信托受益权登记背景下的信托产品销售决策变化及影响——基于不同渠道偏好和成本的视角

信托受益权的登记细则出台及国内信托受益权账户系统的上线,对信托产品的销售渠道产生影响。通过模型构建,研究新制度背景下服务水平变化对信托公司销售成本的影响,并推导出直销和代销两种渠道的市场份额会发生变化,信托公司直销的市场份额将增加,由第三方财富公司代销的市场份额将逐步减小。销售渠道的改变会降低信托融资的总成本,从而会对信托业以及整个金融监管模式产生积极影响。

The Change and Influence of Trust Product Sales Decision Under the Background of Trust Beneficial Right Registra tion:From the Perspective of Different Channel Preferences and Costs

The introduction of the detailed rules for the registration of trust beneficial rights and the launch of the domestic trust beneficial rights account system have an impact on the sales channels of trust products.Through the model construction,this paper studies the influence of service level change on trust company’s sales cost under the background of new system,and deduces that the market share of direct marketing and agency marketing will change,the market share of direct marketing of trust company will increase,and the market share of agency marketing of third-party wealth company will gradually decrease.The change of sales channels will reduce the total cost of trust financing,which will have a positive impact on the trust industry and the whole financial supervision mode.