With the concern of the bank leaders and the careful arrangement of the human resources department, I recently had the honor to participate in the 10th advanced training course on behavior decision-making and risk management for branch managers organized by Guanghua School of Management, Peking University. The short four-day training not only made me unforgettable, but also benefited me for life! This training course was lectured by Professor Wang Xiaotian, a tenured professor and doctoral supervisor in South Dakota, USA, and Zhang Zhixue, an associate professor at Guanghua School of Management. From the perspectives of physiology, psychology, sociology, organizational behavior, evolution and human behavior, the two professors used the research results of domestic and foreign scholars for reference to show and describe the whole process of human behavior decision-making, deeply analyzed and discussed the internal relationship between behavior decision-making and risk management, and inspired us to learn to avoid traps and make rational decisions in actual decision-making.

During the training, I was deeply impressed by Professor Wang Xiaotian's "Three Benchmarks Theory". Through the study of this theory, I feel that it is very effective to apply it to bank financial planning. Now I will report my learning experience as follows for your reference.

I. Introduction of "Three Reference Points Theory"

The "three reference points theory" is the development and sublimation of the "prospect theory" put forward by Professor Kahneman, the American Nobel Prize winner. He described the decision-making process more accurately through an S-shaped value function, and showed that irrational behavior can be identified and predicted. On this basis, Professor Wang Xiaotian put forward the "Three Benchmarks Theory". He believes that people should consider two things at the same time when making decisions and choices: how to make it possible to achieve their goals. Therefore, in the actual decision-making process, people actually consider three reference points (three elements) psychologically: goal, status quo and bottom line, from which four areas of failure, loss, benefit and success are deduced.

Using the theoretical model of three reference points can well explain the risk decision-making psychology of decision-makers, thus encouraging decision-makers to make rational decisions as much as possible and reducing mistakes. Explained in popular language is that when people are in a profitable state, they will choose not to take risks or reduce risks, become risk evaders and seek stability; On the other hand, when they are in a state of loss, they will choose to burn their bridges and take a chance to become risk seekers in order to win in chaos.

Second, the application of "three reference points theory" in the practice of bank financial planning.

At present, bank financing and wealth management are becoming the focus of retail business, and we can make good use of this theory when tailoring financial planning for customers. We all know that the views of "customer-centered" and "market-oriented" are correct, but what is the theoretical basis behind the correct views? We didn't think about it in detail, but through this study, I feel suddenly enlightened and deja vu. Isn't the above viewpoint the practical application of "prospect theory" and "three reference points theory"?

For example, taking customers as the center is to tailor our financial planning from the perspective of customer needs, but this is only the goal of our work, so how to do it? The theory of "three reference points" provides a train of thought.

First of all, we should listen to and ask customers' questions and understand their financial reasons and current financial situation, but this is only one of the reference points, which is not enough. We also need to find out two other reference points for customers: "financial objectives and risk tolerance bottom line"; After understanding the "three reference points" of customer financial management, we can recommend the right products to the right customers at the right time through the right channels in combination with the income and risk characteristics of financial products such as foreign exchange, funds and securities, and provide customers with personalized financial planning more accurately.

We usually do the same thing, but it has not risen to the theoretical level. Now that we know the "three reference points theory", we will apply this theory to financial management practice from the perspective of takenism. By mastering the three reference points of customers, we can help customers make more rational decisions more easily, accurately and objectively, reduce mistakes, meet customers' individual needs, greatly improve our financial management level, and then enhance the reputation of our financial management brand.

In addition, learning the "three reference points theory" well is not only beneficial to customers' personalized financial management, but also beneficial to their own financial management. For example, it can be widely used in our daily investment decisions such as securities, foreign exchange and foreign exchange options. Everyone should consider their three reference points before investing, or adjust them in real time according to the situation, and then provide a rational basis for their stop-loss decision based on the three reference points, so as to avoid regretting the decision on impulse.

Of course, there will always be deviations when theory returns to reality, which requires us to narrow the deviation of decision-making and use it flexibly in combination with facts. Because any theory has vitality and practical significance only when it is applied to the practical context, dogmatism is not desirable.

The Red Mansion on the beach, the unnamed Yan Garden, has a century-long history and is profound, and there is still a long way to integrate theory with practice. Theory has pointed out the direction for us more, and we have learned more about methodology and way of thinking in the process of refining and summarizing the theory. This is the biggest gain and deepest feeling of our trip!