Research On Competitive Strategy For Wealth Management Business Of Z Securities

China after more than 30 years of sustained economic development has become the second largest economy in the world,the disposable income of residents has been improved,and the number of high net worth individuals is expected to become the first in the world,thus forming a huge wealth management market demand.If Securities want to seek development in the competitive environment where leading securities are concentrated,to create characteristic advantages of wealth management business has become an inevitable move to adapt to industry changes.Securities company Z as a large established nationwide comprehensive securities company,the comprehensive competitiveness is among the top ten in the industry,the proportion of traditional brokerage business income to the total income has always been high,if Z securities company wants to achieve the goal of entering the top five in the industry in terms of comprehensive competitiveness by 2023,vigorously develop wealth management business is necessary.This article takes Z Securities Company as the research object,using the PEST model and Porter’s Five-Forces model to analyze the external environment of Z Securities.The analysis of the external environment shows that the Z Securities faces opportunities including the economic trend of China is good,the percapita income level and education level is has been continuously improved,wealth management demand is increased,the law is more perfect,deepening reform of capital market.Also Z Securities faces threats such as fierce competition in this industry,the commercial banks,internet companies and foreign securities developed rapidly,the reduction in investor switching costs.By using the company’s value chain to analyze the internal environment of Z Securities,it is concluded that Z securities has the advantages of abundant capital,well managed,management attaches importance to the transformation of wealth management business,relatively perfect production system,perfect performance appraisal system and training process,competitive salary and reward system,numerous reasonably distributed branches,outstanding offline marketing services,attach importance to innovation and financial technology development,industry leading system R&D,process optimization,operation platform and cooperation Platform.Also Z securities has the disadvantages of insufficient number of securities investment advisers,insufficient IT staff,financial technology level is not competitive,homogenization of products and services,professional customer service level.and richness are not competitive,the development of internet marketing is relatively poor.In the end,by using QSPM matrix analysis,this article finally determines the differentiation as the competitive strategic choice of Z securities wealth management business,which is embodied in product differentiation,service differentiation and channel differentiation.And this article proposes Z securities should improving the corporate culture by enrich corporate culture activities,improve corporate culture consensus,and establish corporate culture mechanism;improving human resource management by improving the staff training system,strengthening the construction of wealth consulting team,and improving the salary and reward system;strengthening and promoting scientific and technological innovation by increase investment in financial technology,establish financial technology subsidiaries,build a product manager team,build a digital wealth management system,and improve the security of the trading system.and this article proposes to use balanced scorecard for strategic control.The implementation of the above measures is expected to help Z securities company’s wealth management business take the lead in the industry.