摘要
摘要
2021年为国家十四五规划开局之年，在全球经贸规则博弈日趋激烈，疫情导致
国际经贸合作壁垒持续增加的大背景下，中国积极构建“双循环”新发展格局，经济
稳步复苏增长。与此同时，国家加快金融体制改革和市场开放，资本市场先后推出新
证券法、公募 REITS基金、放开外资准入等多项举措，2022年 1月，《关于规范金融
机构资产管理业务的指导意见》进入全面实施阶段，理财产品净值化管理步伐加快，
中国金融发展格局迈入新的历史进程。伴随大数据、人工智能等金融科技应用的快速
发展，新发展格局下的券商行业面临着全新的挑战和机遇，财富管理业务逐渐成为券
商新的利润增长点和核心竞争力。
论文正是在我国经济稳步复苏增长、国民财富不断增加、资本市场对外开放、金
融科技高速发展的背景下，根据传统财富管理的内涵外延重新构建券商行业财富管理
业务范畴，深入探讨券商当前核心业务——“财富管理业务”发展的内外部环境及战
略方向，以中小型券商代表 H证券公司为研究对象，借鉴国内外券商的财富管理经
验，结合公司财富管理业务发展现状，对 H证券公司财富管理业务发展所面临的外
部环境、机遇挑战以及自身优劣势进行分析，以 PEST、波特 5力及 SWOT模型为工
具，提出发挥核心业务优势、依托集团联动、加强区域品牌建设、科技赋能优化平台
运营、开展三方合作等差异化竞争战略及强化业务体系搭建、完善考核激励机制、加
快科技赋能等具体保障措施。
关键词：证券公司财富管理业务差异化竞争战略
I
Abstract
Abstract
2021 is the first year of the fourteenth Five-Year Plan of China, Against the backgroud
of increasingly intense about the rules of the global economic and the backdrop of the
barriers to international trade and economic cooperation by the outbreak. China actively
builded a new development pattern of "binary", achieved steady recovery and growth.
At the same time, the state has accelerated reform of the financial system and the
opening-up of market. The capital market has undergone a number of measures of
reformation, including therevision of securities law, pilotpublic REITS fundand
abolishment of the shareholding limits for foreign securities firms. In January 2022, the
new asset management regulations entered the full implementation stage, the pace of
net-worthmanagement ofwealthmanagement productsaccelerated,the financial
development pattern entered a new process.
In addition, the ever-developing technology of big data and artificial intelligence has
been widely used among the financial market, which led to both new opportunities and
severe challenges to the development of financial industry. Wealth management business
has become a new profit growth point and core competitiveness of the brokerage industry.
Under the background of steady economic recovery and growth, continuous increase
of national wealth, opening of capital market and rapid development of fintech, this article
reconstructs the scope of wealth management of securities companies according to the
connotation and extension of traditional wealth management, taking H Securities Company,
a representative of small and medium-sized securities companies, as the research object.
Take the wealth of management experience from Brokers at home and abroad for reference,
by means of PEST, SWOT, Poter 5 force model, the H faced in the development of wealth
management business of securities companies external environment, the opportunities
challenges as well as their advantages and disadvantages were analyzed, and finds out a set
of differentiated competition strategies such as focusing on core business, relying on group
linkage, strengthening regional brand building, enabling technology to optimize platform
operation,carrying outthird-party cooperationandimplementation planssuchas
strengthening business system building, improving assessment and incentive mechanism,
and accelerating technology empowerment.
Keywords: Security Company, Wealth management business, Differentiated
competitive strategy
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目录
目录
摘要......................I
Abstract.................II
第一章绪论..............1
1.1研究背景..............2
1.2研究意义..............5
1.2.1理论意义..................5
1.2.2实践意义..................6
1.3文献综述..............6
1.3.1国外研究概况.................6
1.3.2国内研究概况.................7
1.3.3文献评述..................8
1.4研究方法与内容................9
1.4.1研究方法..................9
1.4.2研究内容................10
1.5本章小结................... 11
第二章理论概述..................12
2.1财富管理范畴及业务模式............12
2.1.1财富管理范畴...............12
2.1.2财富管理目标...............12
2.1.3国内财富管理机构参与主体............13
2.1.4国内证券公司财富管理业务模式...........14
2.2财富管理相关理论.................16
2.2.1市场细分理论...............16
2.2.2差异化竞争战略理论..........16
2.2.3生命周期理论...............18
2.2.4金融科技理论...............18
2.3本章小结.............18
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