Recently, a number of financial companies such as CMB Financial Management, Ping An Financial Management, Xinyin Financial Management, Su Yin Financial Management, Huaxia Financial Management, Everbright Financial management issued an announcement to reduce the rates of their financial products on sale, mainly involving fixed investment management fees, sales service fees, sales procedures and so on.

Since December, CMB Financial Management has successively issued announcements on the fixed investment management fees of more than ten products such as "CMB Financial Management win Day Gold 36 cash Management class", "CMB Financial Management Win Day Gold 18 cash management class", "CMB Financial Management Rui Wentai (Anxin) closed No. 2 fixed income class", "CMB Financial Management Rui Ji Tianli (balance) No. 4 fixed income class" Demote.

In terms of product types, fixed income financial products and cash management products are the main products. Among them, the rate reduction of fixed income financial products is mostly adjusted from 0.2% to 0.1% or from 0.15% to 0.05%. The preferential deadline varies greatly. The shortest preferential period lasts until January next year, but some products have a longer preferential period. For example, the deadline of the "Zhaobin Financial Promotion Rui Old Rich Run in April set open No. 10 enhanced fixed income financial plan" will be until February 2025.

The fixed investment management fee of many cash management financial products such as Zhaoying Ririjin, Zhaoying Tianxin, Zhaoying Ririying, Zhaoying Corvepot and other series has been reduced from the original 0.2% to "zero management fee". At the same time, CMB Financial Management has also discounted the sales service fee for some products of Zhaowin Daily gold series, which has been reduced from 0.2% to 0.02%. In addition to the fixed income category and cash management category, CMB Financial management also reduced the management fee of the hybrid product "CMB Financial Management Hybrid Strategy FOF (Privilege hedge) No. 1 Hybrid Financial Management" from 0.8% to 0.4%.

Subsequently, a number of financial companies such as Ping An Finance, Huaxia Finance, and Everbright Finance have joined the "fee reduction army" and reduced the fixed investment management fees and sales-related expenses of many of their products. Xingyin Financial management also lowered the flag under the "Tianli Daily Li" series of more than 30 products of the custody fee from 0.03% discount to 0.02%.

For the rate concessions, industry insiders told the interface news reporter that on the one hand, fee reduction is a marketing strategy of financial companies at the end of the year, and institutions will choose to reduce fees to yield profits to investors for large-scale consideration, thus promoting the sales of financial products. On the other hand, major financial institutions have chosen to reduce fees because of the high level of market competition has to "roll", "one began to reduce fees, other families must also make corresponding reactions and actions."

The recent "war" of fee reduction from public funds to bank finance, the industry said that from the overall rate, the rate of public funds as a whole is still much higher than the bank finance industry, the bank finance again large-scale fee reduction is also from the social role of bank finance, out of the need for (good) inclusive finance.

This isn't the first big rate cut this year. In the middle of this year, after CMB launched the "price war" of Zhaozhuo Value Select equity financial plan products that "do not make money and do not charge management fees", various financial companies have also responded by reducing the management fees, sales service fees, custody fees and other rates of their products.

From the point of view of the intensity of incentives, taking Zhaobin Financial Management and Xingyin Financial Management, which participate in more fee reduction products, as an example, the overall fee reduction of fixed income products involved in fee reduction is the same as that in the middle of the year, but the margin of cash management products is greater than that of the "management fee from 0.2% to 0.1%" in the middle of the year, and the rate is directly reduced to zero this time.

The type of fee reduction products of Xingyin Financial Management is roughly the same as that of the middle of the year, mainly cash management products, but the specific rate categories involved are much less than that of the middle of the year, more focused on custody fees, and the reduction of custody fees is also much smaller than that of the middle of the year.

Talking about the fee reduction, the above industry insiders said that in the short term, the rate price war of bank finance will continue, but in the long run, bank finance is unlikely to continue to reduce the rate due to the demand for profit, "phased reduction after phased recovery, bank finance more or to seek such a balance."

Zhou Yiqin, a financial regulatory policy expert, also pointed out that the "price war" is not a long-term solution, "0.2%-0.3% is a more normal level of all kinds of bank financing rates", Zhou Yiqin believes.

For the actual effect of the fee reduction, the two financial managers asked by the reporter said that it will play a certain role but the effect of promoting investors' willingness to buy is not obvious, "After last year (breaking the net tide), the enthusiasm of customers has been greatly affected, and the effect of this (fee reduction) also needs a process." "Said one wealth manager.