Research On The Brokerage Business Problems And Countermeasures Of The YZ Business Department Of China Merchants Securities

Since the birth of the securities market after China's reform and opening up,brokerage business has been dominant in China's securities companies for a long time.But with the constantly emerging of the new securities company,the cancellation of the fixed commission system and the development of the Internet financial,securities brokerage entered the era of"small profits",brokerage commission rate declining,has seriously affected the securities brokerage business income growth,the brokerage business as the main source of securities companies survive difficulties,the traditional securities channel has become low profit because of the price war and the rate cut is unable to support the company running.Traditional channel services can not meet the investment needs of customers,unable to attract the attention of customers,securities companies brokerage business improvement and innovation is urgent.As a prefecture-level securities distribution agency affiliated to China merchants securities,the business development of China merchants securities YZ business department is also inseparable from the support of brokerage business.Since its establishment in 2001,the YZ business department of China merchants securities has always regarded the brokerage business as its important advantage business,constantly increasing the construction efforts to ensure that the brokerage business is ahead of the industry competitors.However,since 2016,its operating revenue and profit have been declining rapidly year by year.On the one hand,the downturn of domestic securities market leads to the shrinking of securities trading volume;on the other hand,fierce market competition leads to the sharp decline of trading volume and the reduction of commission fees.In order to cope with the current grim situation of development,China merchants securities YZ business department brokerage business improvement is imminent.Based on YZ China merchants securities sales department as the research object,using the methods of literature analysis,field investigation,to enterprise strategic transformation theory,service marketing theory,the 4 R marketing theory and the STP marketing theory as the foundation,analyzes the status quo of China merchants securities YZ sales brokerage business,the existence question and reason,on the basis of this put forward aimed at the existing problems and reasons of brokerage business improvement measures and safeguard measures.In recent years,especially in 2018,the brokerage revenue and profit of YZ business department of China merchants securities have been declining rapidly,due to both external factors and internal problems.From the perspective of the brokerage business of China merchants securities YZ business department,there are mainly problems such as over-dependence on channel business,less product categories and low added value,unreasonable customer structure,low customer service quality and weak business innovation ability.The reasons for these problems are as follows:ignoring the expansion of value-added services,lacking scientific marketing concepts and means,failing to meet the high-end investment needs of customers,marketing personnel with low education background,poor execution,and imperfect employee incentive mechanism.Therefore,the YZ business department of China merchants securities should take measures to promote the transformation of brokerage business,accelerate product development and update,improve marketing models and strategies,expand high-net-worth customers,increase business innovation,and take corresponding measures to guarantee the talent team,customer service,performance appraisal and other aspects.Only in this way,can out of the current brokerage business predicament.There may be some deficiencies in the research and analysis on the improvement measures of the brokerage business of China merchants securities,which need to be further improved in practice.