Wealth Management Subsidiaries Of Commercial Banks Have Great Effect On Independent Wealth Management Firms

With the relatively stable growth of national economy and gradual bottoming of China's L-shaped economy,national disposable income further increase simultaneously,the wealth management industry will usher in new development opportunities.After nearly ten years barbaric growth,Independent Wealth Management Firms turned into an important part of the wealth management industry,which unavoidable entered the transition period of analgesia since 2014 to deal with the impact on tighter supervision and market changes.When Independent Wealth Management Firms struggled to cope with governmental supervision,Wealth Management Subsidiaries of Commercial Banks were born at the end of 2018.As an important executor of the reform of bank financial services,Wealth Management Subsidiaries of Commercial Banks were placed great expectations.With the release of service scope and relevant regulations of financial subsidiaries,Independent Wealth Management Firms have to face the huge impact of Wealth Management Subsidiaries of Commercial Banks on future business development.This article focused on the impact of the generation of Commercial Bank Wealth Management Subsidiaries on Independent Wealth Management Firms.In this paper,I introduced the development of wealth management industry,Commercial Bank Wealth Management Subsidiaries,and Independent Wealth Management Firms in the first place.In the second place,I emphasized the existing problems of Independent Wealth Management Firms.Meanwhile,through Michael Porter Five Forces Model,I analyzed the specific influence of Commercial Bank Wealth Management Subsidiaries on Independent Wealth Management Firms.Last but not least,this paper put forward some strategic recommendations to develop wealth management industry,such as based on characteristic products and refined services,strengthen asset management ability as a central issue,improved the ability of risk control and management,and finally achieved product differentiation which ensure cost and risk were highly controllable.