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(Original title: Trust third-party agency sales are completely stopped!)

The Economic Information Daily reporter learned that recently someTrustThe company received a verbal notice from the regulatory authorities and was asked to stop the third-party agency sales business. Tianjin Trust, Tibet Trust, National Trust and many other trust companies have successively issued statements denying that they have carried out third-party product agency sales activities. In the context of the comprehensive suspension of trust third-party agency sales, some trust companies are stepping up their "recruitment" to build a direct sales channel system.

Many companies have made intensive clarifications

Recently, Tianjin Trust issued a solemn statement regarding illegal sales by third-party institutions and individuals, saying: "Our company has not authorized or commissioned any WeChat public account or third-party non-financial institution to promote or sell trust products issued by our company. Investors are requested to be careful in identifying. If you have any questions, you can check and consult the relevant information of trust products through our official website or call our local wealth centers. Our company reserves the right to take legal action and pursue legal liability against any institution or individual that publishes information related to trust products issued by our company without authorization."

Earlier, Tibet Trust issued a statement saying that it had recently discovered that some criminals had publicly promoted the company's trust product information through certain websites and platforms, and induced investors to add private contact information. In order to protect the legitimate rights and interests of consumers and the company, Tibet Trust stated that the company has never authorized any third-party organization or individual to publicly release the company's trust product information on the Internet, and has never allowed any non-financial institution or individual agent to promote and sell the company's trust products; it is not responsible for the authenticity of any trust product promotional materials produced or released without the company's authorization.

National Trust also issued a statement saying that it has not commissioned or authorized non-financial institutions to promote or sell trust products issued by the company, nor has it commissioned any third-party institutions or individuals to publicly release company product information through online channels such as the Internet. The only online release channel for all trust product information that the company is currently issuing or has established is the company's official website.

"The reason why some trust companies are trying their best to distance themselves from third-party sales agencies is mainly related to the recent window guidance issued by regulatory authorities to some trust companies, requiring them to completely suspend third-party sales business."Company ManagementPeople explained to reporters that previously third-party distribution channels played an important role in the sales of products of some trust companies, especially small and medium-sized trust companies. Later, the third-party distribution business was stopped by regulators, but in real life there are still many trust companies that "play edge ball" and cooperate with third-party institutions privately.

Specifically, the sales channels of trust products in my country can be roughly divided into three categories: the first category is direct sales by trust companies, the second category is agency sales by banks and other financial institutions, and the third category is third-party agency sales channels. Due to the many risks and regulatory blind spots of third-party agency sales, the regulatory authorities have repeatedly prohibited trust companies from entrusting third parties to sell trust products. However, in actual business development, some small and medium-sized trust companies still rely on third-party platforms for sales due to the limited capabilities of their own wealth teams.

"Compared with the direct sales model, third-party sales give investors more 'implicit feedback' and have looser standards in controlling qualified investors, thus gaining a certain amount of market space." The above-mentioned management of a Beijing trust company believes that in recent years, there have been frequent incidents of "fakes" in the trust industry. Whether it is issuing a solemn statement on illegal sales by unauthorized third-party institutions, or reminding investors to guard against false trust fraud, it reflects the current situation of "mixed fish and dragons" in the trust product sales market.

Trust third-party agency sales are completely stopped

The reporter noted that as early as May this year, Daye Trust issued a statement saying that it had "never authorized any third-party organization or individual to publicly release information about our company's trust products on the Internet" and "never allowed any non-financial institution or individual to promote and sell our company's trust products." Then on June 26, Daye Trust issued a solemn statement on its official website regarding the illegal sales by third-party institutions, saying: "Our company has never authorized or commissioned any third-party organization or individual to promote or release information about our company's trust products on the Internet. Any organization or individual that publishes information related to our company's issuance of trust products without authorization, our company reserves the right to take legal action and pursue their legal responsibilities."

The Economic Information Daily reporter contacted the relevant person in charge of Daye Trust. The person in charge said: "Our company has fully recovered the sales quota of third-party platforms, and all the quotas are used for direct sales, mainly involving government-backed trusts and some TOF trusts. It is not clear whether third-party platform sales will be reopened."

The reporter also got further confirmation from a third-party agency in Hangzhou that once sold Daye Trust products. "Daye Trust products are now sold directly, and there are no rebates." The sales manager of the third-party agency in Hangzhou told the reporter not long ago. At the end of June, the sales manager also promoted Daye Trust's Jiangsu Huai'an and Taizhou Hailing government-sponsored products to the reporter, and assured the reporter that the product had a stable return, "and there is a 1/1000 cash rebate if you buy it now."

Yu Zhi, a researcher at Yongyi Financial Trust Research Institute, said that the reason why the regulator stopped third-party agencies from selling trust products is mainly because in recent years many third-party agencies not only have sales business, but also issue their own products, which are not so good in marketing and risk control. The reason for stopping is to isolate risks. In fact, the regulator has always regulated third-party sales, but many trust companies did not have the direct sales capabilities before. Cooperating with third-party wealth management companies to sell non-standard products has become an important means for some trust companies to expand their business and acquire customers.

The reporter learned that in 2009, the former China Banking Regulatory Commission issued the "Trust Company Collective Fund Trust Plan Management Measures" (hereinafter referred to as the "Management Measures"), which clearly stipulated that trust companies shall not entrust non-financial institutions to promote trust plans; in 2014, the former China Banking Regulatory Commission issued the "Guiding Opinions on Risk Supervision of Trust Companies", requiring trust companies to strictly implement the "Management Measures" to prevent third-party non-financial institutions from transferring sales risks to trust companies.

The China Trust Association also pointed out earlier that in terms of regulating trust promotion and sales, regulators have long clearly prohibited third parties from illegally promoting and selling trust products. Trust consumers need to enhance their awareness of risk prevention when purchasing trust products and ensure that they subscribe to products through some formal financial institutions.

"For the sake of profit, third-party sales agencies may mislead investors or be unprofessional in their sales; or they may provide false product information or even forge products to deceive customers. If a third-party company illegally raises funds in the name of a trust company, it will cause immeasurable losses to investors and trust companies." Shuai Guorang, a researcher at Yongyi Trust, said that this window guidance is mainly to continue the overall idea of ​​strict supervision and risk control, cut off the transmission of third-party risks to trust companies, and is conducive to maintaining the stability of the financial market and the steady development of the trust industry.

"Regulatory authorities have always prohibited third-party agency sales. Some trust companies lack sales channels and have to cooperate with third-party institutions. This means that regulators have strengthened policy requirements," said Yuan Jiwei, a senior asset management researcher.

Trust companies accelerate the construction of their own sales channels

In the context of the suspension of third-party agency sales, some trust companies have accelerated their recruitment and actively recruited wealth management teams to build a direct sales channel system. Recently, Daye Trust released a recruitment notice to recruit the head of the wealth team, the head of the family trust team,Financial ManagementConsultants, financial managers. Recruitment locations include Beijing, Shanghai, Guangzhou, Hangzhou, Wuhan, Fuzhou and other economically developed regions in China.

In addition to Daye Trust, the reporter found that there are 35 other trust companies that have posted recruitment for financial managers and other related positions on Liepin.com. Among them, Shaanxi Guotou Trust and Western Trust have more than 20 related recruitment positions, and Everbright Trust and Guotong Trust have more than 10 related recruitment positions.

"The most important thing for wealth is customer resources. Banks can become the main channel for trust sales because they have accumulated sufficient customer resources." Yu Zhi said that trust companies recruit wealth teams mainly to follow their own strategic planning and respond to regulatory requirements. Overall, trust companies building their own sales channels is one of the better ways to improve professional and sales capabilities, but the cost of capital and time will increase, and the professional ability requirements for practitioners are also higher.

According to industry experts, some trust companies have recently received window guidance from regulatory authorities on local government credit business and suspension of third-party agency sales. The main reason is that regulatory authorities hope that trust companies will firmly transform and not follow the old path. "In the short term, it may have an impact on the sales performance of individual central trust companies. However, there are only a few trust companies that have sales cooperation with third-party institutions. The above window guidance has little impact on the industry as a whole." The above-mentioned Beijing trust company management personnel told reporters.