Securities firms are rushing to upgrade infrastructure and develop new products to woo as many investors as possible.


Sai Gon-Ha Noi Securities Company (SHS) has launched fee bonuses in its newly built HCM City branch over the last two months as part of its strategy to lure more investors.
The company would focus on promoting consultancy services by launching daily online meetings between the headquarters and its branches to overview market happenings, said the company's Director Nguyen Quang Vinh.
With the daily overview, it would set up a list of promising investment portfolios to provide information for clients, Vinh said.
Meanwhile, SME Securities said it would direct its development as an investment bank.
Other companies like FPT Securities and VNDirect Securities are keen on developing new market driven products and services.
For example, both companies have launched mobile trading services for investors interested in making transactions over their mobile phones.
"Investors are making higher demands and they are more particular about choosing a securities company to open accounts with," said Nguyen Huy Duong, Deputy Director of a Ha Noi-based securities firm.
Without changes to products and technology, the broker would kill themselves in this competitive market, especially as investors could easily run to other companies, he said.
Nhuan Phat, a Veteran Investor with SME Securities, said that the fee bonuses or new service launches were just initial support, while investors put more focus on the company's technical infrastructure.
"By owning an advanced and stable technical system, investors feel safe when they use the company's services. This is how we retain them."
"Companies offering promotional programmes will lure investors, but over time, those with a stable, long-built backgrounds will retain investors for longer," said Nguyen Thuy Hang, a Marketing Official with a HCM City-based marketing company.
Hang said the upgrades were essential but they shouldn't be turned into a rush between companies to lure investors. "The real ability of a company will be realised through the market."
An Anonymous General Director of a giant securities firm said that each company with its own strategy to woo investors would make the competition more interesting. Those that can't afford the competition would be left behind, he said.
As a rule, better days were ahead and investors would be the first beneficiaries, the director said