A Study On Optimization Scheme Of FZ Securities Sichuan Business Department Wealth Management Transformation Implementation

Since 2008,the commission rate war has been raging among Chinese securities firms,with commission rates dropping from the initial no less than 0.3% to below 0.1%,and further to the current 0.015%.The sharp decline in commission rates signifies a decreasing proportion of commission income in securities firms’ total revenues,making it difficult for them to rely on traditional brokerage business for profitability.They urgently need to explore new profit growth points.As domestic and international capital markets continue to develop,residents have more disposable wealth and their demand for wealth preservation and appreciation increases.Facing the blue ocean of wealth management and the predicament of traditional brokerage business,major domestic securities firms have accelerated their transition to wealth management.Starting in 2014,FZ Securities began to shift towards wealth management.After more than seven years of organizational transformation and business restructuring,FZ Securities has achieved a preliminary transformation.However,during the process of fully implementing the wealth management transformation,some branches experienced a polarization.Some regional branches transformed rapidly and had successful business implementation,while others,such as the Sichuan branch,lagged behind,making it difficult for the business to break through.It is urgent to explore the reasons for the slow transformation and propose corresponding countermeasures to accelerate the transformation.This paper aims to explore the reasons for the slow wealth management transformation of FZ Securities’ Sichuan branch from multiple dimensions such as corporate positioning,work atmosphere,individual employee incentives,business management,and corporate culture.It proposes strategies and plans to accelerate the branch’s wealth management transformation.By reviewing literature materials,collecting branch business situations and data,and conducting an initial analysis of the reasons for the slow wealth management transformation of the Sichuan branch using the BurkeLitwin organizational model.Subsequently,through interviews with the branch management and questionnaires for front-line employees,statistical analysis tools were used to identify the main factors affecting the speed of the Sichuan branch’s wealth management transformation.Based on the above research,it was found that the FZ Securities Sichuan Branch had an inaccurate enterprise positioning and did not identify a development strategy that matched its own situation,which led to a slow transformation.At the same time,the management was not adequate,as the branch failed to adjust its internal organizational structure and resource integration,nor did it promote daily management,performance evaluation,and incentive systems for wealth management business.This delayed the progress of the transformation.In addition,the lack of a positive work atmosphere resulted in employees having either too comfortable or too anxious of a mental state,which affected the speed of the branch’s transformation.Furthermore,the branch failed to instill the company’s corporate culture into the hearts of its employees,which could not provide employees with intrinsic motivation.Based on the research results and analysis,this paper proposes solutions to the problems in enterprise positioning,management,work atmosphere,and corporate culture.It is expected that a series of measures will be implemented to accelerate the progress of FZ Securities Sichuan Branch’s wealth management transformation,ultimately achieving the sustainable development of the company and branch,keeping pace with the times.