Brokerages Discuss Client Segmentation and AI: Moving from 'One-Size-Fits-All' to 'Tailored Services'

As the financial services industry shifts from a "one-size-fits-all" approach to "one-size-fits-one," precision client segmentation and refined operations have become industry consensus. The question now is: how can brokerages of varying sizes and capabilities position themselves in this transformation and build truly differentiated, comprehensive client service solutions?

At the recent 2026 Financial Institutions Annual Conference & Securities Industry Wealth Management Forum, senior executives from four major brokerages shared their insights and practices on capability chains, client segmentation, centralized operations, and AI empowerment. The panel included:

• Tan Xianrong, Vice President of Century Securities
• Qiu Yuqiang, Vice President of Xiangcai Securities
• Li Wanqing, Co-Head of Wealth Management Headquarters, Huatai Securities
• Li Ming, Chief Wealth Officer of Zheshang Securities

What Is the "Game-Changer" in Comprehensive Solutions?

Building a "comprehensive solution" for clients is a systematic project involving multiple links: needs identification, asset allocation, advisory services, back-office operations, and cross-departmental coordination.

Qiu Yuqiang emphasized that institutions cannot rely on any single capability alone. Success depends on the synergy and efficient operation of all capabilities combined.

Drawing from Xiangcai Securities' experience, he elaborated:

• Needs understanding is the starting point of service
• Asset allocation is the core of the solution
• Advisory services serve as the frontline window connecting clients and delivering value
• Back-office operations provide the solid foundation

"The real challenge—and what differentiates institutions—lies in how to organically connect and integrate these capabilities," Qiu said.

Li Wanqing agreed, noting that as capital markets and investors mature, brokerage service models have evolved from single-channel To C services to integrated group-level competition. She identified client insight as the most critical challenge to overcome.

"Securities firms naturally face difficulty understanding their clients, because the assets clients hold with us are often not their total wealth—only a portion of their risk assets," she explained. Traditional KYC questionnaires, she added, struggle to capture genuine client needs.

Huatai Securities is leveraging AI to better understand clients and help them identify their true wealth management needs. "If the first step—positioning—is off, all subsequent matching will be off," Li warned.

Li Ming offered a client-segment perspective, arguing that ordinary clients rarely require comprehensive services. True comprehensive service, she said, should target high-net-worth individuals (HNWIs).

She categorized wealth management into three stages:

1. Product-driven sales stage
2. Asset allocation stage
3. Account service stage

The account service stage involves full-spectrum coverage of personal, family, business, and social needs. Most brokerages, she noted, are still transitioning from stage one to stage two, but AI tools can accelerate this shift.

How AI Helps Institutions Build a Service Closed Loop

AI has become an indispensable efficiency tool in the securities industry. Panelists shared how they are using AI to create a closed loop from client insight to asset allocation to service delivery.

Qiu Yuqiang introduced Xiangcai Securities' AI-powered ATO integrated operating system, which connects online, remote, and offline service scenarios. Through platforms like the Xiangcai Butler App, Xiangcai Baibaoxiang client terminal, and enterprise WeChat, the system enables headquarters to empower frontline staff and ensures efficient execution.

Li Wanqing shared two typical Huatai Securities scenarios:

Scenario 1: Corporate Client Service Traditionally, advisors had to monitor announcements, track income certificate maturities, coordinate with headquarters for client visits, and repeatedly confirm service plans—a time-consuming process. Now, AI proactively notifies advisors of corporate client updates and needs, integrates service modules from various departments (product allocation, financing, trading services), and even generates conversation starters for client meetings.

Scenario 2: AI Zhang Le (AI-Powered App) As an AI-native application, clients can use natural language to activate three agents: Opportunity Hub, AI Trader, and Account Manager Inspector. This creates a complete cycle from opportunity discovery to trading strategy to account diagnosis.

Tan Xianrong stated bluntly: "No AI, no future." For brokerages, AI is a long-term imperative. Century Securities, as a mid-to-small firm, has explored differentiated applications including:

• Intelligent customer service and robo-advisory
• An "AI Pick for You" column in its app, based on the Qianhai 50 ETF selection
• AI-assisted ETF, sector, and portfolio selection
• Exploration of AI tools that prevent internal data leakage

How Centralized Operations Improve Service Efficiency

Centralized operations have become a core strategic path in brokerage wealth management transformation.

Tan Xianrong outlined Century Securities' three-pronged approach:

| Area | Description | |------|-------------| | Operational Centralization | Account management, account opening/closing, permission activation, intelligent customer service—centralized review improves accuracy and client experience | | Advisory Empowerment | An intelligent advisory platform provides research report interpretation, knowledge bases, and standardized templates to frontline advisors | | Marketing Standardization | A "Gold Marketing Assistant" uses a nine-grid system to identify products and push them to frontline staff with standardized scripts |

"The core logic of centralization is moving from scattered to centralized, from manual to intelligent, from fragmented to standardized—continuously improving quality, efficiency, and client experience," Tan said.

Qiu Yuqiang emphasized that centralization is not simply about cutting processes or reducing costs. The core lies in building a strong headquarters-level middle office that can standardize and replicate capabilities, empowering both headquarters and branches digitally.

At Xiangcai Securities:

• Headquarters concentrates resources on product development, digital tools, and service system building
• Branches focus on localized, in-depth engagement with mid-to-high-net-worth clients

He shared a compelling statistic: "With centralized headquarters capabilities and digital tools, our 14 back-office staff can precisely reach 90,000 clients in half a day. In the past, this would have required a frontline service team of over 200 people."

Centralization, he said, releases capacity, improves efficiency, and preserves the human touch—"This is the fundamental path for mid-to-small brokerages to achieve scalable service capabilities with limited manpower."

What Truly Differentiates Client Segmentation?

In centralized operations, refined client segmentation is paramount. The industry is striving to move from "one-size-fits-all" to "one-size-fits-one." But what are the real differences in service content, contact frequency, and product allocation across client tiers?

Tan Xianrong explained that Century Securities has established a dedicated Client Development Center with separate departments for:

• Basic client segments
• High-net-worth clients
• Private equity clients
• Corporate and institutional clients

A scientific insight platform integrates client classification, service content, service frequency, and marketing tools.

• Basic clients rely more on digital, standardized services
• High-net-worth clients receive more personalized services via online + offline models
• Corporate and entrepreneur clients are served through a comprehensive model standardized into 16 modules, covering equity incentives, M&A, and refinancing

Li Ming agreed that with limited advisory resources, centralized client segmentation is essential. AI tools can help address the high cost of talent. However, she stressed that while basic clients can be served through AI platforms, HNWIs require more than AI-driven services.

"AI can assist, but it cannot build trust with clients," she said. The core capability of advisors lies in building trust, understanding client needs, and providing companionship. "Client needs go beyond visible numbers—they include emotions and feelings, which require human understanding."

For HNWIs, product allocation cannot be purely standardized. It requires personalized combinations based on client preferences and research capabilities, including research empowerment, companionship services, and full life-cycle services—areas where AI cannot fully replace humans.

Li Ming concluded that serving different client tiers requires differentiation in client positioning, service content, and delivery methods, balancing personalized needs with cost efficiency.

Source: Securities China