Analysis In Personal Financial Services Of Commercial Banks In The USA

Beginning in Switzerland, personal financial services were originally one-to-oneprivate comprehensive financial services provided by the Swiss banks for the fewwealthy clients, to help customers to realize the store of value or value-adding. Afterthe Second World War, the U.S. economic recovery led to the rapid accumulation ofnational wealth. With the necessity of future life planning and safeguard, the massaffluent needed the professionals with financial knowledge to manage their assets andto help achieve their short-term and long-term life and property target. So thecustomer base of personal financial services expanded by various financial institutions,which led to the rapid development of personal financial services in United States.During the whole process, many factors promoted personal finance business to bemature and perfect, such as the development of IT, financial mixed operation, soundfinancial system, regular financial markets, financial products innovation and efficientnetwork of financial services.Because personal financial services imply huge profit margins and businessopportunities, U.S. commercial banks regard personal financial services as adevelopment priority. Different with traditional savings or investments, personalfinance in the United States includes not only the accumulation of wealth, but alsowealth protection and arrangements. In the case of mixed operation, U.S. commercialbanks form a diversified development strategy integrating banking, securities,insurance and investment, to provide with a variety of comprehensive financialproducts and services and to meet customers’ increasing personalized demand. Basedon each client’s financial situation and risk preferences, advisors develop differentinvestment strategies and income objectives in accordance with the norms of personalfinancial business processes, in order to maximize investment returns of the clients’ assets. Segmented customer groups and differentiated services are the basic ideas andbasic operation means of the personal finance business development of U.S.commercial banks.For huge market potential in China, personal financial services as an emerginglow-risk, low-cost and high-yield intermediate business, develop rapidly. Therefore, ithas an important practical and strategic significance for China’s innovation offinancial tools and financial system, consumption stimulation, achievement of diverseinvestment channels and competitiveness improvement that we value and research thedevelopment of the commercial bank personal financial services and occupy thisemerging market as soon as possible.This thesis uses theories of economics, finance and management, and researchmethods such as static analysis, dynamic analysis, international comparison and so on.The paper is divided into six parts.The first part deals with the basic connotation and related theories of commercialbanks’personal financial service, to define the personal financial services and theclassification. The theoretical basis of the commercial bank personal financial servicesincludes the life cycle theory, the portfolio theory and the monetary time value theory.The second part describes the background and development of U.S. commercialbanks’personal financial services.The third section analyzes the U.S. commercial banks’personal financialservices system, which includes the business levels, business departments, the productsystem and practitioners conditions.The fourth part describes the business model of U.S. commercial banks’personalfinancial services, the standard of customer segmentation, business operation methodand operational characteristics, and summarizes its development trend.Part five sums up the effectiveness and experience of U.S. commercial banks’personal financial services.Part six analyzes the problems of commercial banks’personal financial servicesin China and proposes improved countermeasures by drawing on the experience of theU.S. personal financial services development.