炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 对于投顾而言，这种转型既是机遇，同时也对其执业能力提出了更高要求：不仅需要具备扎实的金融功 底和敏锐的洞察力，更要具备"以客户为中心"的服务智慧和专业的资产配置能力。笔者认为，下一步， 投顾需全方位提升自身职业素养和职业能力，为投资者提供更优质的服务，成为财富管理的得力助手。 一方面，投顾在提供专业服务时，要坚守合规底线。 作为资本市场的重要参与者，投顾的专业素质、职业操守和合规意识直接关系到市场的公平性和透明 度，相关法律法规对此都有明确规定。然而，有的从业人员在实际服务中，合规底线不牢，风险意识淡 薄，触碰法律红线。结合监管部门开出的罚单来看，被罚原因主要包括个别投顾公开分析和推荐个股； 存在误导性营销宣传、承诺或保证投资收益的行为；投资建议依据不充分、未向客户说明投资建议依据 来源等。 一份份罚单，为投顾执业敲响了警钟，告诫其必须要将合规视为生存之本。同时，这也警示相关机构要 加强合规管理，强化内部控制，对违规行为立即采取措施予以纠正、严肃处理，真正做到以合法合规的 方式高质量开展业务。 这一增长趋势背后，一大动因是券商财富管理业 ...

Core Insights - The number of securities practitioners continues to decline despite the industry's overall profitability and growth, with a net decrease of 7,268 personnel in the first half of the year [1][2] - The total number of securities practitioners reached a peak of 354,200 in 2022, but has since dropped to 329,100 by mid-2025, reflecting a reduction of 25,000 over two and a half years [2][4] Group 1: Industry Performance - As of July 16, 2023, 31 out of 49 listed brokerages reported positive half-year performance forecasts, with over 10 firms experiencing a year-on-year net profit growth exceeding 100% [1] - The decline in the number of practitioners is attributed to multiple factors, including brokerage mergers, salary reductions, a decrease in IPO numbers, and adjustments in talent structure based on business changes [1][2] Group 2: Workforce Composition - By June 30, 2025, the breakdown of registered securities personnel includes 206,700 in general securities business, 81,500 investment advisors, 25,900 brokers, 8,470 sponsors, and 5,625 analysts [2] - The largest brokerage by personnel is the merged Guotai Junan Securities, followed by CITIC Securities and CICC [2] Group 3: Trends in Employment - The reduction in workforce is primarily seen in general securities personnel and brokers, with a decrease of 5,527 and 2,541 respectively in the first half of the year [2] - Conversely, the number of analysts and investment advisors has increased, with net gains of 62 and 1,181 respectively [2][4] Group 4: Future Outlook - The industry is expected to face challenges as many labor contracts are set to expire, particularly for employees hired during the 2020-2022 expansion period [5] - The number of sponsor representatives peaked at 8,812 in 2024 but has since decreased to 8,470 by mid-2025, indicating a trend of oversupply in this area [6][8] Group 5: Talent Migration - Some former securities personnel have transitioned to roles in listed companies or the technology sector, reflecting a shift in talent demand [9][10] - A portion of the workforce has also moved into public service roles, as evidenced by recent civil service recruitment announcements [10]