Core Viewpoint - The investment advisory platform "Qie Man" has significantly changed its fee structure for its popular investment plans, transitioning from a model where transaction fees offset advisory fees to a monthly advisory fee system, which has sparked considerable discussion within the industry [1][8]. Fee Structure Changes - The new fee structure for the "Changying Index Investment Plan" includes: - 0.5% per year for assets below 1 million - 0.45% per year for assets between 1 million and 3 million - 0.4% per year for assets between 3 million and 5 million - 0.35% per year for assets above 5 million - A monthly fee cap of 2000 yuan [2][4][5]. Impact on Investors - The introduction of a 0.5% advisory fee represents an additional cost for investors, as they previously only paid management fees to the fund companies, which were already deducted from the net asset value [5][8]. - The "Changying 150" plan has a cumulative return of 69.74% and an annualized return of 5.26%, but the new fee structure could reduce the annualized return to approximately 4.75% after accounting for the advisory fee [8][10]. Industry Context - The fee changes are a response to new industry regulations that prohibit advisory firms from charging clients multiple fees on the same assets, effectively ending the previous model of offsetting advisory fees with transaction fees [8][26]. - The shift reflects a broader trend in the investment advisory industry moving from "wild growth" to "regulated development," where firms must provide genuine services and charge for their value [26]. User Sentiment and Reactions - There is significant concern among investors regarding the new fees, with some expressing dissatisfaction and considering withdrawing their investments [17][20]. - The platform's popularity, driven by influential figures like "E Da," raises questions about whether the added costs will lead to a loss of followers and funds [20][26].