Research On The Transformation And Development Of Securities Brokerage Business Under The Wave Of Fintech

In recent years,the commission rate of China securities industry has declined significantly.The homogeneous competition of securities brokerage business,which relies on securities trading commissions as the main source of income,has become increasingly fierce.The rise of Fintech has brought opportunities for securities companies to improve their service efficiency and seek their own development.At the same time,it also proposes the need for securities companies to transform their brokerage business into wealth management.The existing theoretical research on the impact of Fintech on the development of securities brokerage business is relatively limited.This paper conducts an in-depth and thorough research on the challenges,problems and strategies of securities companies' brokerage business under the wave of Fintech.This would help companies effectively count on Fintech to promote the transformation and development of the brokerage business,thereby achieving a self-sustainable and stable growth.This paper first defines relevant concepts such as Fintech,securities brokers,securities brokerage business,wealth management,etc.,and explains them on the relevant theoretical basis.It outlines the development dilemma of China securities brokerage business at current situation and analyzes the reasons and significance of the transition from securities brokerage to wealth management.Subsequently,by illustrating the existing application of Fintech in the securities brokerage business,this paper analyses the opportunities and challenges that Fintech brings to the transformation at macro-level.In addition,a case study of “Securities ?” was examined at micro-level to illustrate its Fintech development and to analyze the problems faced by the company's brokerage business in the process of transformation and the reasons behind the problem.Finally,with reference to the experience of foreign schwab Securities and Huatai Securities' transformation from brokerage business to wealth management,this paper proposes specific measures and suggestions for the transformation of the brokerage business of China securities companies by taking opportunities of Fintech.