中国证券投资顾问业务发展定位与模式研究

发布时间：2018-04-08 17:07

本文选题：投资顾问　切入点：经营模式　出处：《山东大学》2013年硕士论文

【摘要】：2010年10月12日中国证券监督管理委员会颁布了《证券投资顾问业务暂行规定》,确立了证券投资咨询业务基本制度,新规定的颁布系统性的定义和规范了证券投资顾问业务,更加注重于保护投资者利益。证券投资顾问业务诞生已久,但是此前一直定位模糊、管理混乱。1997年证券投资咨询首次被纳入监管,证券公司和证券投资咨询公司成为从事证券投资咨询业务的两类合法主体。随着我国证券市场的发展,证券投资咨询业务逐渐分化为两类相互区别又相互联系的形式,即证券投资顾问和证券研究报告。与此同时,传统经纪业务同质化严重,证券市场趋向饱和,证券公司在激烈市场竞争下纷纷选择转型,大力发展非通道业务,开拓证券投资顾问业务。《暂行规定》的出台从基本面上对证券投资咨询业务进行了规范,良好的市场秩序造就繁荣的市场交易,许多券商也开始规范公司内部证券投资顾问业务模式。本文首先对理论基础和已有中外文献研究进行了概括介绍,简单回顾了我国证券投资咨询业务的发展历程和现阶段发展状况及存在问题。其次,对证券投资顾问业务的基础理论进行详细论述,分析了证券投资顾问的内涵、类型、价值、监管、业务流程和项目规划。根据《暂行规定》的内容,本文认为应该将证券投资顾问业务监督管理分为外部监管和内部行业自律,这两个方面共同构成证券投资顾问进行项目规划的约束条件,而业务流程的确立和规范又是在项目规划这一宏观层面之下的微观具体实施,这三者存在渐进的递进关系,而项目规划又是具有承前启后、提纲挈领的关键部分,因此本文将重点研究证券投资顾问业务的项目规划领域。再次,简述美国和英国券商财富管理模式及制度建设,对比中国券商现阶段开展投资顾问业务现成经营模式,运用对比论证,希望为中国公司提供借鉴。最后结合我国证券公司投资顾问业务现状和发展趋向,在分析证券投资顾问业务项目规划中各个模块模式的基础上,针对投资顾问业务在协调证券公司总部和营业部资源上时采取怎样的投资顾问团队建设模式做了实证分析,最后综合得出结论并提供了一些关于投资顾问业务各模块经营模式选择的建议,为证券公司未来进行投资顾问业务项目规划提供一些有益的参考。
[Abstract]:On October 12, 2010, the China Securities Regulatory Commission promulgated the "interim regulations on Securities Investment Advisory Business", which established the basic system of securities investment consulting business.More focus on protecting the interests of investors.Securities investment advisory business has been born for a long time, but it has always been ambiguous and management confusion. In 1997, securities investment consulting was first brought into supervision, and securities companies and securities investment consulting firms became two kinds of legal subjects engaged in securities investment consulting business.With the development of China's securities market, the securities investment consulting business is gradually divided into two different and interrelated forms, namely, securities investment advisers and securities research reports.At the same time, the traditional brokerage business is becoming more homogeneous and the securities market tends to be saturated. Under the fierce market competition, securities companies have chosen to transform and vigorously develop non-channel business.The introduction of the "interim provisions" has standardized the securities investment consulting business from a fundamental point of view, and the good market order has created a prosperous market transaction.Many securities firms also began to standardize the company's internal securities investment advisory business model.In this paper, the theoretical basis and the existing literature are introduced, and the development of securities investment consulting business in China is briefly reviewed, as well as the current development situation and existing problems.Secondly, the basic theory of securities investment advisory business is discussed in detail, and the connotation, type, value, supervision, business process and project planning of securities investment adviser are analyzed.According to the content of "interim regulations", this paper holds that the supervision and management of securities investment advisory business should be divided into external supervision and internal industry self-discipline, which together constitute the constraint conditions for securities investment advisers to carry out project planning.The establishment and standardization of business process is the microcosmic concrete implementation under the macro level of project planning. These three have progressive and progressive relations, and project planning is a key part with a link between the past and the future.Therefore, this paper will focus on the project planning area of securities investment advisory business.Thirdly, this paper briefly introduces the wealth management mode and system construction of American and British securities firms, compares the ready-made management mode of investment advisory business between Chinese securities firms at the present stage, and uses comparative demonstration to provide reference for Chinese companies.Finally, according to the current situation and development trend of investment advisory business of securities companies in China, the paper analyzes the models of each module in the project planning of securities investment consultant business.This paper makes an empirical analysis of the investment advisory team building model used in the coordination of the resources of the headquarters and the business department of the securities company.Finally, the conclusion is drawn and some suggestions are provided on the choice of business model of investment advisory business, which provides some useful reference for the future investment advisory business project planning of securities companies.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.5

【参考文献】