Private Financial Institutions With Mixed Good And Bad Financial Platforms Are Gradually Exposed

At present, the good and bad of private financial institutions are mixed, and the problem financial management platform is gradually exposed. In this process, some platforms with irregular operations such as self financing and self financing in disguised form and misappropriation of funds have actually been able to maintain the capital chain only by borrowing new funds to repay old ones, and the snowball of debt keeps growing.

"Since the beginning of this year, we have been constantly 'pulling heads', building new teams, and giving various rewards to salesmen, in order to increase financing." Wang Wei (a pseudonym) said that this is the way for his platform to "sustain". Wang Wei is the head of a financial management platform business team in an eastern city whose total investment has exceeded 30 billion yuan.

The investor Chen Mou expressed his concern according to the reporter. Previously, if he needed to withdraw his investment in a platform, he could withdraw it in two or three days as long as he was willing to sacrifice part of the interest; However, when he recently had the same demand, he was told of a "new rule": withdrawal is allowed, but only 200000 yuan can be withdrawn per working day. Chen's investment in this platform is close to 6 million yuan. Even if he "insists" on withdrawing money every day, it will take more than a month to complete the withdrawal.

As the problem platforms were exposed one after another, the new withdrawal rules of the financial management platform increased Chen's anxiety. "I'm worried about whether this company will also have an accident in a month," he said.

New approaches such as the above platforms are not uncommon although they are different. At a time when the capital chain may have been strained secretly, the financial management platform will have some similar operation means. According to the reporter, we interviewed the employees and investors of several platforms on this topic.

Wang Wei said that he clearly felt that his financial institution had resorted to all kinds of tricks to stabilize the sales of products this year. Wang Wei summarized three aspects: the first aspect is the expansion of the financial advisory team. According to the reporter, Wang Wei, the head of the team, just hopes to ask the reporter to help him go to the industry to find out if there is anyone who wants to change jobs on other platforms. His team needs to be expanded urgently.

"This year, a new 'full staffing award' was set up, that is, the team needs to recruit a few people when it is fully staffed, and there will be rewards when it is fully staffed." Wang Wei is working hard for this bonus. Financial managers with customer contacts in the industry, agents outside the insurance company, etc., have become the people Wang Wei wants to focus on "hunting". The purpose of enrollment expansion is to stimulate the amount of financing.

The second aspect is that the company has raised the performance commission for salesmen after the year, and has set up a new reward policy of different grades. For example, the customer manager was rewarded only when he reached 1 million yuan per month, but now he is also rewarded at the level of 500000 yuan, and a similar "new talent standard award" of 200000 yuan has been set up for new employees.

The third aspect is to increase the incentive program for customers. For example, years ago impulse Reward the two accounts with the highest investment amount of the whole platform with a brand of famous cars (use right)

As for this new reward scheme for customers, Huang Mou, an investor of a financial management platform that has recently exposed the problem of capital chain, reported to our reporter that the platform had organized a feedback activity for cruise charter trips, and informed the old customers that because 500 more seats were available, "old customers with more than 300000 yuan of stock capital can participate as long as they are willing to continue to invest 100000 yuan".

A macro analyst of financial institutions said in an interview with a reporter that in the low-speed economic development cycle, "asset shortage" is a common dilemma faced by financial institutions. Even the banking industry is racking its brains to find good loan enterprises and stabilize the quality of credit assets, and the scale expansion has slowed down collectively.

However, some of the wealth management platforms and online loan platforms that can expand against the trend have indeed found good business models or partners, for example, they have opened up the front and rear ends of the supply chain of an industry, thus forming a supply chain financial model, Financial management platform managers with risk control experience are good at controlling the speed of scale expansion within a reasonable range, so that risks will not be too concentrated; Second, the more compliant the platform is, the more transparent the information disclosure about the details of its business model and the target of investors' capital investment will be; Third, the financial management platform will not be inextricably linked with the actual borrowing enterprises (some borrowing enterprises are even directly the controlling shareholders or subsidiaries of the financial management platform)

As a result, some Financial management platform What specific projects are there on the asset side are ambiguous, and it is impossible to hide who the lending enterprise is and its financial situation. However, the transaction volume on the capital side can reach tens of billions of yuan, or on the basis of a large base in the previous year, the amount of financing can be doubled or even doubled in the past two years, which itself runs counter to "common sense".

"If the platform can achieve one-to-one correspondence between investment funds and external targets capital If we invest in norms, we will not pull the scale in panic. Most of the panic is because the platform's own funds have been in deficit. " Said the analyst.

"E-Rent Treasure" is a lesson from the past. According to the survey data, at the end of June 2015, the turnover of e-Leaseball totaled 8 billion yuan, and by December 8, 2015, this figure had reached 74.568 billion yuan. What is the specific asset target of such a huge volume? Until the platform was checked, the investors themselves could not tell.

"It is normal to replace the chairman and legal representative of the company, but it is strange if there are frequent replacement within a few months, or a large number of replacement from the chairman, legal person to senior management." said the macro analyst of the above financial institutions.

According to the P2B financial platform associated with a well-known supply chain enterprise tracked and investigated by the reporter, the legal representative was changed in August 2014, the investor (equity) was changed in the same month, the supervisor was changed in September, and the legal representative was changed again in October. And according to a former senior executive of the company, behind the two legal representatives of the company, the legal representative who was finally replaced was still a young new employee recruited by the society.

At the end of 2014, the capital chain of this supply chain enterprise was broken.

A financial management platform that has recently exposed problems in the capital chain has also recently released a notice of new appointment in its official WeChat channel. According to the notice, the chairman and president of the platform are all replaced and the appointment is "effective from now on". With regard to the latest personnel appointment, the notice did not mention any resolution of the Board of Directors, which inevitably reminded the outside world of the "hasty replacement" and the underlying corporate governance articles and compliance issues.

It is not difficult to find out from legal consulting websites or search engines that the change of legal representative before the bankruptcy of the company or the increase of capital inflow at one end should also be stopped at the other end.

The problem Chen, the above investor, has encountered is that under the "new rules", the maximum amount of investment funds that could be withdrawn at the expense of part of the interest can only be 200000 yuan per working day. Even if Chen withdraws 6 million yuan of investment on this platform every day, it will take more than a month to complete the withdrawal.

Mr. Huang, the above-mentioned investor of financial management platform who recently exposed the problem of capital chain, also encountered a similar problem of "withdrawal policy change". But perhaps it is the lack of management of the platform financial manager that Huang invested in. Huang said that when he and his colleagues asked for early redemption of products purchased from different financial managers on the same platform, his colleagues succeeded, but her financial manager "refused".

According to the WeChat screenshot of her conversation with the financial manager sent by the reporter. The financial manager said that "one-year products cannot be redeemed in advance". But Huang said that when she bought the product, the financial manager once said that she could redeem it in advance.

There are many problems such as shareholder accountability and property transfer.