Financial Asset Management for Mid-High Net Worth Families

Financial asset allocation, an important part of family wealth management, plays an important role in preserving and appreciating family wealth. Under such circumstances, studying household financial asset allocations is of great theoretical value and practical significance. Based on CFPS data for 2020, the main findings of this study are as follows: the coverage rate of financial products among mid-high net worth households is significantly higher than that of non mid-high net worth households; the total price of financial products held by mid-high net worth households is significantly higher than that held by non mid-high net worth households; financial market participation and the share of risky financial assets are significantly higher for mid-high net worth households than for non mid-high net worth households.