Z Securities Wealth Management Service Development Strategy Research

Along with the development of our economy,residents can increase their disposable income,gradually improve their awareness of financial management,and the demand for wealth management grows significantly.At the same time,brokerages are faced with two competitive pressures:on the one hand,with the continuous decline of commission rate,the competition within the securities industry intensifies;On the other hand,banks and third-party wealth management institutions occupy the top position of wealth management capacity and holdings.In recent years,the securities industry has continued to promote the transformation of wealth management,from seller investment to buyer investment,from product-centric to customercentric.However,in the process of transformation,it is faced with many problems such as serious product homogeneity and insufficient customer channels.Taking Z Securities as an example,this paper analyzes the specific problems it has encountered in the development of wealth management business and puts forward solutions to implement differentiated competition strategy,which can provide reference for other securities firms.As one of the leading securities firms,Z Securities has advantages such as strong comprehensive strength,good brand reputation,large customer base,multiple business outlets and strong information technology,but it also has weaknesses such as serious product homogeneity,inadequate customer segmentation and imperfect performance assessment.Under the background of wealth management transformation,how to break through among many securities firms and even compete with banks and third-party institutions that rank first in wealth management ability is an urgent problem for Z securities.By using PEST analysis tool and Porter’s Five Forces analysis model,this paper finds that Z securities is currently faced with opportunities such as overall economic improvement,continuous increase of individual investable scale,continuous improvement of financial market laws and regulations,in-depth enabling wealth management of financial technology,and continuous emergence of financial innovative products.At the same time,it also faces threats such as serious homogeneity of products and services,intensifying industry competition,continuous entry of foreign investment banks,the dominant position of banks and the continuous power of third-party wealth management institutions,etc.,and differentiated competition routes are given through SWOT analysis.In order to verify that differentiation strategy is the optimal solution,questionnaire survey was conducted to calculate the degree of attraction of each factor to cost leadership strategy,differentiation strategy and centralization strategy,and quantitative strategic plan matrix was constructed for analysis.The optimal strategic path,namely differentiation strategy,was obtained from the three competitive strategies.By referring to advanced wealth management experience at home and abroad,and combining its own advantages and disadvantages,it puts forward specific implementation paths,namely,differentiation of financial products,differentiation of investment services,differentiation of channels and systematization of customer management.On this basis,it puts forward the safeguard measures for the development strategy of wealth management business,namely,optimize the organizational structure,improve the guarantee of human resources,enhance the operation capacity,increase the scientific and technological capabilities and strengthen the construction of risk management.