Study On High Net Worth Client Purchase Behavior Of Private Bank Financial Products

With the continuous expansion of the scale of investable assets held by individuals, private banks are becoming increasingly competitive intense. In the current domestic and international private banking fierce market competition, high quality and professional products and services are necessary for high net worth clients.The development and situation of private banking and high net worth individual are introduced in detail, and prospects and problems of the domestic private banking and issues are pointed out. The research works of private banking financial products for scholars are summarized. And research content of effect relationships of private financial products perceived value and high net worth clients purchase behavior is proposed.The classification of private bank financial products, policies and regulations of private bank and the development trend of China private banking are introduced, firstly. And then, the research progresses of consumer perceived value and the current status of development of high net worth individual are reviewed. On the basis of above relevant theories, the multi-dimensional model of private financial products to high net worth customers perceived value and customer purchase behavior is proposed. Meanwhile, 15 research hypothesis between functional value, experiential value, perceived cost, conditional value, added value and repeat purchase, funds transfer purchase, premium purchase are established.Adopting the analysis method of small sample surveys, reliability analysis and validity analysis, this essay adjusts and optimizes the initial questionnaire with results of the analysis and in-depth interviews, and forms final questionnaire of the relationship of private financial products customer perceived value and customer purchase behavior. With the help of exploratory factor analysis and reliability analysis, the construct validity and reliability of five dimensions of perceived value are analyzed. We use multiple linear regression analysis to test the influence degree of private financial products perceived value and high net worth clients purchase behavior.The result of analysis illustrates that experiential value has a very significant positive impact on the repeat purchase; funds transfer purchase and premium purchase. Functional value of financial products for private banking has a positive significant effect on the repeat purchase and funds transfer purchase. Perceived cost of high net worth clients has a negative significant impact on the funds transfer purchase and premium purchase. Added value of private bank has a positive significant effect on repeat purchase and premium purchase.The suggestions for private bank are proposed. We sincerely hope that the private bank could highlight the essential attribute of financial products, build professional quality financial team, strengthen risk-based supervision of products and services, and provide targeted value-added services. Meanwhile, the limitation of this research is proposed, due to problems of data collection, we have adopted the interview and questionnaire method to collect data for samples. In this way, the choice situation of part products(services) could be understood directly and accurately for customers. If we will be able to obtain a more comprehensive and accurate data later, the research of private banking customer purchase behavior can be discussed quantitatively on the basis of this research works.