Research On The Competitive Strategy For Wealth Management Business Of Haitong Securities

As China's economy shifting from high-speed to high-quality development,national wealth continues to accumulate,the number of high-net-worth individuals and the scale of individual-investable financial assets continue to expand,the concept of resident wealth management is increasingly popularized and deepened,providing internal demand for the development of wealth management business and creating a good space for development.Under the main tone of the country's strict control of financial risks,various financial regulatory policies have frequently prompted financial institutions to break the traditional asset management business model and build a new wealth management business structure.At the same time,the expansion of securities companies,the homogenization of business,the emergence of emerging financial institutions has intensified industry competition.The sluggish stock trading market and the falling commission rate have hit the traditional pillar business revenue,driving securities companies to actively seek new revenue-generating channels and accelerate the transformation of wealth management business.Based on the new economic environment,policy environment and business needs background,combined with the current situation of Haitong Securities,this paper comprehensively uses the research methods such as literature research method,comparative analysis method and investigation research method to select which competition strategy should be selected in the field of wealth management to achieve competitive success and to conduct research.First of all,the article analyzes the Chinese and foreign literature related to wealth management,and believes:how to develop wealth management business in light of China's current macro environment and the characteristics of securities companies themselves,the research is relatively insufficient,further research is needed,and at the same time,through the definition of the concept of competition strategy,determine the research object of this paper,and clarify the research process around the research object using PEST analysis method,Porter's five-force model method and SWOT matrix analysis method.Secondly,this paper analyzes the external environment and internal conditions of Haitong Securities' wealth management business by using PEST analysis method and Porter's five-force model method.The external environment analysis believes that the external environmental threats of Haitong Securities' wealth management business are relatively concentrated,which offsets external opportunities to a certain extent,but it has sufficient capacity to fully utilize the favorable opportunities of external factors to avoid threats;internal conditions analysis believes that:The internal conditions of Haitong Securities are in a favorable position in the business development,and their own advantages are stronger than the disadvantages.They should give full play to the internal advantages to promote the business,and actively complement the shortcomings to improve the market competitiveness of the wealth management businessThirdly,this paper uses SWOT matrix analysis method to analyze the opportunities and challenges of Haitong Securities' wealth management business,and comprehensive analysis of its advantages and disadvantages.By constructing SWOT matrix,propose the development of Haitong Securities wealth management business,and match SO,ST,WO,WT strategy selection.On the basis of SWOT analysis,combine the strategic target of wealth management for Haitong Securities and match the analysis of three competitive strategies and research subjects,the best competitive strategy is determined as a differentiated competitive strategy.Finally,based on the positioning of the differentiated competition strategy,the specific implementation plan of Haitong Securities' wealth management business competition strategy is formulated,and the market competitiveness of research subjects is improved from four dimensions:product innovation,investment team building,customer classification and channel expansion.Five aspects of business integration,departmental collaboration,technology empowerment,assessment incentives,and risk management provide practical guarantee for the implementation of Haitong Securities wealth management competition strategy.The article hopes to use this research to develop an effective competitive strategy for the development of Haitong Securities' wealth management business,with a view to expanding the competitiveness and market share of the wealth management market in the current economic policy environment and business context,and assisting Haitong Securities' business model.The smooth transformation,at the same time,provides valuable reference for the development of wealth management business of other financial institutions.