当前，金融科技已经是我国金融业发展历程中一个重要的因素。国家、金融 行业监管机构、国内外学者、媒体、商业银行、证券金融机构都纷纷将目光聚焦 于金融科技。金融稳定理事会（FSB）将金融科技定义为一种金融创新，其是由技 术带来的，金融科技能够创造新的业务流程、业务应用、业务模式或产品，并对 金融市场、金融机构或金融服务的提供方式产生重大影响。国内学者易宪容将金 融科技定义为通过网络数字化的技术，整合金融数据，实现金融数据共享，从而 实现金融服务的智能化、普惠化等，是一种金融服务新业态。 以大数据、人工智能等为代表的金融科技，实现了金融行业相关金融业务、 金融服务、金融产品、金融流程的创新。在金融科技快速发展下，对国内证券经 营机构的传统证券经纪业务产生了巨大的影响。目前金融科技在推动证券经营机 构证券经纪业务向数字财富管理方向发展的同时，随着金融科技发展产生的大量 金融科技公司也分流了一部分证券经营机构的理财业务。从长远来看，这些金融 科技公司会对国内证券经营机构造成严重威胁。另外，近年来国内证券业佣金率 不断下滑，给证券公司的传统经营模式带来了巨大的压力，与此同时，国内财富 管理市场却得到了快速发展。在此背景下，国内证券公司纷纷向财富管理和综合 金融服务商转型。金融科技则成为推动证券公司向数字财富管理方向发展的重要 技术力量。本文以Z证券公司为例，通过文献研究、数据分析、对比分析等方法， 详细分析了Z证券公司利用金融科技发展数字财富管理的宏观环境、发展现状、 存在的问题以及提升策略。具体来说，首先概述了Z证券公司数字财富管理的背 景以及国内外金融科技研究现状，其次分析了数字财富管理的相关宏观环境、国 内证券公司数字财富管理现状以及Z证券公司利用金融科技发展数字财富管理概 况；利用对比分析法分析比较Z证券公司和国内其它证券公司在数字财富管理上 所存在的差距，从而指出Z证券公司在数字财富管理上所存在的问题。同时在分 析国内外数字财富管理的基础上，也对Z证券公司利用金融科技推动数字财富管 理发展提出了相关改进建议。 本文通过对Z证券公司的数字财富管理研究，希望构建出能够适合该公司利 用金融科技推动数字财富管理发展的路径。同时，也可以作为行业内其他证券公 司数字财富管理发展的参考。 关键词：证券公司；金融科技；数字财富管理 湖 北 工 业 大 学 工 程 硕 士 学 位 论 文 II Abstract At present, Fintech has become an important factor in the development of my country's financial industry. The state, financial industry regulatory agencies, domestic and foreign scholars, media, commercial banks, and securities and financial institutions have all focused their attention on Fintech. The Financial Stability Board (FSB) defines fintech as a kind of financial innovation, which is brought about by technology. Fintech can create new business processes, business applications, business models or products, and the way in which financial services are provided has a major impact. Domestic scholar Yi xianrong defines Fintech as a technology that digitizes through the network, integrates financial data, and realizes the sharing of financial data, so as to realize the intelligentization and inclusiveness of financial services. It is a new format of financial services. Fintech represented by big data, artificial intelligence, etc. has realized the innovation of related financial business, financial services, financial products, and financial processes in the financial industry. With the rapid development of fintech, the traditional securities brokerage business of domestic securities operating institutions has emerged. Had a huge impact. At present, while fintech is promoting the development of the securities brokerage business of securities operating institutions to the direction of digital wealth management, a large number of fintech companies with the development of fintech have also diverted the wealth management business of some securities operating institutions. In the long run, these fintech companies will pose a serious threat to domestic securities institutions. In addition, the commission rate of the domestic securities industry has been declining in recent years, which has put tremendous pressure on the traditional business models of securities companies. At the same time, the domestic wealth management market has developed rapidly. Under this background, domestic securities companies have transformed into wealth management and integrated financial service providers. Fintech has become an important technical force to promote the development of securities companies towards digital wealth management. This article takes Z Securities Company as an example, through literature research, data analysis, comparative analysis and other methods to analyze in detail the macro environment, development status, existing problems and improvement strategies of Z Securities Company using fintech to develop digital wealth management. Specifically, it first outlines the background of Z Securities’ digital wealth management and the current status of financial technology research at home and abroad, and secondly analyzes the relevant macro environment of digital wealth management, the status of digital wealth management of domestic securities companies, and Z Securities’ use of fintech to develop digital Wealth management overview; use comparative analysis to analyze and compare the gaps in digital wealth management between Z Securities and other domestic securities companies, thereby pointing out the problems with Z Securities in 湖 北 工 业 大 学 工 程 硕 士 学 位 论 文 III digital wealth management; and analyzing digital wealth at home and abroad On the basis of management, Z Securities also put forward relevant improvement suggestions for the use of fintech to promote the development of digital wealth management. Through the research of Z Securities Company's digital wealth management, this paper hopes to construct a path suitable for the company to use fintech to promote the development of digital wealth management. At the same time, it can also be used as a reference for the development of digital wealth management of other securities companies in the industry. Key words: securities company; Fintech; digital wealth management 湖 北 工 业 大 学 工 程 硕 士 学 位 论 文 IV 目 录 摘要 ....................................................... I Abstract ...................................................... II 第1章 绪论 .................................................... 1 1.1 研究背景 ................................................... 1 1.2 研究目的与意义 ............................................. 2 1.2.1 研究目的 ............................................ 2 1.2.2 研究意义 ............................................ 3 1.3 国内外文献综述 ............................................. 4 1.3.1 国外研究现状 ........................................ 4 1.3.2 国内研究现状 ........................................ 5 1.4 研究思路与可能创新点 ....................................... 8 1.4.1 研究思路 ............................................ 8 1.4.2 研究内容 ............................................ 8 1.4.3 创新与不足之处 ...................................... 9 第2章 相关概念和理论基础 ...................................... 10 2.1 金融科技概念 .............................................. 10 2.2 数字财富管理概念 .......................................... 10 2.3 数字财富管理主要理论 ...................................... 11 2.3.1 现代资产组合理论 ................................... 11 2.3.2 长尾理论 ........................................... 11 2.3.3 4C营销理论 ......................................... 12 2.3.4 大数据理论 ......................................... 12 第3章 证券公司数字财富管理环境分析 ............................ 13 3.1证券公司数字财富管理宏观环境分析 .......................... 13 3.1.1 政策环境 ........................................... 13 3.1.2 经济环境 ........................................... 13 3.1.3 社会环境 ........................................... 16 湖 北 工 业 大 学 工 程 硕 士 学 位 论 文 V 3.1.4 技术环境 ........................................... 16 3.2 证券公司数字财富管理行业内部发展环境分析 .................. 17 3.2.1 证券行业发展规模扩大 ............................... 17 3.2.2 证券行业集中度上升 ................................. 18 3.2.3 证券行业重视金融科技利用 .................