Core Insights - The wealth management industry in China is undergoing a transformation, with a focus on buyer-side investment advisory services and the integration of AI technology to enhance service delivery [2][3][4]. Group 1: Industry Trends - The buyer-side investment advisory model is becoming the cornerstone of future wealth management, with a significant increase in its revenue share expected [4][6]. - Current revenue from buyer-side advisory services in China is less than 5%, compared to over 40% for Chinese institutions in Hong Kong, indicating substantial room for growth [7]. - The wealth management sector is closely linked to the growth of the middle class in China, necessitating a robust wealth management framework to cater to this demographic [4]. Group 2: Challenges and Opportunities - The depth of buyer-side advisory services is insufficient, and there is a lack of excellent client managers, which hampers the establishment of trust with clients [7][8]. - The transition from a pure agency relationship to a full discretionary relationship is crucial for the evolution of buyer-side advisory services [7]. - The integration of public fund advisory services is highlighted as a key area for transformation within the wealth management industry [7]. Group 3: Technological Integration - AI technology is seen as a vital tool for enhancing the configuration and transmission of investment strategies from institutions to frontline staff and ultimately to clients [9]. - Effective risk management is emphasized, focusing on asset diversification, multi-scenario configurations, and the construction of low-beta, low-correlation asset portfolios [9]. - The need for a comprehensive client account diagnostic platform is identified to address fragmented client accounts and improve investment analysis [9]. Group 4: Service Model and Team Development - A three-tier account system is proposed to provide tailored services to different client segments, from mass clients to ultra-high-net-worth individuals [8]. - Building a professional team capable of delivering client services is essential, as is establishing long-term trust based on professional competence [8][10]. - The essence of wealth management remains client-centric, with technology serving as a supportive tool rather than the core focus [10].

Core Viewpoint - The article discusses the current state and challenges of the compliance and risk control system in China's public fund industry, emphasizing the need for continuous improvement to meet the demands of high-quality development [1][2]. Group 1: Current State of Compliance and Risk Control - The compliance and risk control system in the public fund industry has made significant progress, characterized by a more complete regulatory framework and a strong emphasis on prioritizing investor interests [1][2]. - The industry has shifted from a focus on post-event punishment to proactive prevention and real-time control, establishing a mature regulatory system and industry ecosystem [2]. Group 2: Challenges Facing Compliance and Risk Control - The complexity of products, such as derivatives and structured products, poses challenges in risk identification, requiring higher professional capabilities from risk management personnel [2]. - The internationalization of business introduces cross-border risks, including global market risks and regulatory differences [2]. - Information security risks are heightened due to reliance on IT systems, which can lead to transaction interruptions or data breaches if compromised [2]. Group 3: Areas for Improvement - The compliance and risk control system needs to evolve towards "smart risk control" through the integration of big data and AI, enhancing risk management centered on investors [3]. - There is a need to build comprehensive and penetrating risk management capabilities and to strengthen emergency plans and stress testing [3]. Group 4: Insights from Longsheng Fund - The compliance and risk control team operates with a sense of urgency, recognizing that the construction of these systems is an ongoing process requiring strategic attention from the entire company [4][5]. - A strong risk culture and efficient action are essential for the successful evolution of the compliance and risk control system, which will enable the company and industry to achieve high-quality development [5].