券商经纪业务谋转型 广发实践投顾业务（GF Securities brokerage business restructuring plan investment business practice）

券商经纪业务谋转型 广发实践投顾业务（GF Securities brokerage business restructuring plan investment business practice） 券商经纪业务谋转型 广发实践投顾业务(GF Securities brokerage business restructuring plan investment business practice) December 10, 2010 22:09 source: China Times: Blue Shu welcome to comment number: 0 are business people called "coupon Interim Provisions on the securities investment advisory business history documents" "(hereinafter referred to as the" Interim Provisions ") will be formally started in January 1, 2011. To see the dawn of hope China brokerage firms, brokerage firms Chinese type problem for 20 years is expected to restore justice, by way of investment consulting business to get rid of the homogenization of malignant Commission war shadow, which has taken a big step in the transformation of the traditional brokerage business. Investment advisory fees right and proper securities, the "Interim Provisions" means to the Dongfeng brokerage in the most profitable in the future "wealth management" in the field of policy. "Chinese type wealth management for high net worth crowd" has just started, according to Boston consulting data, 2010 China household disposable wealth amounted to $16 trillion and 500 billion, after the United States to become Japan's biggest wealth in third countries. This piece of cake in the oven exudes seductive fragrance, financial institutions eager for a fight. The private bank, PE, VC and trust have resorted to win customers like Wu Yi eighteen. Relatively speaking, the brokerage is the "successor" has no direction, "we must prepare" to GF Securities (000776, shares) as the representative of a number of firms have taken the "wealth management center" mode of exploration. Steel tycoon abandoned steel forced private enterprises to exit from domestic trouble and foreign invasion of new regulations inhibit the Ministry of housing rent China October holdings of U.S. debt of $23 billion 300 million the Ministry of Commerce: the real estate is not equal to the absorption of foreign hot money India will sign the $16 billion contract the mint enterprises large-scale recruitment of only the super rich could afford to eat food (Figure) Chen Zhiwu: let the goods zero profit pricing is too absurd to revolutionary machine Since 2010, climate adjustment continued for more than six months of the traditional profit model of brokerage in a corner, since 2008, the Commission of war in 2010 to combat even more tragic interpretation. A broker who had to fight the door of the grab and poaching hand; complain incessantly trading on the A stock market, the first half of the total year-on-year increase of 2.1%, but net profit of 106 brokerages have dropped 33.08%. Margin, futures and other innovative business although to the broker brings a new source of income, but subject to the initial stage of exploration and policy barriers on the broker's profit contribution is still very modest. From Haitong, gf and other listed brokerage semi annual report, the overall level of 3% are less. Brokerage business still accounts for half of the revenue and profits of brokerages. Institutional defects of homogenization of the business model and brokerage income sources almost makes the brokerage industry once again facing a crisis, the background of the Commission issued the "securities investment advisory business Interim Provisions" by the brokerage industry called "historical documents". It means that securities firms can charge customers for value-added services, which means a revolutionary turnaround for brokers". In this regard, GF Securities President Dr. Li Jianyong deep feeling, he believes that this will allow brokers to provide customers with investment planning and recommendations of the interests of the original motivation to produce fundamental changes, "for example.", Our business department for a number of large customers today offers the suggestion that these suggestions may suggest tomorrow, professional level is very high, we also do a lot of investment, but if the customer is not trading, the business department will have no income, it is equal to the effort and labor all in vain ", this is difficult to avoid, customers quick charging mode don't trust a variety of drawbacks. Li Jianyong said, from a deeper point of view, the investment adviser fee model is really competition broker service level, build brokerage service brand opportunities. He believes that the brokerage business from the channel fee model to consultancy service transformation, has become a future trend of the development of securities business. In fact, during the Commission war. Family wealth management market opportunities and other industry bodies staking has made some brokers spontaneously awaken, the "28 laws" in common which including banks, funds, PE, VC, trust and other agencies have aimed at the household disposable assets of more than $1 million in high net worth population, brokerage is a relative later. As deputy general manager of CIC Xie evaluation, "PE, VC, private equity, trust will have disposable assets of more than $1 million in personal account in the past a lot of, there is no direction of brokerage". The cake in the oven of the broker In addition, the reporter was informed that, including CITIC, Guoxin, investment and other major brokerage firms are trying and groping, including wealth management clubs, investment advisory groups and other wealth management path. Some small and medium-sized brokerage firms have begun a journey of trial, and the objectives of the securities brokers seem to be consistent. They are providing professional services such as listing financing, financial advisory and investment management for the "high net worth crowd". This initial market gives them plenty of room for imagination. Li Jianyong said Chinese the future potential of the wealth management market in the initial stage of the securities, is still a "oven cake", flavor is very attractive, the broker to smoothly eat it "process is very difficult". In the initial stage of China's financial market, Li Jianyong admitted that GF is still in the exploratory stage, rich population needs to be developed and nurtured, wealth management concept is immature. For brokers, the key is "how to let people give money to us at ease, I believe we have this ability, better than his own care."". He told a story of his own, an entrepreneur friend had asked him how to take care of their own accounts have been sleeping in the private savings, the amount of money for this private savings is 6 hundred million. "There's still a lot of trouble, but we have to get ready.". I find that when the market is surging, if we are not prepared, we can only watch others eat." Xie Ping believes that compared to Europe and the United States mature financial markets and mechanisms, China's family wealth management is still in the initial stage of development, financial institutions also have a long way to explore. At present, the level and ability of financial management of institutions are largely restricted by the current pattern of separate supervision. The challenges and tests are only just beginning for institutions eager to tap into the field of wealth management. As a matter of fact, Xie Ping's restrictions on separate management and supervision also restrict the institutions' ability to manage their finances, such as the introduction of private financial services by banks, But most of them are limited to the cash account management; fund investment while making the financial more popular, but the income is not ideal, still can not enter the equity investment or direct field; flexible operation of the PE and VC are faced with the construction process of the integrity of the market. From the theoretical point of view, the brokerage investment adviser model cut "wealth management" in the future seems to be in direct investment, equity investment, investment management and other fields to display more space, also has a fully competitive advantage expected return. But brokers in the long road of exploration is still full of challenges and challenges, in the wealth management on the road groping 5 years of GF, even so, other brokerages longer journey.