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In the era of the Internet, individual investors can conveniently enter the market and purchase financial products. Traditional portfolio management models focus on risky markets such as stock markets. However, risk-averse investors, such as normal families, may concern appropriate long-term financial planning. This paper considers the problem of portfolio management of bank financial products with a long-term planning horizon. By taking into account the final return and the flexibility, a multiobjective model of long-term portfolio is proposed. A multiobjective evolutionary approach is employed for the handling of conflicting objectives. Test instances are generated to illustrate the problem. Experiment results show that the presented algorithm can efficiently find trade-off solutions. Our experimental results also show that crossover probabilities should be separately implemented for long-term portfolio problems with hybrid encoding. Performance comparison of different crossover operators suggest that, for a real-valued encoding part, the simulated binary crossover (SBX) has a better performance than BLX- operator. While for a binary encoding part, a uniform crossover operator might be appropriate for large-scale instances. The proposed multiobjective model in this paper provides risk-averse investors with an appropriate decision support model for the long-term financial planning and management.<\/jats:p>","DOI":"10.1155\/2020\/3106097","type":"journal-article","created":{"date-parts":[[2020,4,7]],"date-time":"2020-04-07T23:30:56Z","timestamp":1586302256000},"page":"1-18","source":"Crossref","is-referenced-by-count":5,"title":["Optimizing Long-Term Bank Financial Products Portfolio Problems with a Multiobjective Evolutionary Approach"],"prefix":"10.1155","volume":"2020","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-8744-8144","authenticated-orcid":true,"given":"Jian","family":"Xiong","sequence":"first","affiliation":[{"name":"School of Business Administration, Southwestern University of Finance and Economics, Chengdu 610074, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Chao","family":"Zhang","sequence":"additional","affiliation":[{"name":"School of Economics, Southwestern 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