspective to meet the multi asset allocation needs of different customer groups will inevitably become the main trend in the future.
The fourth is globalization. In the short term, investing globally is beneficial for investors to hedge risks or gain unilateral returns. More and more investors are increasing their demand for global asset allocation, and the supply side is gradually expanding. More and more Chinese institutions are launching global investment products.
In response to the above changes, JD Wealth will continue to expand its investment categories. On the one hand, from the perspective of major asset classes, it will expand from funds to products such as stock brokers, gold, insurance, and personal pensions. On the other hand, in terms of the category of public funds, there will also be continuous innovation to expand supply, such as monthly dividend products, mutual recognition funds, etc.