【导读】"平安30"保有规模突破百亿元，知名国际投资大咖看多中国 11月23日下午，平安证券在深圳成功举办"高净值人群投资论坛暨平安30解决方案升级发布会"。会上， 平安证券披露了三年前推出的平安30的运作重要数据：保有规模突破百亿元、服务5482位客户、创造 8.6亿元绝对收益。 会上，六位投资大咖发声，围绕中国资本市场的投资机遇进行研讨。参会嘉宾表示，中国独特且难以复 制的产业与创新生态系统，正持续吸引海外资本重新审视并积极配置中国资产。 "平安30"三年成绩单：保有规模突破100亿元 在本次论坛上，平安证券还举行了"平安30解决方案升级发布仪式"，此次升级标志着平安30从"产品组 合提供者"向"客户主账户管家"的战略升级，致力于打造一个以客户金融资产账户为中心、全市场选 基、动态调优、服务闭环的智能化财富管理"家"。 平安证券资产管理事业部组合投资团队执行总经理李昭明表示："过去，客户是'拼积木'式地管理财 富；未来，平安30要成为那个稳固、安心、智慧的'财富之家'。我们不仅仅提供投资组合，更是为客户 守护一生的财富目标。" 知名投资大咖：全球资本重新审视中国资产 知名国际投资机构毕盛资产的创始人、执行 ...

Core Insights - The wealth management market in India for high-net-worth individuals (HNWIs) is expanding, driven by economic growth and an increase in the number of young and affluent individuals, including those from outside major cities [5][6][7] - There is a growing interest among HNWIs in alternative investment funds (AIFs) for portfolio diversification, alongside an increasing demand for personalized asset management services [5][10] - The establishment of family offices is becoming more common as ultra-high-net-worth individuals (UHNWIs) seek to manage and grow family assets, shifting focus from asset preservation to asset appreciation [5][23][28] - Local banks are enhancing their private banking services for HNWIs, while foreign financial institutions are expanding their offerings for UHNWIs and family offices, with increased collaboration between local and foreign entities [5][30] Group 1: Overview of the Indian HNWI Market - The number of HNWIs in India is projected to grow from 798,000 in 2022 to 1.657 million by 2027, with ultra-HNWIs expected to increase from 13,000 in 2023 to 20,000 by 2028 [7][8] - The financial assets of the top 4-5% of households in India are estimated to grow from approximately $1.1 trillion in 2024 to about $2.3 trillion by 2029 [7][8] - The demographic of HNWIs is shifting, with a notable increase in individuals aged 30-40, and predictions suggest that the proportion of HNWIs under 30 will rise from 15% to 25% by 2030 [7][8] Group 2: Asset Management Trends Among HNWIs - HNWIs in India typically adopt a diversified investment strategy, with a portfolio composition of 39% in stocks, 20% in bonds, 19% in real estate, and 10% in commodities [11][12] - There is a rising interest in AIFs, which are regulated by the Securities and Exchange Board of India (SEBI), with a total of 1,526 AIFs as of March 2025 [12][13] - Approximately 70% of HNWIs are now considering ESG factors in their investment strategies, with 20% having over 20% of their portfolios in ESG-related assets [13][15] Group 3: Growth of Family Offices - The number of family offices in India has increased to around 300 in 2023, with an estimated total AUM of $30 billion in 2024 [24][28] - The trend of establishing family offices is driven by the need for professional asset management and the generational transition of wealth, with predictions indicating that 50% of HNWIs will inherit assets by 2030 [24][28] - Prominent families, such as those of Wipro and Tata Group, have established family offices to manage their wealth effectively [25][26] Group 4: Financial Institutions' Strategies - Local banks like ICICI and Kotak Mahindra are enhancing their private banking services, with ICICI's AUM reaching $67 billion and Kotak's AUM at ₹9.3 trillion as of March 2025 [31][35] - Foreign banks such as Standard Chartered and Barclays are expanding their private banking operations, focusing on UHNWIs and family offices, with Barclays aiming to quadruple its AUM in Asia [37][39] - The collaboration between local and foreign financial institutions is increasing, allowing for a more comprehensive service offering to HNWIs and UHNWIs [44]

Core Insights - The brokerage industry has experienced a significant profit surge, with net profits increasing by 62% year-on-year, driven by a combination of market activity and structural changes within the industry [2][5]. Group 1: Performance Overview - The brokerage sector reported total revenues of 419.5 billion and net profits of 169 billion, reflecting year-on-year growth of 42.55% and 62.38% respectively [2]. - Ten brokerages saw their net profits double, with Guolian and Minsheng achieving growth rates exceeding 300% [3]. - The industry's performance is attributed not only to a bullish market but also to a deep restructuring that has led to scale efficiencies, particularly among merged brokerages [5]. Group 2: Beneficiary Landscape - Financial IT service providers are the primary beneficiaries of the brokerage boom, with increased demand for trading system upgrades and risk control systems [7]. - The financial technology sector is experiencing new opportunities, particularly in digital advisory and intelligent risk control services [7]. - The wealth management value chain is becoming more prominent, as enhanced brokerage capabilities drive growth in fund distribution and asset allocation services [7]. Group 3: Future Trends - The brokerage industry is undergoing a transformation from being a typical cyclical sector to one focused on growth, with a rising proportion of light asset businesses and reduced earnings volatility [9]. - International expansion is accelerating, with cross-border business becoming a new growth driver, as leading brokerages increase their overseas revenue share [9]. - The industry's valuation framework may need to be restructured in light of these changes [9]. Conclusion - The ongoing transformation in the brokerage sector indicates that when traditional industries discover new growth logic, value reassessment is inevitable, emphasizing the importance of identifying companies with core competitive advantages [11][12].

Core Viewpoint - The new "National Nine Articles" policy has elevated wealth management capabilities from an "add-on" to a "must-answer question" for the high-quality development of securities firms, emphasizing the importance of focusing on core business and serving residents' wealth growth [2] Group 1: Awards Overview - The 2025 Golden Unicorn Best Wealth Management Institution selection has been officially launched by Sina Finance, aiming to identify industry benchmarks excelling in comprehensive strength, growth speed, digital integration, and ecological innovation [2] - This year's selection has been upgraded to include eight major awards, focusing on various dimensions such as comprehensive strength, growth momentum, technological empowerment, and ecological construction [2] Group 2: Award Categories - The eight award categories include: - 2025 Golden Unicorn · Best All-Round Wealth Management Institution: Recognizes firms leading in asset scale, business structure, service quality, and brand reputation [3] - 2025 Golden Unicorn · Best Wealth Management Growth Institution: Acknowledges firms demonstrating exceptional growth potential and resilience [3] - 2025 Golden Unicorn · Best AI and Large Model Application Award: Focuses on the application breadth and depth of AI and large models in intelligent advisory and decision support [3] - 2025 Golden Unicorn · Best Digital Service Platform Award: Rewards firms that successfully build one-stop service platforms driven by data and intelligence [3] - 2025 Golden Unicorn · Best Omni-Channel Traffic Operation Pioneer Award: Recognizes firms that break traditional channels and achieve integration of online and offline operations [3] - 2025 Golden Unicorn · Best Financial Product Ecological Innovation Award: Encourages firms to move beyond single product sales to a more integrated ecological approach [3] - 2025 Golden Unicorn · Best Financial Technology Empowerment Award: Focuses on firms enhancing core backend technology capabilities [4] - 2025 Golden Unicorn · Best Brokerage APP Operation Award: Acknowledges teams that excel in user engagement and service integration through their APP [4] Group 3: Evaluation Criteria - The evaluation of the Best Wealth Management Institution awards will consider various indicators, including brokerage business performance, advisory service status, APP service metrics, and financial product distribution [4] - The final awards will be determined by a combination of investor network voting (40%), business data indicators (40%), and expert reviews (20%) [4]

张皓表示，未来资产作为一家韩国资产管理机构，香港是该公司布局的重点地区：一方面，可借助香 港，服务中国国内投资者布局海外资产；另一方面，通过香港为包括韩国在内的海外投资者搭建投资中 国的桥梁，充分发挥互联互通的枢纽作用。 谈及该公司未来在大湾区市场乃至中国内地市场如何布局财富管理业务，张皓表示，该公司认为财富管 理的本质并非单一产品销售，而是从投资者需求出发，实现财富的稳健增值。大湾区作为高水平对外开 放的前沿阵地，财富管理需求旺盛且多元，希望依托香港市场的政策与机制优势，为投资者提供内地市 场难以覆盖的创新策略与跨境资产配置工具。 2025湾区财富大会由21世纪经济报道、深圳金博会运营发展有限公司联合主办，广东粤港澳大湾区研究 院、湾区金融大咖会提供智库支持。 21世纪经济报道记者 庞成 深圳报道 今年以来，香港资本市场吸引力持续提升，IPO热潮不断攀升。在这一轮热潮中，来自世界各地国际资 本的身影愈发活跃，包括未来资产、瑞银、富国基金等全球知名机构，多次出现在港股IPO的基石投资 者名单中，显示出国际资本对香港资本市场的高度认可。 "香港对我们而言具有'超级连接器'的核心地位。"11月20日，2025湾区 ...

记者丨崔文静 编辑丨巫燕玲 你的金融健康达标了吗？一份最新发布的研究报告给出了参考答案。 11月18日，《拥抱金融健康：财富管理助力普惠金融高质量发展路径与实践》白皮书在京发布，这份由 中金财富与中国人民大学中国普惠金融研究院联合完成的报告显示，近七成受访者金融健康达标，但财 务掌控力、风险管理能力等短板依然突出。 这份报告首次系统性地将"金融健康"理念引入财富管理领域。什么是金融健康？报告提出了通俗易懂 的"三天"理论：既要管好今天的花销，又要备足明天的应急金，还要规划后天的养老教育。这意味着， 衡量一个人财务状况的好坏，不再只是看存款数字，更要看应对风险、规划未来的能力。 令人意外的是，报告揭示了一个反常识的现象：炒股的人反而更会存钱。数据显示，参与权益投资的受 访者中，超过八成的人都备足了6个月以上的应急资金，这一比例远高于非投资群体。专家解释，参与 股市投资与金融健康之间存在双向促进的关系——良好的金融健康状况是参与风险市场投资的基础和保 障，而持续的投资实践可以帮助居民更好地了解金融市场，通过主动学习获取信息，有意识地增强自身 风险防范能力，提高财务韧性，形成正向循环。 随着数字时代的到来，财富管理 ...

Core Insights - The Greater Bay Area (GBA) is experiencing accelerated integration and development, with increasing cross-border financial and wealth management service demands driven by the growing movement of people between Hong Kong and mainland China [1][6][12] Group 1: Financial Services Demand - There is a noticeable increase in both "southbound" and "northbound" customers seeking financial services, indicating a diverse demand for banking and wealth management in the GBA [1][6] - HSBC has expanded its personal banking and wealth management services in the region to cater to the evolving needs of residents [1][6] Group 2: Service Enhancements - HSBC is investing in digital channels and enhancing branch service capabilities to improve customer experience and meet the rising cross-border service demands [3][5] - New flagship wealth management branches have been opened in Shenzhen and Guangzhou, featuring innovative service areas and community engagement activities [3][5] Group 3: Wealth Management Opportunities - The GBA is identified as one of China's wealthiest regions, presenting significant growth opportunities in the wealth management market as residents accumulate wealth and seek diversified global asset allocation [6][12] - HSBC offers a variety of products for global asset allocation, including QDII and QDLP funds, to meet the needs of clients in both mainland China and Hong Kong [6][7] Group 4: Comprehensive Financial Services - HSBC is developing a comprehensive financial service system to address the diverse needs of GBA residents, focusing on personal and family health, retirement, wealth management, and insurance [9][10] - The bank has established health management centers and partnerships with medical institutions to enhance the healthcare experience for clients in the GBA [10] Group 5: Future Outlook - The GBA's population exceeds 87 million, leading to a substantial demand for financial services related to retirement and wealth management, with long-term growth potential in these areas [12] - HSBC is committed to expanding its operations in the GBA, viewing it as a strategic priority for business development and investment [12]

Group 1 - The core objective of the event was to instill scientific investment concepts and compliance awareness among students at Jinan University, as part of the "Investor Education into Hundreds of Schools" initiative by China Merchants Securities [1][2] - The course on "Investor Suitability Management" emphasized the protective role of suitability management in investment, using real-life cases to illustrate the risks of blind leverage [1] - The interactive teaching method combined Q&A and case analysis to enhance students' interest and understanding of professional content [1] Group 2 - The "Wealth Management Career Development Planning" session provided systematic employment guidance, detailing job types, core competency requirements, and typical career advancement paths in the wealth management sector [2] - The session also addressed the opportunities and challenges in wealth management amid digital transformation, encouraging students to plan their career paths early [2] - China Merchants Securities aims to deepen cooperation with universities and offer more practical courses and simulations to enhance students' risk awareness and wealth management skills [2]

年会期间，21世纪金融研究院还将重磅发布《2025中国银行业竞争力研究报告》与《中国保险业竞争力 研究报告（2025）》，并同步揭晓"2025年度21世纪金融竞争力优秀案例""2025南财数字金融'先锋'案 例"，为金融行业发展提供极具价值的实践参考与方向指引。 11月22日，我们诚挚邀请各方嘉宾聚首北京，在思想的碰撞中凝聚共识，在深度的探索中破解难题，携 手共绘中国金融业高质量发展的崭新蓝图！ 立足二十周年的里程碑，本届年会以"重塑金融韧性 穿越利率周期"为主题，汇聚监管层代表、金融机 构领军人物及权威专家学者。近五十位重磅嘉宾将通过主题演讲、平行论坛、圆桌对话等多元形式，共 同剖析周期运行规律、探寻行业破局之道、共话金融未来发展。 面对利率波动，如何稳固经营基本盘？怎样以金融活水精准浇灌高水平科技自立自强的沃土？又该如何 破解低利率环境下财富管理的发展难题？针对这些行业核心关切，本届年会在主论坛之外，特别设 置"金融助力高水平科技自立自强""财富管理的低利率之问"两大主题论坛，直击行业痛点，共商解决方 案。 21世纪经济报道记者 张欣 金融是国民经济的血脉,关乎强国建设、民族复兴大局。值此"十五五"规划擘 ...

Core Insights - The brokerage business remains a focal point for the market, with the average commission rate across the industry currently around 0.02% [1] - The downward pressure on commission rates has led brokerages to adopt a "volume compensates for price" strategy to achieve short-term performance growth while accelerating the transition towards wealth management and other areas for long-term development [1] Commission Rate Decline - The decline in commission rates is a long-term trend in the brokerage business, with the average commission rate for A-shares in Shanghai dropping to 0.0192% in October, a 2.5% decrease from the previous month and significantly lower than last year's average of 0.024% [2] - Nationwide, the average commission rate for brokerage businesses is projected to be 0.024% in 2024, down from 0.0215% in the first half of this year, indicating a continued downward trend [3] Revenue Growth and Market Activity - Despite the declining commission rates, high market transaction volumes have supported brokerage revenue, with net income from brokerage businesses increasing by 48.22% year-on-year in the first half of the year [3] - Listed brokerages have shown even stronger performance, with net income from brokerage services rising by 74.64% year-on-year in the first three quarters, highlighting their advantages in client resources and service capabilities [3] Challenges and Strategic Shifts - The "volume compensates for price" strategy faces uncertainties, as some brokerages are beginning to see commission rates rebound after years of competition [4] - Brokerages are exploring various strategies to reduce reliance on transaction volumes, including enhancing app user experience, leveraging new media for customer acquisition, and transitioning from transaction-based to profit-sharing commission models [4] Business Transformation Acceleration - Regulatory bodies are encouraging financial institutions to focus on customer-centric services, emphasizing the need for brokerages to enhance their professional capabilities and service quality [5] - The competition in brokerage services is shifting towards specialized wealth management, asset allocation capabilities, and overall customer service experience [6] Future Outlook - Analysts predict that various new funds will continue to flow into the capital markets, supporting the brokerage business, with leading brokerages benefiting more due to their higher market share in equity funds [7] - The shift towards public domain traffic for customer acquisition and innovations in AI technology are expected to create new opportunities for wealth management services [7]