P2P firms could harm wealth industry, says Noah head

Dec 14, 2015

The Chinese wealth management firm's president says peer-to-peer lending platforms may not have the financial expertise to select suitable investment products for clients.

P2P firms could harm wealth industry, says Noah head

The president of Shanghai-based wealth manager Noah Holdings has warned that Chinese peer-to-peer lenders expanding into asset and wealth management could end up having a negative impact on the industry.

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