费率最低降至0％！银行理财降费潮再起，全力抢滩存款搬家

Core Viewpoint - The banking wealth management industry is experiencing a new wave of fee reductions, driven by intensified competition and the need for fund reallocation in a low-interest-rate environment [2][4][5]. Group 1: Fee Reductions - Several wealth management companies, including 招银理财, 中银理财, and 宁银理财, have announced significant reductions in investment management fees and sales service fees, with some products' fees dropping to as low as 0% [2][3]. - 招银理财 has implemented fee reductions for multiple cash management and fixed-income products, with a specific product's management fee dropping from 0.15% to 0% during the promotional period from January 14 to March 31 [3]. - 中银理财 has also reduced the management fee of a fixed-income enhancement product from 0.25% to 0.05%, with a planned return to 0.2% by April 8 [3]. Group 2: Market Dynamics - The current wave of fee reductions is primarily driven by the need to attract funds from "deposit migration," as customers shift their funds from low-yield deposits to higher-yield wealth management products [4][6]. - The competition among wealth management companies has intensified, with the number of wealth management subsidiaries increasing to 32, leading to a focus on "price for volume" strategies to capture market share [5]. - The trend of declining deposit rates since 2025 has accelerated the "deposit migration" trend, with an estimated 32 trillion yuan in long-term deposits maturing in 2026, 61% of which will mature in the first quarter [4][6]. Group 3: Future Outlook - The wealth management industry is projected to grow significantly, with estimates suggesting that the total scale could exceed 35 trillion yuan in 2026, driven by the dual forces of deposit migration and asset allocation needs [6][7]. - The structure of wealth management products is expected to continue evolving, with a shift towards "fixed income plus" products and an increased focus on service quality and customer engagement [7].