“从即日起至今年年底，凡在东方财富(300059,股吧)网旗下的基金门户网站天天基金网申购或赎回基金，手续费一定全国最低！”东方财富网董事长其实在微薄上一句凑热闹似的“京东体”，将“电商大战”的价格比拼蔓延到基金销售领域。

“From now on to the end of this year，All wealth in the east(300059,guba)Net's fund gateway website everyday fund net purchase or redemption of the funds，Charges must be the lowest！”Oriental wealth network chairman actually in a little like join in the fun“Jingdong body”，will“Electric business war”Price competition spread to fund sales field。

　　这一隔空喊话，是炒作的噱头也好，是品牌传播的手段也罢，关键在于“全国最低”的费率，是不是能让基金持有人享受到进一步的优惠？刚刚起步的第三方销售现状如何？为何要通过降低费率的手段打响品牌？宣传之余，销售机构又将如何面对资金、渠道的层层压力？

The mere exclamation, every words，Is it hype the stunt，Is the brand communication or means，The key lies in“The lowest”rates，If I can make fund holders enjoy further discount？Has just started the third party marketing present situation？Why by lowering rate means climaxing brand？Propaganda more than the，Sales organization and how to face funds、Channel layer upon layer pressure？

　　降价噱头实为炒作品牌 Price cut stunt actually media brand

　　“四折起”的申购费是不是全国最低？这一点是肯定的。由于监管层担心费率价格战，已经对基金销售的费率作出明文规定。按照规定，原申购费率高于0.6%的，申购费率享有4折起优惠，但优惠后费率不低于0.6%；原申购费率等于、低于0.6%或适用固定费率的，则按原费率执行，不再享有费率折扣优惠。从各第三方机构的执行情况来看，基本都是按照下限来执行。包括好买网、数米网等类似平台均遵循这一标准。换句话说，天天基金网再怎么喊话，4折的底线是无法突破的。而既然已经是底线，东方财富网董事长其实的那句“如发现高于其他销售机构，全额并加倍返还差价”便等同于空话。

“Forty percent up”The subscription fee is the lowest？That's for sure。Due to the supervision layer worry rate price war，Have to fund sales rate explicit stipulations。According to the regulation，The original explain the rate higher than 0.6%，Explain the rate have 4 fold preferential，But after the discount rate not less than 0.6%；The original purchase rate is equal to、Less than 0.6% or for the fixed rate，According to the original rate execution，No longer enjoy the discount rate。From the third party institution execution situation，Basic it is according to the lower limit to execute。Including good buying nets、Several meters net and similar platform are follow this standard。In other words，Every fund net how again propaganda，4 fold bottom line is never be broken。And now that is the bottom line，Oriental wealth network chairman actually of that“If found higher than other sales organizations，Full and double return spread”Will equal to empty talk。

　　当然这也有其实的无奈。和大部分银行相比，第三方基金销售机构费率优惠的幅度已经很大，如果一味以低价销售作为手段，其盈利空间将被进一步挤压，甚至连正常的运营都难以为继。按照资深市场人士的计算，目前，偏股型基金的申购费率基本为1.5%，申购费打4折后，理论上，第三方基金销售机构最多能从基金公司拿到0.6%的申购费率。但是，第三方基金销售机构还必须向第三方支付平台或监管银行支付最低0.3%的费用。这样一来，通过第三方销售平台交易完成1000元的基金，其赚到手的可能还不到3元钱。

Of course this also have actually helpless。Compared with most Banks，The third party fund sales institutions rate preferential amplitude is very huge，If blindly to low-cost sales as a means，The profit space will be further extrusion，Even normal operation are unsustainable。According to the calculation of senior people in the markets，At present，Partial shares fund subscription rate basic is 1.5%，Subscription fee play after 4 fold，In theory，The third party fund sales institutions the most from the fund company can get 0.6% of the subscription rate。but，The third party fund sales institutions must also to the third party payment platform or regulatory bank to pay 0.3% of the cost of the lowest。so，Through the third party marketing platform trading finished 1000 yuan of funds，Its make it may be less than 3 yuan。

　　微薄的盈利空间倒逼第三方销售机构突围，其实的跟风喊话便成为品牌宣传的案例之一。虽然这则并不“诚心”的喊话引来口水无数，但从其逾千条转发与200多条的评论看，在一定程度上给机构带来了传播效果和广告效应。

Low profit space DaoBi third-party sales agency break out of an encirclement，The comments follow suit actually becomes brand publicity of one of the cases。Although this is not“sincere”The propaganda draws countless saliva，But the article from more than one thousand forward and more than 200 comments to see，To some extent mechanism brought the communication effect and advertising effect。

　　运营之初销售规模超预期 At the beginning of the operation sales scale than expected

　　其实的做法，将市场的目光吸引到“第三方基金销售机构”这一新生事物上。可以说，自证监会正式下发牌照后，第三方基金销售机构始终处于“生不逢时”的境地。一方面，2012年以来，A股持续呈现低迷态势，对基金销售形成拖累；另一方面，在“渠道为王”的内地基金市场中，尚未站稳脚跟的第三方销售机构不得不面对来自银行渠道的高压。双面夹击之下，第三方销售机构的业绩如何？

The practice of actually，Will the eyes of market to attract“The third party fund sales institutions”This new things。Can say，Since the securities regulatory commission formally issued after the licence，The third party fund sales institutions always in“Born at the wrong time”situation。On the one hand，Since 2012，A shares continued downturn present situation，For fund sales form drag；On the other hand，in“Channels for the king”Mainland fund market，Has not yet to gain a foothold in the third party marketing agencies have to face comes from Banks channel of high pressure。Double flank under，The third party sales agency performance？

　　从多家机构反馈的信息来看，短短几个月间，第三方销售机构的销售数额已达数亿规模。

From multiple agencies feedback information to see，A few month，The third party sales agency sales amount already amounted to hundreds of millions of scale。

　　这些机构运营初期体现出的爆发力，使其与基金公司合作的热情逐步升温。数据显示，与第三方销售机构签约的基金公司数目正在不断被刷新。好买基金网(博客,微博)有关负责人透露，目前已签约的基金公司达到30多家，上线20余家，预计至8月底9月初，签约的基金公司有望达到40家左右，上线数则将达到30家左右。值得一提的是，一些品牌实力较强、规模较大的基金公司在第三方销售机构最近也开始转变作风。以数米基金网为例，目前规模前十大基金公司中，南方、富国、汇添富的产品已经全部上线，而其他几家公司也已开始了合作事宜。

These institutions operation initial reflects the explosive force，With the fund company enthusiasm gradually warming。Data display，And the third party sales agency signing fund company number are constantly refreshed。Good buy fund net(blog,Micro bo)Relevant person in charge said，At present already signed fund company to achieve more than 30，On-line more than 20，Is expected to the end of August and early September，Signing fund company is expected to reach 40 or so，Online number will reach 30 or so。Be worth what carry is，Some brand is very strong、Large fund company in the third party marketing agency recently also began to change style。With a few meters fund network as an example，At present the first ten big scale of fund company，south、Rich countries、Collect add rich products have been all online，And a few other companies also already started cooperation。

　　成本压力难掩乐观前景 Cost pressure difficult mask optimistic prospect

　　虽然不少基金公司对第三方销售在运营初期就取得如是销售规模感到意外，但一位第三方销售机构的内部人士却表示，这并没有达到团队此前的预期。事实上，面对年销售额数千亿的市场，基金第三方销售机构能够立足并非易事。

Although a lot of fund company to a third party sales in the early operation has so sales scale surprised，But a third party sales agencies but insiders said，This does not reach the team had expected。In fact，In the face of the annual sales hundreds of billions of dollars of market，Fund sales institutions to third party based on is not easy。

　　巨大的运营成本便是需要克服的关键问题之一。“一是申请牌照要求，根据规定，注册资本或者出资不低于2000万元人民币，且必须为实缴货币资本，同时有不少于10人获得基金从业资格；二是网络运行成本，按照一个团队七八十人计算，加上硬件、软件和场地等花费，一年投入不会低于千万元；三是人力成本，金融产品种类多、虚拟化、结构复杂，专业性要求极高，对专业技术人员的要求很高，目前大多数基金销售公司的团队动辄上百人，况且很多还是从其他基金公司挖过来的，待遇肯定不能差，否则根本留不住人。”一位资深业内人士表示。该人士进一步指出，如若基金第三方销售机构触动了银行的利益，银行可以凭借其强大的资产背景，降低佣金费率，如此一来，基金第三方销售的存在就成了问题。“况且基金第三方销售机构的账户最终也要委托银行。”

Huge operation cost is one of the key problems that need to be overcome。“One is to apply for license requirements，According to the regulation，Registered capital or investment not less than 20 million yuan RMB，And shall be the paid in money capital，At the same time there is no less than 10 people obtain fund qualifications；The second is the cost of network operation，According to a team good calculation，Plus hardware、Software and site cost，One year will be no lower than in ten million yuan；The third is the human cost，More kinds of financial products、virtualization、Complicated structure，High professional requirements，For the professional technical personnel's demanding，At present most of the fund sales company team frequently hundreds of people，And many or from other fund company cut back，Treatment is certainly not poor，Otherwise the fundamental cannot keep people。”A senior people in the industry say。This personage further points out，If a third party fund sales institutions had touched the interests of the bank，Banks can with its powerful assets background，Reduce commission rate，so，The existence of a third party fund sales became a problem。“Besides fund sales institutions account third party finally also want to entrust a bank。”

　　第三方销售需要面临的问题很多，这是业内的共识。那么第三方销售机构是如何看待短期内无法快速盈利的现状呢？“愿意参与基金销售第三方，特别是现在的从业者，大部分是具有长期经营眼光，现在这个时机开始进行投资者的教育。”诺亚正行总经理章嘉玉表示：“相信当市场逐渐回升，进入新的格局，回报自然就会出来。如果依照现在的目标，再稳步、扎实地往前走，可能在年底就会有比较好的数据，如此长期累积，业内对于盈利是很有信心的。”

The third party sales need to face many problems，This is the consensus of the industry。Then the third party marketing agency is how to treat the short term cannot quickly the present situation of the profit？“Would like to participate in fund sales third party，Especially now the practitioners，Most is a long-term management vision，Now the time to start on investor education。”Noah is line ZhangJiaYu general manager said：“Believe that when the market pick up gradually，Into a new pattern，The return of natural will come out。If according to the aim now，Steadily further、Solid forward，May be in the end of the year will have better data，So accumulated over a long period of，The industry for profit is very confident。”

　　小资料 Small material

　　2012年2月22日，证监会向四家机构发去《核准基金销售业务资格的批复》，这四家机构分别为众禄投顾、好买财富、诺亚正行和东财顾问。这是继2004年天相投顾获得独立基金销售机构之后，时隔8年，第二批独立基金销售机构获此资格。

On February 22, 2012，Securities regulatory commission sent to the four institutions《Approved fund sales business qualification approval》，These four agencies for the goal to Paul respectively、Good buy wealth、Noah is line and DongCai consultant。This is the 2004 days of good gained independence after the fund sales agency，After eight years，The second batch of independent fund sales institutions to receive the qualification。

　　数据显示，截至目前，数米基金旗下“数米基金超市”自7月13日试营业以来，已有近30家基金公司的400多只产品相继上线，一个月内基金销售额超过1亿元。在此基础上，“数米基金超市”将转为正式运行。主要面向高净值客户的诺亚正行已销售专户产品超过2亿份，货币市场基金超过3亿份。

Data display，So far，Several meters under the fund“Several meters funds supermarket”Since July 13, since the soft opening，Nearly 30 fund company with more than 400 products have online，A month fund sales more than 100 million yuan。On the basis of，“Several meters funds supermarket”Will be changed to formal operation。Mainly to high net worth customer Noah is bank has sales only door products more than 200 million copies，Money market funds more than 300 million copies。