Core Viewpoint - The article emphasizes the importance of goal-based financial planning and asset allocation as a mainstream model in wealth management, highlighting the role of investment advisors in helping clients achieve their financial objectives through structured strategies and dynamic monitoring [1][4][5]. Group 1: Evolution of Investment Advisory - The investment advisory business has evolved over five years from pilot exploration to model upgrading, with significant changes in how financial products are strategized and utilized by various financial institutions [2][3]. - The introduction of regulatory frameworks, such as the draft management regulations for investment advisory services, marks a transition from exploratory practices to standardized operations, defining key characteristics of investment advisory services [3]. Group 2: Goal-Based Financial Planning - The goal-based financial planning model has gained traction in the past two decades, allowing for the breakdown of vague financial aspirations into actionable life goals, which are then matched with appropriate asset allocation strategies [4][5]. - This model has a profound impact on the wealth management industry by shifting the focus from seeking excess returns to helping clients achieve their financial life goals, thus enhancing the value proposition of investment advisory services [5]. Group 3: Local Practices in Financial Planning - Investment advisors are encouraged to help clients prioritize their life goals and create personalized asset allocation plans based on risk tolerance, expected returns, and investment timelines [8]. - A multi-tiered account management system supports the investment advisory service model, allowing for the isolation and dynamic adjustment of funds to meet various client goals [8]. Group 4: Key Insights for Investment Advisory - Four key insights have emerged from the past five years of investment advisory practice: 1. Establishing a systematic understanding of clients and their goals through robust data platforms [9]. 2. Reconstructing business processes and service systems from a buyer's perspective to enhance client service [9]. 3. Promoting agile collaboration among organizational structures, talent, values, and assessment systems to center around client returns [9]. 4. Focusing on the development and upgrade of technological systems to enhance service capabilities through data and AI [9].