Challenges abound in China’s newly established advisory scheme
Shifting away from the model where third-party channels get more fees if they are able to sell more funds
Shifting away from the model where third-party channels get more fees if they are able to sell more funds
Joint venture will offer an investment advisory service to the country’s retail market
‘We will continue to evaluate other business and growth opportunities as they arise’
It will allow foreign investors to own up to 51% before scrapping the limit during 2020
The shares will be sold by Goldman Sachs
Market continues to shift from product sales to service orientation
Shanghai-headquartered joint venture has plans to expand into Beijing, Chongqing and Zhejiang
Investment limitations for securities companies will also be lifted in December next year
As trade war sees highest number of applicants since 2014
To support a potential market of around eight million financial advisers
But some people are skeptical of how the regulator is going to pull it off
To target ultra wealthy Chinese investors from Hong Kong