Banks Wealth Management Business And Its Mode Of Study

As wealth accumulated globally, HNWIs (High Net Worth Individuals) have been pursued by banks with their more personalized and diversified financial needs for professional wealth management. Wealth management has become an important source of income for many large banks and a rather new service for them to upgrade their service quality and get more gains. Define wealth management and explore some successful operating models is both necessary and beneficial.Banks provide wealth management service for HNWIs. It is a knowledge-intensive service where research abilities count. Wealth management service keeps growing and expanding. It doesn't take up banks'capital and it continuously brings in steady noninterest revenue for banks. Targeting its niche, wealth management is serviced in various ways. Normally it includes account and cash management, asset management and consulting services. Wealth accumulation, the growth of emerging markets, development of financial markets, the improvement of laws and the innovation of banks are combined motivators of wealth management. This dissertation delves into advanced models of three typical foreign banks: JP Morgan Chase & Co., UBS AG and HSBC Holdings plc. Research includes the organizing and managing structures of these banks'wealth management service department, product and service specialties, and it clearly shows what these models have in common: special department, special service channels, varied products, strong R&D ability, and great brand value.Chinese banks can draw on advanced models, make wealth management a strategic business, strengthen the R&D team, improve service channels, innovate to provide diversified products, increase the brand value, improve relevant laws and build up a cooperative business atmosphere.