Insurance middlemen could show the way in China
Two independent insurance intermediaries in Guangzhou could point the way to the establishment of China distribution models based on advice and choice.
A constant challenge for the development of China's mutual-funds industry is the bottleneck of distribution, with a handful of banks such as ICBC and China Construction Bank owning the lion's share of fund sales.
Bottlenecks are a symptom of regulation. The overseers for securities, banking and insurance are fragmented and jealous of their authority.
Industry executives would welcome the development of a nationwide platform independent of the top banks and brokers that could become im…
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