Research On The Transformation Of Yongan Futures Company's Brokerage Business To Wealth Management

China's economy is in a new period of reform and development.As an important tool of risk management for capital market,the futures industry has also ushered in its own development opportunities.Brokerage business is the core basic business,and also the most important source of revenue,of futures company.However,the homogeneity of products is so serious,that futures companies can only obtain customer resources by launching "commission war".This will not only makes a huge impact on the development of the futures industry,but also makes a negative impact on the whole environment of the financial market.Along with the tightening supervision of the securities and futures market,and the increasing demand of residents for one-stop wealth management,futures companies are forced to stop sticking to the traditional income-generating channels.The emergence of wealth management business provides more market space for futures companies to develop in the future.Therefore,the transformation of traditional brokerage business model is imperative.Only the transformation to wealth management business can promote the sustainable development of the futures industry.The transformation of brokerage business is not only the transformation of the futures company's business model,but also the restructuring of the company's human resource system,mid-background system and so on,aiming at creating a comprehensive futures service platform.Although the futures industry is actively trying to transform to find a suitable future development path for futures companies,but the effect is very little.In the background of thoughing financial harsh winter time,the transformations of futures companies' brokerage businesses to wealth management businesses are even more hindered.This paper takes Yongan Futures Company as the research object,analyses the specific practices of Yongan Futures Company in the process of brokerage business transformation in the past,and combines with the general environment of China's futures industry,puts forward the development direction of Yongan Futures Company's brokerage business transformation to wealth management business,as well as the difficulties encountered in the process of transformation,and gives corresponding measures and suggestions.In the process of brokerage business transformation,Yongan Futures Company should conforms to the market demand,develops differentiation strategies by subdividing customer groups and innovating wealth management products,consolidates the leading position in the futures industry and improve the core competitiveness of the companyThis paper consists of f ive chapters.The first chapter is the introduction,which mainly introduces the research background,significance,the research methods,ideas and innovations,and summarizes the literatures and theories published by relevant experts both domestic and abroad.The second chapter is to analyze the current situation and existing problems of Yongan Futures Company's brokerage business.Firstly,it briefly summarizes the background of transformation of Yongan Futures Company's brokerage business.Then it analyses the existing problems of Yongan Futures Company's brokerage business from the external and internal environment respectively.On the basis of the first two parts,the third chapter puts forward the direction of the transformation of Yongan Futures Company's brokerage business,that is,from brokerage business to wealth management business,and clarifies the necessity of the transformation from brokerage business to wealth management business,which is mainly embodied in four aspects:firstly,the macro environment of financial mixed operation drives Yongan Futures Company to exert its professional advantafges and strengthen wealth management business to compete with other financial institutions;secondly,the futures indices have not yet returned to normalization,the profit margin of brokerage business narrows down,and wealth management business has become a new profit growth point of Yongan Futures Company;thirdly,wealth management is to develop personalized investment programs for customers,which is an important measure of Yongan Futures Company differentiation strategy;fourthly,the establishment of regulatory system which set net capital as the core indicator leads to the centralization of competition in the futures industry,which intensifies the competition among large futures companies.Furthermore,it points out the difficulties that will be encountered in the transition of Yongan Futures Company from brokerage business to wealth management,including insufficient understanding of customers',needs,increasing external competitive pressure,insufficient talents reserve for wealth management business,and imperfection of departmental functions and assessment system.The forth chapter gives the corresponding measures and suggestions in full consideration of the advantages of Yongan Futures Company.The fifth chapter is the conclusion,which summarizes the conclusions of this study,and draws the transformation strategy suitable for other institutions in the futures industry.