The wealth management market has experienced the institutional upgrading and product upgrading led by the wealth upgrading with the increase of residents’ income，since the reform and opening up. However，it presents new features such as market structure adjustment，business division，regulatory integration，institutional and product upgrading，influenced by financial deleveraging and various regulatory policies in 2018. In the review of this report，we focus on the development of products and services of financial and non-financial institutions in the wealth management market，and give consideration to the evaluation and analysis of family trust related to high-end wealth management in China from the perspective of supervision. Looking to the future，the domestic wealth management market will change from the product-oriented 1.0 era in the past to the service-oriented 2.0 era. For participating institutions，the next step is to upgrade their services on the basis of institutional upgrading and product upgrading.