Research On Wealth Management Business Strategy Of Bank X

With the continuous marketization of interest rate in our country,the financial market has gradually become mature and perfect,and investment channels have become more and more diversified.All of those have directly or indirectly promoted the development of "financial disintermediation." In recent years,the major profit model of banks relying on spread income has become the bottleneck that must be overcome in bank development.The profit margin of banks is getting lower and lower.As customer demand for commercial banks has become diversified,complicated and individualized,domestic banks started to pay attention to wealth management business.As a result,Bank X also gradually started to pay attention to and develop the wealth management business.As an important part of retail business,Bank X's wealth management business started relatively late.It began to issue financial products in 2010,six or seven years later compared with its peers.Its wealth management business is mainly self-financing business,supplemented by wealth agency products,while agency-based services and financial services are the major sources of Bank X's intermediary business income of wealth management business.Bank X's wealth management business has the following features: it started relatively late but has developed rapidly;its scale is small but with great potential for growing;it has distinguishing features but is still low-end;the management ability is weak and standards are lacking.In the rapid development of Bank X's wealth management business,many problems have been exposed.First,there are fewer types of wealth management products.Second,the middle and high-end customers are not stratified properly.Third,the business development model is extensive.The reasons are mainly the following four aspects: first,development strategy and tactics are not clear;second,organization structure is not perfect;third,foundation for business development is weak;last,shortage of talent resources exists.At present,major commercial banks have taken the lead in the wealth management business market,and wealth management business has become an important profit source for some commercial banks.However,Bank X's wealth management business is still in its infancy,and its specialization management ability needs to be improved.In order to promote the rapid development of Bank X's wealth management business,the following countermeasures are proposed.First,the business philosophy should be changed.Determining business positioning and development goals of Bank X's wealth management business should be more customer-centric,and a business war for high-net-worth customers should be formulated.Second,its organization and management structure should be further improved,and an independent wealth management business department should be set up,achieving the reform of the department system.On the above foundation,product system construction should be strengthened,forming a complete system of product research and development,refinement of customer stratification,and establishment of a unified sales mechanism.Besides,channel construction should be improved and a wealth management center should be set up.Last but not least,building of personnel team should be accelerated and talents should be introduced vigorously,striving to benefit from the tide of wealth management business development.