针对银行理财产品打榜营销做法的利弊，朱瑞所在的理财子公 司内部有过激烈争论——风控部门直言这类打榜产品收益率虚 高，很快会被打回原形，由此造成客户投诉与产品赎回压力。 作者：陈植 封图：图虫创意 "业绩变脸幅度实在太大了。"投资者王萌心存疑惑地说。 王萌在去年10月看到一家城商行理财子公司新发的固收类理财产品的近1个月年化收益率达到 14.17%，就立即拿出20万元认购这只理财产品。但令她没想到的是，仅仅2个月后，这款产品的 年化收益率跳水至1.54%。 她并不知道，自己的经历，正是当下银行理财行业一场隐秘营销套路的缩影。 在低利率时代存款搬家、居民理财需求高涨的当下，这种"打榜营销"的操作悄然盛行——理财子 公司先小规模地发行产品份额（通常在百万级别），再将高收益资产装入这款新发产品，使产品的 短期收益率（比如7天、14天、1个月年化收益率）突破10%，远超过行业平均水平。银行代销渠 道以高收益作为卖点进行销售，投资者跟风买入，理财产品的规模大幅提升。 一家银行理财子公司产品部主管朱瑞向记者透露，为了实现更好的销售效果，银行代销渠道通常会 在手机银行界面的醒目位置凸显这类理财产品7天、14天、1个月年化收益 ...

Core Viewpoint - The phenomenon of "ranking" in bank wealth management has drawn significant attention, with regulatory bodies closely monitoring the situation and institutions taking corrective actions [1][2][18]. Group 1: Ranking Behavior - "Ranking" in wealth management refers to the practice where some wealth management subsidiaries launch "shell products" to inflate yield rates, attracting funds to newly issued products with small scales, often only a few million yuan [2][17]. - This practice leads to a rapid increase in product scale, causing initial high yields (5%-15%) to decline as the products become more common, resulting in complaints from investors and disrupting industry order [2][5][18]. - As of early 2026, the occurrence of ranking wealth management products remains prevalent, with industry insiders acknowledging that such practices are unsustainable in the long run [2][18]. Group 2: High Yield Products - Data from South Finance Wealth Management shows that as of January 26, 2026, there were 4,552 fixed-income products with annualized yields exceeding 4% in the last three months, including 104 products with yields over 10% [3]. - Some short-term products with holding periods of 7 to 14 days are showcasing yields around 4%, attracting investor interest despite the underlying market conditions [3][10]. - Examples of high-yield products include "Happiness 99 Add Benefits (Enjoy Selection) 14-Day Holding Period 6th Phase A" which saw a yield of 14.57% in September 2025 but dropped to 1.54% by the fourth quarter of 2025 [5][6]. Group 3: Market Dynamics and Investor Experience - Investors are increasingly frustrated when high-yield products revert to lower yields after a few months, leading to negative experiences often referred to as "wealth management assassins" [5][6]. - The "Minsheng Wealth Management Guizhu Fixed Income Increased Weekly Profit 7-Day Holding Period 40th Product" experienced a yield spike to 23.89% shortly after its launch, but yields quickly fell to 1.04% and 1.62% in subsequent months [8][10]. - The rapid growth in product scale, from 4.25 million yuan to 596 million yuan, highlights the volatility and risks associated with these high-yield products [8][10]. Group 4: Regulatory and Industry Response - Regulatory bodies have previously restricted practices like smoothing trust valuations and have mandated wealth management companies to complete rectifications by the end of the previous year [18][19]. - Industry insiders emphasize the need for standardized practices to prevent "bad money driving out good" and to address the competitive pressures that lead to ranking behaviors [18][19]. - The number of investors holding wealth management products has increased to 143 million, a 14.37% rise since the beginning of the year, with total returns reaching 730.3 billion yuan [18][19].