Recently, the bank wealth management market has seen an increase in the allocation of cash management products and bank deposits. According to Puyi Standard data, at the end of the first quarter of this year, there were a total of 38043 wealth management products in existence in the entire market. From the perspective of investment nature, fixed income products are the majority, with 1244 cash management products, an increase of 317 compared to the previous period. What is the impact on the wealth management market behind the increasing trend of adding cash and bank deposit assets to wealth management products? How can banks optimize their wealth management products? In recent years, the impact of the "net breaking wave" and "redemption wave" on the wealth management market has continued. Many investors have adjusted their investment strategies and turned to low volatility and stable wealth management products. Lv Shuang, Senior Researcher in Banking at Industrial Research Company, stated that the net breaking wave of wealth management products that occurred in the second half of 2022 continued until the beginning of 2023, and the number of net breaking wealth management products per unit of net value increased and gradually declined. On the overall scale, the wave of breaking through net assets and the wave of redemption led to a contraction in the size of the wealth management market. In terms of product types, fixed income+and mixed income products have been greatly impacted, and investors have a clearer demand for stable returns from wealth management products. In this context, the deposit oriented nature of wealth management funds has increased. Liu Fengming, a researcher at Puyi Standards, believes that "deposit based" wealth management products usually have lower risk levels and more stable return characteristics, which are closely related to the current capital market environment. The volatility of the domestic stock and bond markets has intensified investor caution, and wealth management products have begun to allocate more cash and bank deposit assets to meet investors' demand for low risk and stable returns. Wang Yifeng, Chief Analyst of the Financial Industry at Everbright Securities, stated that due to the overall low risk appetite of residents, wealth management companies should focus on developing stable products with low volatility. As the ability of bank wealth management products to cope with market shocks gradually increases, the overall operation will also become more stable. From the second half of 2022 until now, the deposit interest rates in the banking industry have undergone approximately four rounds of overall interest rate cuts, with a focus on deposit interest rates with a maturity of one year or more. After several rounds of deposit interest rate cuts, the yield of two-year treasury bond has been higher than that of fixed term deposits in the same period, and the yield of longer term treasury bond is gradually approaching the yield of fixed deposits and large deposit certificates in the same period. Lv Shuang stated that personal deposit interest rates continue to decrease, highlighting the role of bank wealth management as a "reservoir" of deposits. Low risk preference funds continue to flow into the wealth management market, and cash management products, daily open end and short-term fixed income limited income wealth management products are the main products for short-term accepting outflow deposits. For the bank wealth management market, with the reduction of deposit interest rates, it will further strengthen the expectations of residents for future long-term interest rate declines, and investors will pay more attention to long-term wealth management and asset allocation. In this case, bank wealth management products can enhance their competitiveness by replacing deposits. "The impact of lowering deposit interest rates on the returns of wealth management products is indirect, diverse, and complex." Li Peijia, a senior researcher at the China Bank Research Institute, said that the returns of wealth management products ultimately depend on the allocation proportion and returns of underlying assets. one side