1. In terms of licenses, comprehensive brokers generally have multiple licenses such as investment banking, asset management, self-management, brokerage, direct investment, fixed income, research, etc., while small and medium-sized brokers generally only have brokerage business licenses. Brokerage business license, that is, the business department of ordinary securities companies, earns agency fees through stock trading, creditor's rights and securities. Under different market conditions, license plate has a great influence on business.
2. In terms of transformation, with the emergence of mobile Internet and artificial intelligence, brokerage services and products are becoming more and more homogeneous, and most brokers are actively seeking transformation. Some brokers actively attract small and medium investors by building platforms; Another part of brokers will focus on wealth management of high-net-worth customers; There are also some brokers who cultivate excellent investment by setting up private equity factories and simulating stock trading, so as to attract customers with excellent investment.