The fund sales company is the fund manager that deals with the subscription, subscription and redemption of fund shares in accordance with the law and obtains the qualification of fund selling on a commission basis.China is mainly public fund sales institutions: including commercial Banks, securities companies, futures companies, insurance companies, insurance agencies and insurance brokerage companies, securities investment consulting institutions, independent fund sales institutions.

Licence value:

1. Functions of the license: the fund sales license can act as an agent to sell public fund products, private fund products, trust products and related financial products.

2, policy regulation: in December, 2015, in the base of post regulation, private equity fund managers can only sell their own fund products, to sell third-party product must be in the private equity securities qualified fund sales business and become the base association, member of the institution, any other organization or individual may engage in private equity fund raising event.

3. License price: at the beginning of 2016, the transfer price of the fund sales license was around 5 million yuan. With the tightening of the policy, the license price also went up accordingly.

License is scarce: up to now, there are 117 independent fund sales institutions, and there are about thousands of potential licensees, which is the bottleneck of independent fund sales institutions in the future, and also an opportunity for intermediaries to expand new business in the future.

Application requirements:

1. The registered capital shall not be less than 20 million yuan and shall be paid-in

2. There shall be no less than 10 employees with funds, and no less than two months 'social insurance contributions

3. The main categories of application companies are: investment consulting, wealth management, asset management, investment management, etc

4. Senior executives are qualified to work in the fund industry, and have worked in the fund industry for more than 2 years or relevant financial institutions for more than 5 years

5. No gross negligence, no violation of laws and regulations, no administrative punishment, no bad records

6. Clear ownership structure without VIE

7. Have office space in line with business development