Core Viewpoint - The competition in the wealth management distribution market is intensifying as various financial institutions, including rural commercial banks, are expanding their partnerships with wealth management companies to capture the growing demand in lower-tier markets [1][3][4]. Group 1: Market Dynamics - Wealth management companies are increasingly targeting lower-tier cities as larger banks' sales channels become saturated [3][4]. - As of June, the total scale of wealth management products from wealth management companies reached 27.48 trillion yuan, accounting for nearly 90% of the market, while bank institutions held only 3.19 trillion yuan [1][6]. - The shift from self-operated to distribution models among small and medium-sized banks is becoming evident, driven by regulatory pressures to clear existing wealth management business by the end of 2026 [1][6][7]. Group 2: Strategic Partnerships - Wealth management companies are forming partnerships with local banks to enhance their distribution capabilities, moving towards a "distribution + empowerment" model [1][8]. - Recent agreements include partnerships between Agricultural Bank of China Wealth Management and Dongguan Rural Commercial Bank, as well as North Bank Wealth Management with Qujiang Rural Commercial Bank [3][4]. - In Shaanxi, multiple local financial institutions are collaborating with Bo Yin Wealth Management to expand their distribution efforts [4]. Group 3: Competitive Landscape - The wealth management industry is experiencing intensified competition, prompting companies to seek market share in less saturated areas [5][7]. - The regulatory environment is pushing small and medium-sized banks to transition from self-managed wealth management to distribution partnerships, creating opportunities for wealth management companies [5][6]. - The demand for diversified wealth management products is increasing among consumers in lower-tier markets, driven by rising income levels and urbanization [4][5]. Group 4: Future Outlook - The future collaboration between wealth management companies and local banks is expected to focus on product co-creation and digital tools to enhance sales and customer service capabilities [8][10]. - Wealth management companies need to provide comprehensive support to local banks, including training and marketing assistance, to ensure successful partnerships [10][11]. - The upcoming implementation of the "Commercial Bank Agency Sales Business Management Measures" will raise the bar for collaboration, increasing compliance costs and operational challenges for small banks [11].

一场理财代销的下沉竞速赛已然打响，8月18日，北京商报记者梳理发现，今年以来，农银理财、北银 理财、渤银理财等多家机构动作频频，与东莞农商行、衢江农商行、陕西多地农信机构签订协议，通过 扩充合作版图抢占市场。这一布局背后，既是源于下沉市场庞大的人口基数与快速增长的财富管理需 求，也与监管层要求未设理财公司的中小银行在2026年末清理完毕存量理财业务的政策导向密切相关。 数据显示，截至6月末，理财公司存续产品规模达27.48万亿元，占全市场比例近90%，而银行机构存续 规模仅3.19万亿元，中小银行从"自营"向"代销"转型趋势明显。在此背景下，理财公司与地方银行的合 作正从单纯代销向"代销+赋能"模式升级，但面临的技术、合规等挑战仍需破解。 理财公司下沉掘金 当大中型银行的销售渠道布局逐渐饱和，理财公司的目光开始转向更广阔的下沉市场。8月18日，北京 商报记者梳理发现，开年至今，众多理财公司纷纷通过扩充代销合作版图，将触角延伸至三线及以下城 市。 近日，农银理财与东莞农商行签订《理财产品代理销售服务合同》，委托东莞农商行代理销售该公司管 理发行的理财产品。8月初，北银理财也和衢江农商行签署代理销售合作协议，成为 ...