以問卷分析法探討證券商財富管理業務對銀行之影響

Abstract

臺灣近年來受到全球金融風暴與經濟衰退的影響，使得證券市場面臨結構性質變，例如失去動能、資本市場成長趨緩、經紀交易量停滯不前、經紀業務相關交易手續費率因競爭激烈下滑、證券融資餘額大幅萎縮與法人成交比逐年提高，再加上國內資金嚴重外流，使證券商獲利表現呈現疲態。然而主管機關日漸開放證券業辦理財富管理業務，財富管理成為證券商的新藍海之一，透過統計資料發現近年來臺灣信託市場規模呈現日漸增長之趨勢，銀行業與證券業個別也是呈現增長趨勢，證券業於2014年後呈現顯著的成長，雖證券業在信託規模下相較於銀行小，但兩者在財富管理業務上存在差異性，因此本文獻試圖了解證券商與銀行的差異性，以及證券商承辦財富管理業務對銀行之影響。透過過去文獻整理與研究心得，將證券業與銀行業在財富管理的差異性區分為五大層面：客戶層面、人員層面、產品層面、通路與業務推廣能力層面與未來法規開放層面，並對現今於金融產業服務之業務經理(含)以上之金融從業人員進行訪談。 調查結果在客戶區隔性上，銀行業從業人員認為較有區隔，證券業從業人員認為區隔不大，在客戶之競爭程度與客戶開發與管理維護之優劣性上普遍認為銀行業在財富管理之業務上小幅度的優於證券業，然而當時間拉長至3年後，受訪者認為銀行業仍會小幅優於證券業，但差距會逐漸減少。在服務人員專業程度之差異性上，普遍認為銀行業在財富管理之業務上小幅度的優於證券業。在商品種類與多樣化之差異性，銀行業從業人員認為在商品多樣化上銀行小幅優於證券業，證券商則位於沒有區別與證券業小幅優於銀行業之間。在通路與業務推廣能力之優劣上，普遍認為銀行小幅優於證劵業，然而在客戶資產與資源上銀行從業人員認為銀行會小幅優於證券業，而證券業從業人員則認為沒有區別。主管機關持續開放證券商經營財富管理業務對銀行的衝擊性上，整體而言認為會對銀行業造成相當之衝擊。在優勢與機會上，受訪者認為雖然證券業發展優勢普通，但仍存在一些發展機會，在未來發展的角色上，證券商與銀行整體而言扮演的仍是相互競爭的角色，且有一定的競爭程度，亦有從業人員認為兩者間角色互補，能夠使市場做大，因而造成標準差較高。

Due to the global financial crisis and economic recession in recent years, the stock market of Taiwan has lost momentum. Facing with the difficulties of stagnant brokerage trading volume and the trading proportion of Institutional Investors increasing gradually, the securities companies are trying to seek out some new blue ocean market. Recently the Financial Supervisory Commission has loosened restrictions on the securities companies of wealth management business that helping the securities companies have a chance to access to the wealth management market. However, there might be some effects of introducing wealth management to the securities companies on Banking. Classifying five different degrees between the securities companies and banking, we try to figure out the effects of introducing wealth management to the securities companies on Banking based on these differences. We design our questionnaire according to the literature. We also interview financial practitioners whose position is above business manager. After collecting questionnaire, we do some statistical analysis and try to explanation the viewpoint of participants in this survey. In the segment of customers, bankers believe there is a segment between the customers of wealth management, however, securities practitioners think there is no segment. In the degree of competition in the customer and the maintenance and development of customers, generally believe that the banking sector in the wealth management business has a small magnitude than the securities companies. However, the magnitude will become smaller after three years. In the professional level of the staff differences, generally considered that he banking sector in the wealth management business has a small magnitude than the securities companies. In the commodities level, bankers believe that the banking sector in the wealth management business has a small magnitude than the securities companies. However, securities practitioners there is no differences. In marketing channel and the promoting ability of business, generally believe that the banking sector has a small magnitude. They also consider that it will cause some impacts to banking when the authority loosen restrictions on the securities company. On the role of the securities company and banking is still playing the role of competition in the future and there is a certain degree of competition between the two of them. However, some securities practitioners believe that Introducing Wealth Management to the Securities Companies can make the market bigger.