The Research On Personal Financial Services Development Strategies Of PFJN Branch

Commercial Bank’s Personal Financial Services refers to the business practice that commercial banks provide such specialized services as financial analysis, planning, investment advisers and asset management etc. to individual and household clients, and make use of various financial instruments to help clients build an asset portfolio of wealth preservation and appreciation so as to smoothly realize their various financial goals in accordance with their financial situations, and risk-taking capacity. With the sustained and rapid economic growth, ever increasing residents’ income and their demand of financial management, personal finance business sector in the commercial bank has become widely accepted, which nowadays is the crucial areas where all the banks are competing against each other. Any bank who intends to make a difference in the fields of retail transaction must take active measures to formulate scientific and effective financial management business development strategy. This paper, with the Personal Financial Services of PFJN Branch as its research object, tries to figure out the right direction of PFJN’s wealth management business development, and to work out effective measures and suggestions.The first chapter of this paper presents the background and significance, study ideas and methods, research framework and content, literature review and research innovation and deficiencies. In the second chapter, the author discusses the connotation of personal financial management in terms of the different definitions by CBRC and the international Financial Planning Standards Board of Personal Financial Services, and then describes several important theories of developing the Commercial Bank’s Personal Financial Services, including life-cycle theory, portfolio theory, market segmentation and financial innovation theory. The third chapter is about the in-depth analysis of the development situations of PFJN Branch’s Personal Financial Services, the problems and root causes. In the fourth chapter, the author begins with the introduction of the development course, characteristics of personal financial business at home and abroad, after which by making comparison of development, market position, brand awareness, and service level, the author concludes experiences that can be drawn on by Chinese commercial banks. Chapter five, on the basis of the former three chapters and relevant theories, drawing on the advanced experience of foreign commercial banks in developing financial business, combined with the real conditions of PFJN branch’s Personal Financial Services, deals with the strategies and recommendations of business development. Chapter VI is the concluding part of the paper.This paper aims to provide useful exploration and guidance to help the Personal Financial Services of PFJN cope with the fierce competition from its counterparts, thus achieving leapfrog advance of the wealth management business.