Consignment means selling for others; Financial products include insurance and securities. Consignment wealth management products are wealth management products sold for others, only representing the seller, and the responsibility belongs to the real seller. For example, banks sell stocks and insurance on their behalf, and the institutions that give you money or pay your claims are not banks, but securities companies and insurance companies. In this case, if the bank goes bankrupt, no one will take care of the wealth management products and you won't get the money. However, if you go directly to a securities company or an insurance company to buy wealth management products, even if it goes bankrupt, it will not go unnoticed.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.