2018年，资产管理新规由我国人民银行、证监会、银保监会以及外汇局联合发布。随后券商的资管业务规模以及收入在之后的几年就呈现结构性下降的趋势；同时券商增量业务的开发在《资管新规》下也难以开展，所以业务扩张在某种程度上受到管理模式的限制，这就对券商的财富管理提出了更高的要求。那么在资管新规的指引下如何能够实现财富管理业务产能的大幅度提升，以及财富管理业务如何从被动管理调整成为主动管理并且能率先抢占市场先机，成为券商财富管理业务创新转型着重研究的问题。本文首先对财富管理的概念和基础理论做了简要介绍，从证券公司的财富管理现状出发，分别就券商资管业务的产品类型、投资策略和资金来源三个层面进行分析，同时也对其他金融机构的财富管理业务进行简要的概述；其次分析了《资管新规》背景下各类金融机构的财富管理面临的机遇与挑战；最后通过对K证券公司财富管理业务的深入研究，运用PEST总结分析《资管新规》对于整体金融市场的具体影响。通过SWOT数据分析得到在《资管新规》背景下K券商财富管理业务面临的机遇与挑战如下：第一方面是二级市场屡创近年新低，市场环境较差，第二方面是证券机构业务的同质化问题，严重缺少差异化和多元化，券商机构之间业务竞争激烈。同时本文针对K券商财富管理业务发展也进行实证分析，明确了应该采用差异化、高质量的财富管理模式。具体管理思路为：（1）基于客户市场，差异化打造财富管理中心（2）打造智能科技平台（3）搭建专业团队，丰富产品配置功能（4）转变发展理念，完善风险流程，凸显主营品牌优势。文章最后结合《资管新规》对于当前券商做财富管理的影响，针对券商做财富管理的创新转型提出三个主要发展方向：（1）要善于抓住居民日益增长的财富管理需求，将业务做到个性化，将产品做出差异化，提升主动管理的能力，并充分利用多条线交叉营销的优势，打造自身特色的品牌效应。（2）要注重科技IT方面的建设，了解客户需求并建立完善的新技术运营平台，辅助财富管理业务更加便捷、人性化的发展。（3）要按照各级监管部门的要求，切实建立健全的合规风控制度与业务监管流程，为今后财富管理业务的创新和发展，奠定坚实的基础。
It is known that the New Asset Management Regulations were jointly issued in 2018, with the participation of PBC, the Banking & Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange. After that, the?scale and income of the asset management business of securities companies showed a structural decline in the following years; At the same time, the development of the incremental business of securities companies is also difficult to carry out because of the New Provisions on Asset Management, so business expansion is limited by the management model to some extent, which looks forward to higher requirements for the wealth management of securities companies. Then, under the guidance of the new regulations, how to achieve a substantial improvement in wealth management business, how to transform the wealth management business from passive management to active management and how to take the lead in seizing market opportunities have become a key research issue in the innovation and transformation of securities companies‘ wealth management business.This paper first briefly introduces the concept and basic theory of wealth management, starting from the current situation of wealth management of securities companies, as well as analyzing the product types, investment strategies and sources of funds of securities companies‘ asset management business, and it also briefly outlines?the wealth management business of other financial institutions.?Secondly, it analyzes the opportunities and challenges faced by wealth management of various financial institutions under the background of the New Asset Management Rules; Finally, through the in-depth study of the wealth management business of K Security Company, the specific impact of the New Asset Management Regulations on the overall financial market is analyzed by PEST. Meanwhile, through SWOT data analysis, the opportunities and challenges faced by the wealth management business of K security company under the background of the New Asset Management Rules are as follows: on the one hand, the secondary market has repeatedly hit new lows in recent years, and the market environment is poor; on the other hand, the securities industry itself has long had the problem of homogenization, fierce competition among securities companies, and lack of differentiation and characteristics. At the same time, this paper also conducts an empirical analysis of the development of the wealth management business of K brokers, and clarifies that a differentiated and high-quality wealth management model should be adopted. The specific management ideas are: (1) based on the customer market, differentiated wealth management center (2) an intelligent technology platform is needed (3) build a professional team and enrich product configuration functions (4) change the development concept, improve the risk process, highlight the main brand advantages.Finally, combined with the impact of the "New Regulations on Asset Management" on the current wealth management of securities companies, three main development directions are put forward for the innovative transformation of securities companies to do wealth management: (1) It is necessary to be good at grasping the growing wealth management needs of residents, personalize the business, differentiate products, enhance the ability of active management, and make full use of the advantages of multi-line cross-marketing to create their own brand effects. (2) It is necessary to pay attention to the construction of science and technology IT, understand customer needs and establish a sound new technology operation platform to assist the more convenient?and customizable development of wealth management business. (3) In?accordance with the requirements of regulatory departments at all levels, we should effectively establish and improve the compliance risk control system and business supervision process, so as to lay a solid foundation for the innovation and development of wealth management business in the future.
