官宣在即！基金投顾将从试点走向常规，财富管理迎来里程碑式变革

Core Insights - The current bull market has significantly favored the growth of passive index funds, with active equity products showing relatively modest increases in scale [1] - The shift in focus from "sell-side sales" to "buy-side advisory" reflects a broader transformation in the public fund industry towards prioritizing client asset management over mere scale [2][3] Group 1: Market Trends - In 2025, the increase in non-money market fund products was primarily driven by passive index funds, with no active products showing significant growth [1] - The top passive index funds, such as the Huaxia CSI 300 ETF and the Huatai-PB CSI 300 ETF, have substantial assets under management, indicating strong investor preference for these products [2] Group 2: Regulatory Changes - The regulatory push for the transition of fund advisory business from pilot programs to regular practice signifies a deep transformation in the wealth management industry towards a client-centric model [3] - The China Securities Regulatory Commission initiated the fund investment advisory business pilot in October 2019, with a clear directive in 2025 to promote this transition for high-quality industry development [3] Group 3: Future Outlook - The future of fund advisory is expected to expand beyond public funds to include ETFs and REITs, providing a broader range of investment tools for asset allocation [3] - Predictions suggest that by 2030, the market size for fund advisory could exceed 10 trillion yuan, emphasizing the importance of research capabilities, client service experience, and technology application in industry competition [3]