Research On Development Strategy Of Brokerage's Asset Management Business

Since the China Securities Regulatory Commission released the supervision in 2012,such as banks,trusts,funds,and private placement with license have participated in the asset management business,the management scale of asset management and market competition continue to increase.Constant innovation with product types,transaction structure,and underlying assets,the asset management industry has entered the era of big capital management.Although deregulation creates favorable conditions for stimulating the vitality of the financial market,provides more choices for financial institution and wealth investment.But due to regulatory separation,the asset management industry has many hidden dangers while it is developing rapidly.Such as multi-level nesting of transaction structure,fund idling,underlying assets cannot pass verification and so on problems gradually emerge.Since 2017,the regulatory agencies such as the China Securities Regulatory Commission,the China Banking and Insurance Regulatory Commission,and the People's Bank of China had promulgated a series of normative documents of drop lever and dechannelization individual or combined from different business lines.Aiming to gradually release the risks accumulated in various asset management businesses,guide asset management business entities to enhance active management capabilities,return to the source of asset management business,break the rigid redemption,make financial to serve entities,promote the healthy development of China's financial market.The regulatory agencies have shifted from “light control” to“strong supervision”,and China's asset management industry has gradually entered the“strong supervision era”.Under the new situation,how to solve development problem of the asset management business of securities companies,related to the transformation of the development of Securities Company and the improvement of asset management benefits.Therefore,this paper conducts a detailed study on the asset management business of securities companies in the strong supervision through the case analysis method.This paper describes the development strategy of the brokerage asset management business in the strong supervision.The first chapter is the basic explanation of the asset management,including the definition of asset management and basic theory of enterprise strategic management.The second chapter mainly describes the progression stage of the asset management business,analyzes the situation of China's brokerage asset management business in the strong supervision,and finds out the problems.The third chapter is mainly the case analysis of Z securities company,introduces the Z the basic condition of the securities firm and its asset management division,from the asset management business current situation and points out the problem.Finally,using SWOT analysis theory and listing the advantages,disadvantages,opportunities and threats of Z brokers in assetmanagement development to building a SWOT matrix.Then,combining the advantages,disadvantages,opportunities and threats to formulate strategies of future asset management business development for Z brokers.That is to return to active management,through product innovation,team building and big data analysis,to enhance the profitability of asset management business.Regardless of how the regulatory policy changes,channel marketing capability,risk control capability and investment management capability are still the core of the brokerage asset management business.This paper conducts data analysis and field investigation on the development of asset management business of Z brokers,designs to propose feasible strategies to Z brokers.In the future,they can create differentiated services through differentiated development and win our own business habitat in the domestic asset management industry.It has certain reference significance to other securities companies of the same type as Z brokers.