如下

NO.PZ202109080500000401 问题如下 Whiof the blog points about wealth management for invials aninstitutions is least accurate? The point about: A.asset selection. B.the regulatory framework. C.governanancision making. SolutionA is correct. Asset allocation anselection are mumore fficult when managing portfolios for invials comparewith institutions. Wealth management for invials must consir suconstraints time horizon, scale, taxes, anunique circumstances—for example, preferreor restrictesecurity holngs—all of whiminterfere with the optimization of the investor’s portfolio. Susituations are less likely to arise in institutionsetting.B is incorrect. The regulatory framework is usually quite fferent with respeto institutionaninviinvestors. In some countries, there are fferent boes aling with easector.C is incorrect. Governananthe cision-making process are mumore concentratefor inviinvestors; the investment polistatement is the major governanstructure, anthe wealth manager is usually given scretion in implementation anreporting matters. Institutiongovernanis mumore formal, aninvestment strategy anmonitoring are carrieout one or more layers of committees. 请讲解一下本题。一个是不理解什么叫concentrategovernance，看答案的解析意思 concentrateformal是相对的吗？另一个是asset selection为什么不能通用？我理解做好大的asset alllocation之后，在asset selection的层面对skill是通用的呀？这个的考点在讲义的具体什么地方呢？谢谢。