从“没问题”到十个“为什么”： 信托投资者的2026

Core Viewpoint - The trust investment industry is experiencing a shift where investors are becoming more discerning and moving towards independent research and decision-making, leading to a potential "gentle diversion" in 2026 towards other asset management channels [1][2][6] Group 1: Investor Behavior Changes - Investors are increasingly transitioning from relying on financial advisors to conducting their own research and analysis, with a focus on understanding product performance and risks [2][8] - The criteria for selecting trust products have become more stringent, with negative news leading to immediate rejection of products [2][8] - Investors are utilizing various news and analysis tools, including AI assistants, to validate their investment choices and assess the credibility of trust companies [2][8] Group 2: Industry Challenges and Responses - The trust industry is facing an asset scarcity issue, which is expected to persist into 2026, prompting a focus on core business areas such as family trusts and insurance trusts [3][9] - There is a consensus within the industry to return to fundamental business practices, emphasizing professionalism and compliance as key development themes for 2026 [3][9] - The industry is lacking not just projects but also the professional talent needed to navigate complex legal, tax, and inheritance issues for high-net-worth clients [3][9] Group 3: Regulatory and Trust Issues - The transition towards new business models is hindered by inconsistent regional regulatory policies and a historical trust deficit among investors [4][10] - Investors often react with suspicion to fluctuations in product net values, questioning the integrity of trust companies [4][10] Group 4: Building Sustainable Trust Relationships - The industry is seeking to establish healthier, more sustainable trust relationships characterized by transparency and mutual trust between clients and trust companies [5][11] - There is a strong demand for improved information disclosure regarding product performance and underlying assets to enhance investor confidence [5][11] - The integration of AI and big data into risk control, investment research, and customer service is expected to become essential for institutions in 2026 [5][11] Group 5: Future Positioning of Trust Companies - Trust companies are likely to redefine their roles from traditional financial products to comprehensive financial solution providers, particularly for wealth inheritance needs [6][12] - The industry is expected to focus on niche areas such as industrial finance and green trusts, with larger firms leading the way while smaller institutions face pressure to adapt [5][12]