What are the pitfalls of common bank wealth management products?

There are usually two kinds of bank wealth management products: self-owned wealth management products and consignment wealth management products. Self-owned wealth management products are relatively safe because of the bank's own credit endorsement and mature team operation; Consignment of products means that other institutions cooperate with banks to sell products through the channels of banks. The bank is not responsible for the management of the consignment products, and the products are guaranteed by the issuer's own credit.

But in real life, there are many pits in bank wealth management products, so what pits should we pay attention to when buying bank wealth management products? First of all, many people go to banks and buy high-yield wealth management products, which is wrong. Before buying wealth management products, we must first distinguish whether the products are owned by banks or sold on commission. If it is a consignment product, you must also find out the specific issuer to see if it is credible. Some elderly customers originally bought wealth management products, but ended up buying insurance products sold by banks.

Furthermore, even the wealth management products issued by the bank itself cannot promise to protect the capital and interest. The expected rate of return is the bank's evaluation of the final rate of return of wealth management products (generally referring to the previous rate of return of such wealth management products), but it does not represent the actual rate of return when the products expire. Many bank staff like to report the expected rate of return very high when selling wealth management products, without giving corresponding risk warnings.

For example, structured wealth management products sold by banks are often linked to high-risk targets such as gold, exchange rate and international oil price. Although the expected rate of return is high, the actual yield to maturity still depends on the actual settlement. However, structured wealth management products often fail to achieve the expected rate of return due to large fluctuations in income.

Moreover, the most taboo for banks to buy wealth management products is to encounter flying orders or false wealth management. Flying bills refer to bank staff who use investors' trust in banks to sell wealth management products that do not belong to banks (nor formal financial products that banks sell on a commission basis) and get high commissions from them. Under normal circumstances, bank staff often sell trust products for real estate developers.

False financial management means that bank staff privately engrave the official seal of the bank, conclude financial management agreements privately, use the identity of bank staff to absorb customers' funds at a high interest rate, and issue non-existent financial products. This is often the case that bank staff obtain a large amount of customer funds through financing in the name of selling wealth management products, and then lend them to others for investment and charge higher interest. If the investment is successful, the other party will repay the principal and interest safely. If the borrower still doesn't pay back, investors' money for bank wealth management products is likely to be wasted.

In order to avoid buying wealth management products from non-local banks, it is suggested that everyone: ① try to buy wealth management products from online banking or mobile banking to ensure the safety of wealth management products; 2 If you buy wealth management products offline, you must read the product manual carefully and understand the situation before buying; ③ Go to China Wealth Management Network to check whether the product is a formal wealth management product issued by the bank (all wealth management products issued by the bank must be registered here).