Research On The Development Strategy Of Wealth Management In Taiyuan Branch Of Z Bank

The sustained development of social economy and the improvement of national income have led to the emergence and rapid development of wealth management business.The introduction of new regulations on capital management and the emergence of new demands for public wealth have put forward higher requirements for the wealth management ability of banks.Faced with the new challenges of the development of wealth management business,how to grasp the new opportunities of wealth development,expand the customer base,obtain high net assets customers steadily,and do a good job in differentiated operation and service are worthy of consideration by commercial banks.At the same time,the increasingly fierce competition in the same industry also makes the value of wealth management business more prominent.This study focuses on the wealth management business of Z Bank Taiyuan Branch of Commercial Bank.Based on the analysis of its external environment,the paper further analyses the current situation of development and constructs a "five-force model" which affects the wealth management industry of commercial banks through industry competition analysis.With the help of SWOT analysis method,the strengths,weaknesses,opportunities and challenges of its wealth management business are clarified.Then,from the perspective of strategic management theory and Blue Ocean strategic theory,starting from the advantages of Bank Z Taiyuan Branch,we explore its competitive advantage strategy and Blue Ocean strategic development path.On the basis of SWOT analysis of external environment and current situation,focusing on the advantages and competitiveness of Taiyuan Branch of Bank Z,this paper puts forward competitive strategies to promote the focus of wealth management business of Taiyuan Branch of Bank Z,focusing on the advantages and competitiveness of Taiyuan Branch,focusing on differentiation management,customer service experience,middle and high-end customer groups,private banking business development,asset allocation and financial technology,and enhancing the advantages of wealth management business of Taiyuan Branch of Bank Z in local industries.Differentiated competitiveness.With the introduction of new regulations and stricter supervision,the business development model and profit model of wealth management have also changed.The change of target customer group and the new customer demand also put forward higher requirements for the professionalization and humanization of the bank.The development of wealth management in commercial banks has also gone through the stage of scale expansion to benefit priority,and the next step will be to enter the stage of business model winning.For traditional commercial banks,to develop wealth management business,we should not only examine the external development environment,but also seize the development opportunities,give full play to the competitive advantages and explore a development path with its own characteristics based on its own development advantages.Therefore,the development strategy should be updated iteratively in time,adapted to local conditions,and changed according to the situation.