Core Insights - The article discusses the balance between innovation and risk in the financial management sector, particularly in response to the ongoing trend of "deposit migration" as deposit rates decline [1][7] - Financial institutions are adopting various strategies to attract funds, including lowering fees, introducing floating fee rate products, and offering customized financial products [2][3][6] Group 1: Market Trends - A significant increase in non-bank deposits was reported, reaching a near ten-year high in May, indicating a shift of funds from traditional bank deposits to financial products [1][7] - The bank wealth management market is experiencing structural changes, with a notable growth in the scale of bank wealth management products, which increased by 340 billion yuan to 31.6 trillion yuan by the end of May [7] Group 2: Product Innovations - Floating fee rate products are being introduced, linking management fees to performance, which has garnered positive market response, as evidenced by the rapid sell-out of such products [2][3] - Customized financial products are emerging, designed to minimize volatility while maintaining competitive returns, appealing to high-net-worth clients and institutional investors [6][7] Group 3: Competitive Strategies - Financial institutions are adjusting single-account holding limits to attract high-net-worth clients, with some products increasing limits from 5 million yuan to 100 million yuan [3][7] - The "currency enhancement strategy" is gaining popularity, allowing financial companies to achieve higher yields through timing differences in fund settlement, potentially increasing annualized returns by around 30 basis points [5][6] Group 4: Risks and Challenges - Some innovative strategies, such as "interest subsidies," may pose risks to other investors, as they can lead to conflicts of interest and potential liquidity risks in the market [8][9] - The introduction of floating fee rates requires enhanced investment research and risk management capabilities from financial companies, which may face challenges in adapting to this complexity [9]