编者按： 在保险资管行业从"产品导向"向"客户导向"深度转型的当下，百年保险资管董事长杨峻提出的"投顾服务四部曲"，不仅勾勒出以客户人生规划为起点的服 务蓝图，更揭示了保险资管行业在"资产端-负债端"协同中的独特价值。作为百年人寿旗下的保险资管公司，百年保险资管公司与母公司百年人寿的协同 关系，恰恰是"四部曲"理念在行业实践中的生动映射：百年人寿作为负债端，聚焦于保险产品的设计与客户需求的洞察，构建起对用户人生目标的深度理 解；而百年资管作为投资端，则基于这些目标，通过专业的资产配置与产品选择，实现长期稳健的财富增值。在百年人寿高质量发展的战略引领下，百年 保险资管公司坚守服务实体经济和社会民生的初心，完善资产负债平衡管理体系，秉持长期投资、价值投资理念，深化资产端与负债端的联动匹配。未 来，公司将持续提升资产管理规模与市场影响力，致力于建设具有核心竞争力的一流保险资管机构。 其次是做财务规划，把具体的人生目标翻译成清晰的财务数字，计算出实现这些目标需要多少资金，每年需要多少现金流。 第三再做资产配置，基于财务目标设计一个配置的结构，核心是稳健与可靠，目标是平稳达成计算出的回报率，而非冲击市场最高点。 第四才 ...

Core Viewpoint - The wealth management industry is currently facing challenges related to clients' sense of fulfillment, which can be addressed through a structured advisory service that aligns with clients' life goals [2][3]. Group 1: Wealth Management Challenges - The main pain points in the wealth management industry include insufficient client satisfaction, unclear relationships between wealth and life goals, and difficulties in overcoming human weaknesses such as greed and fear [2]. - The lack of professional knowledge and investment discipline among clients further exacerbates these issues [2]. Group 2: Advisory Service Framework - The advisory service can be divided into four essential components: life planning, financial planning, asset allocation, and product selection, all of which are interdependent [2][3]. - The first step, life planning, involves helping clients define their life goals and clarify their true aspirations [3]. - Financial planning translates these life goals into specific financial figures, determining the necessary funds and cash flow required to achieve them [3]. - Asset allocation is then designed based on financial goals, focusing on stability and reliability to achieve calculated returns rather than chasing market peaks [3]. - Finally, product selection is based on the asset allocation strategy, ensuring that clients feel more secure and clear about their investments [3]. Group 3: Role of AI in Wealth Management - While AI can effectively handle the latter parts of the advisory process, the first step of life planning requires human involvement to build deep trust with clients [3]. - The value of discussing life planning emerges from the dialogue and interaction between the advisor and the client, highlighting the importance of human connection in the advisory process [3].