Case Study On The Transformation Of Huatai Securities Brokerage Business To Wealth Management Business

With the rapid growth of China's economy,the demand for wealth management in China's residents is also growing.From the supplier of wealth management,the securities company,since the fixed fee has been changed from the fixed system to the floating system,the homogenous competition has led to a sharp drop in the commission rate.In addition,the volatility of China's stock market has caused the traditional business income of securities companies to fluctuate greatly.Therefore,the development of a relatively fixed wealth management business is of great significance to optimizing the income structure of securities companies.There are two reasons for choosing Huatai Securities in this paper: First,Huatai Securities attaches great importance to wealth management business;second,Huatai Securities,as a leading securities company,has a foundation for wealth management business transformation.Based on the original brokerage business unit,Huatai Securities established the brokerage and wealth management department by integrating the resources of the company's R&D,investment banking,and asset management departments.The purpose of this paper is to provide a practical and feasible method for the transformation of Huatai Securities' wealth management business based on the advanced experience at home and abroad and on the basis of its own characteristics.After collecting a large amount of Huatai Securities' data and data,this paper describes in detail the process of Huatai Securities' brokerage business transformation to wealth management business.Through the use of financial analysis and case analysis,the reasons for the transformation of Huatai Securities,the results of the transformation and the problems in the transformation are analyzed.According to the problems encountered by Huatai Securities in the transformation,some practical suggestions were put forward to provide some reference for the next transformation of Huatai Securities' wealth management business.Huatai Securities has transformed from five aspects: customer stratification,wealth management product system,full business chain,AsstMark and investment consultant.Huatai Securities' wealth management business consists of three parts:securities futures options brokerage business,financial product sales business and capital intermediary business.After analysis,after several years of transformation,Huatai Securities ranked among the top three in the industry.At the same time,Huatai Securities' collective management customer penetration rate is also rising,which proves that after the transformation of Huatai Securities for a period of time,more and more brokerage customers have turned into reasonable wealth customers.Its brokerage business has achieved initial success in transforming its wealth management business.After analysis,it was found that Huatai Securities' brokerage business also faced some problems in the process of transforming into wealth management business.First of all,the customer classification is not scientific enough.Only the size of the funds invested by the customers in Huatai Securities is considered.Secondly,the wealth management products developed by Huatai Securities are seriously homogenized and lack the differentiated competitiveness.Once again,the talent training system is not perfect,and its training content and The actual business isfar from each other;in the end,the brand is not focused enough and lacks core competitiveness.For the problems in these transformations,the author will give his own advice in three aspects.First of all,we should refine the criteria for customer grading.In addition to the size of the funds invested by customers in Huatai Securities,we should also take into account the age and risk preferences of our customers.Only in this way can we provide targeted products and services to our customers.Secondly,enrich the pool of wealth management products;build a product evaluation system;establish product screening,development,and introduction of work processes;establish a daily tracking and research mechanism for financial products,and do a good job of risk control.Finally,to strengthen personnel training,in addition to the training of traditional investment consultants and online sales managers,it is also necessary to strengthen the training of new media operators and cross-border wealth management talents.