Fund advisory services refer to fund advisory organizations providing strategies and advice of fund investments on investors’ requests according to corresponding laws，regulations and protocols，as well as making decisions on varieties，quantities and trading timings of fund investments. After 21 years of development of mutual funds，fund advisory service industry in China was then officially licensed by China’s Securities Regulatory Commission and got smooth in growth. Mutual fund is an ideal way that allows individual investors to participate in capital market and share economic growths. At the end of 2020，the number of mutual fund management organizations in China reached to approximately 150 and the scale of property management exceeded 18 trillion yuan. It is a remarkable fact that the actual returns of investors were much lower than fund performances whereas fund performances were extraordinary in general. It can be attributed to the volatility of capital market of China，and also affected by the mentality and behaviors of investors. Therefore，to further complete investment advisory system might be helpful to improve the investment experience，actual returns and fulfilment of wealth management needs of general investors. In the current situation，fund investment advisory services in China are gradually adopting the buyer-agent mode，which is equipped with more professional investment advisory teams and better services. Regards to the current development of China’s mutual fund investment advisory services，it is important to enhance investment advisory regulations in order to perfect the fundamental structure and boost reforms of capital market，and to assist the formation and development of neo-economy as a whole.