Core Viewpoint - Recent reports indicate that some elderly individuals have fallen victim to fraudulent "guaranteed return" investment products promoted by online "investment masters," leading to significant financial losses. The concept of "guaranteed return" in bank wealth management products is a product of specific historical stages in China's financial market, driven by investor demand for "risk-free returns," competitive pressure among banks, and previously lax regulations [1][2]. Group 1: Regulatory Changes - The introduction of the "Guiding Opinions on Regulating Financial Institutions' Asset Management Business" (referred to as "Asset Management New Regulations") in 2018 marked a significant shift in the market, requiring the dismantling of rigid guarantees and the implementation of net value management [1]. - The "Asset Management New Regulations" explicitly state that financial institutions are prohibited from promising capital protection and returns in their asset management activities [1]. - The "Measures for the Administration of Wealth Management Subsidiaries of Commercial Banks" also emphasizes that wealth management products cannot guarantee returns or engage in misleading promotions such as "risk-free profits" [1]. Group 2: Investor Awareness and Risk - Investors must recognize that there are significant differences in risk and return between wealth management products and traditional deposits, with the latter typically offering capital protection and guaranteed returns [2]. - It is crucial for investors to consider their investment experience, risk tolerance, and return expectations when selecting wealth management products to better balance asset safety and value appreciation [2]. - Consumers are advised to be cautious of "high return, no risk" promotional claims and to avoid being misled by short-term high returns. Continuous attention to educational content from financial regulatory bodies and banks is recommended to enhance risk identification and fraud prevention capabilities [2].