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  本文關(guān)鍵詞： 經(jīng)紀業(yè)務(wù) 服務(wù)模式 轉(zhuǎn)型 投資顧問　出處：《西南財經(jīng)大學》2013年碩士論文　論文類型：學位論文

【摘要】：經(jīng)紀業(yè)務(wù)向來是我國券商的重要收入來源,但從2008年開始,券商經(jīng)紀業(yè)務(wù)出現(xiàn)了全行業(yè)的下滑,其原因主要在于券商向投資者提供的是同質(zhì)化、通道式的服務(wù)。券商大都以提供交易通道,通過向客戶收取傭金作為自己收入的主要來源,如此,券商的命運與市場的波動息息相關(guān),形成了靠天吃飯的尷尬局面,在浮動傭金制的大背景下,這樣的券商競爭必然轉(zhuǎn)化為低水平的傭金打折競爭,結(jié)果通過價格競爭,券商以犧牲自己的利潤來獲得競爭優(yōu)勢。傭金水平和行情高度相關(guān),利潤下滑是這樣低水平競爭的必然結(jié)果。 近年來隨著證券行業(yè)對外開放的速度加快,產(chǎn)品和服務(wù)的不斷創(chuàng)新以及客戶投資理念和交易行為的變化,大多數(shù)券商都已經(jīng)意識到經(jīng)紀業(yè)務(wù)需要轉(zhuǎn)型的必要,已開始并正在做一些有益的探索,但是可以說目前尚沒有哪家券商形成了類似美林、或者愛德華.瓊斯那樣在各種不同的經(jīng)濟環(huán)境之下,皆能夠持續(xù)的盈利模式。本文試圖通過比較研究的方法,結(jié)合目前國內(nèi)券商經(jīng)紀業(yè)務(wù)的現(xiàn)狀,通過比較和研究成熟的北美證券業(yè)務(wù)的多年經(jīng)驗(特別是自由傭金后的經(jīng)驗)來探索我國券商可能的轉(zhuǎn)型方式、方法。提出券商應(yīng)走出對單一通道傭金收入的依賴,逐步將券商的經(jīng)紀業(yè)務(wù)收入轉(zhuǎn)向以顧問咨詢服務(wù)、理財服務(wù)為主,并逐步的提高服務(wù)收費等非交易通道收入占營業(yè)收入中的比例。本文結(jié)合筆者現(xiàn)在所在的萬聯(lián)證券經(jīng)紀業(yè)務(wù)的現(xiàn)狀和存在的問題,并進行分析,重點探索了作為證券公司的經(jīng)紀業(yè)務(wù)分支機構(gòu)的證券營業(yè)部層面,以投資顧問服務(wù)提升券商經(jīng)紀業(yè)務(wù)的水準,同時,將投資顧問服務(wù)和營銷相結(jié)合,以證券營業(yè)部層面直接面對客戶和了解客戶為優(yōu)勢,真正以客戶為中心而不再是以交易通道和沒有針對性的低層次咨詢的服務(wù)為重點。券商應(yīng)該以“與客戶共同成長”作為自己的長遠目標和規(guī)劃,避免飲鳩止渴,竭澤而漁的經(jīng)營模式。同時,在證券創(chuàng)新步伐不斷加快的今天,券商總公司層面應(yīng)在做好自己業(yè)務(wù)模式和盈利模式的戰(zhàn)略定位以適應(yīng)新形勢,要么將自身塑造成折扣型券商---以輕型營業(yè)部為主,要么以提供全面理財服務(wù)為主的綜合型券商—提供增值型服務(wù)以中高端客戶為主。只有做出特色,適應(yīng)投資者需要的公司才有可能通過轉(zhuǎn)型獲得“新生”。
[Abstract]:Brokerage business has always been an important source of income for Chinese securities companies, but since 2008, brokerage business has declined in the whole industry, the main reason is that the securities companies provide investors with the same quality. Most securities companies provide trading channels through the collection of commissions as their main source of income, so the fate of securities companies and market fluctuations are closely linked. In the background of floating commission system, this kind of brokerage competition must be transformed into low level commission discount competition, and the result is price competition. Brokerage firms gain a competitive advantage at the expense of their profits. Commissions are highly correlated with the market, and falling profits are a corollary of such low levels of competition. In recent years, with the speed of the securities industry opening to the outside world, the continuous innovation of products and services, as well as the changes in customer investment concepts and trading behavior, most securities firms have realized the need for the transformation of brokerage business. Some useful exploration has begun and is under way, but it is fair to say that no brokerage has yet formed a Merrill Lynch, or Edward Jones, in a variety of different economic circumstances. This paper tries to combine the current situation of domestic securities brokerage business through the method of comparative study. Through the comparison and study of the mature North American securities business experience (especially after the experience of free commission) to explore the possible transformation of Chinese securities companies. Methods. It is suggested that securities firms should step out of the dependence on the commission income of a single channel and gradually turn their brokerage business income to advisory services and financial services. And gradually improve the service fees and other non-trading channel revenue in the proportion of operating income. This article combined with the author's current situation and existing problems of the securities brokerage business, and analysis. As the brokerage business branch of the securities companies, the securities business department level, investment advisory services to improve the level of brokerage business, at the same time, investment advisory services and marketing. To the securities sales department level directly facing customers and understanding customers for the advantage. The real customer-centered rather than trading channels and no targeted low-level advisory services as the focus. Brokers should take "grow with customers" as their long-term goal and plan to avoid drinking doves to quench thirst. At the same time, at the same time, in the securities innovation pace of accelerating today, the head office of securities companies should do their own business model and profit model strategic positioning in order to adapt to the new situation. Either to shape itself as a discount brokerage-to light business mainly, or to provide comprehensive financial services to provide value-added services to high-end customers. Only to make the characteristics. Companies that adapt to the needs of investors are likely to be "reborn" through transformation.
【學位授予單位】：西南財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.51

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本文編號：1450420