The Research On The Enhancement Strategy Of Wealth Management Services In Tianjin Branch Of China Merchants Bank

In recent years, with the rapid economic development in China, the substantial increase in the disposable income of residents, financial spending power of residents has been greatly improved, and their financial consumer attitudes have undergone tremendous changes. The distribution of social wealth, the wealth held by the residents as well as financial spending power structure, the emergence and strengthening of household market dominant position, causing the changes of residents in the financial consumption concept, as well as personalized, comprehensive, knowledge of the financial needs of growth, laid the foundation of society for the development of wealth management business, and people's financial needs capacity has also been greatly improved. China Social Investigation Office had a special questionnaire survey in four cities including Beijing, Tianjin, Shanghai and Guangzhou. The survey showed that 74% of survey respondents were interested in wealth management services. As one of major cities in the northern of China, Tianjin is stepping forward fast into the "northern international financial center". Its fast-developed economy at an unprecedented rate and significant increase in resident's income laid the foundation for the wealth management market in Tianjin. As a pioneer in China's retail banking, China Merchants Bank has accumulated a lot of experience in wealth management business and formed their own development characteristics with a certain comparative advantages in the domestic industry. Tianjin Branch of China Merchants Bank was established nine years ago and has a more mature wealth management business with a solid customer base. But with the continuing development of market, Tianjin Branch of China Merchants Bank found much to be desired in the management and services of wealth management business. At the same time, each commercial bank invests in the retail business one after the other and sets wealth management business as the focus of future development. Each major financial institution has been offering attractive products and new services to inhale customers and seize the market. This undoubtedly contributed to the wealth management market, but also brought a certain threat and challenge to China Merchants Bank's wealth management business.For solving the above problem, starting with wealth management business scope, service systems, IT technology, organization structure, etc., this thesis introduces the status of Tianjin branch of China Merchants Bank, describes its development advantages including the brand influence, structural superiority, system integrity, network construction and system building advantages of scale advantages and so on, and also analyzes shortcomings in many areas including product convergence, unsound team-building, imperfect risk prevention mechanism, wealth management systems, performance appraisal system and customer relationship maintenance platform construction. This thesis analyzes opportunities that the wealth management market of Tianjin is facing from several aspects, such as the rapid development of per capita income of residents and economy in Tianjin and customers'rechosing wealth management institutions due to financial crisis. But with the market changes, each commercial bank set wealth management business as the focus of future development one after the other. Each major financial institution has been offering attractive products and new services to inhale customers and seize the market. This undoubtedly contributed to the wealth management market, but also brought a certain threat and challenge to China Merchants Bank's wealth management business. After introduction of the situation and analysis of all aspects, this thesis has done a wealth management market segments for Tianjin Branch of China Merchants Bank according to the customer demand patterns, the different life-cycle characteristics, the subjective risk preference of investors, the professional of investors, the factor of customer behavior and service elements, etc. And extracting 400 ones from customers, a market survey was conducted to identify customer group industrial distribution, age structure, education structure, investment preferences and other characteristics in order to prepare the research base for further designated enhancement strategy.Through the above analysis, regarding the wealth management service enhancement of Tianjin Branch of China Merchants Bank, this thesis sets down a multi-agency approach as follows(:1)expand the ranks of the VIP manager in human resources strategy, improve the level of expertise of wealth management professionals, build a pair of line between customer managers and product managers; (2) choose excellent partner in the product and brand strategy, sort out the "Golden Sunflower" brand and product brands, enhance the research and development capabilities of product manager and strengthen the development of offshore business; (3) integrate resources, promote process optimization, vigorously promoting the "network create profit" and improve customer segmentation service system in the process optimization strategies - service network and channel strategy; (4) improve the professional systems such as wealth management systems, performance evaluation systems and marketing management platform in IT technical strategy, and vigorously invest in the construction of electronic equipment.Finally, the thesis concludes that if Tianjin branch of China Merchants Bank wants multifaceted development for survival, it must keep high degree of market sensitivity, continue to tap their own potential, keep improving in the sub-clients, personnel training, risk control and other areas, and gradually open up the road of financial management adapting to the development of Chinese national conditions and Tianjin branch of China Merchants Bank. Through the description and analysis of current wealth management business in Tianjin Branch of China Merchants Bank, this thesis proposes the corresponding strategy and hopes to play a certain reference for its business development and play a role in the future development.