Content of the study:
The wealth management market - France

Available languages

MARKET OVERVIEW

1.1 Market definition and presentation

The aim of wealth management is to make the client's tangible and intangible assets and liabilities bear fruit. Wealth management is a very broad field, encompassing a wide range of activities such as financial investment management, real estate management, art acquisition and more.

The global wealth management market is doing well. Indeed, the global market grew at a CAGR of 4.8% between 2015 and 2020. What's more, growth prospects are good, with market size set to double between 2021 and 2030, despite ever-increasing regulation.

Nationally, the wealth management market is stable. Clients are mainly private individuals, although many companies also benefit from this service. The core target of wealth management advisors is high net worth individuals, i.e. the top 10% of households in terms of gross assets. What's more, the wealth management market in France is particularly fragmented, as it is divided between many different types of player. Nevertheless,the majority of sales are captured by just a handful of them .

The wealth management market in France is highly competitive, dominated by direct players such as IFAs, insurers and major banks, with indirect players such as lawyers, chartered accountants and notaries.

By 2021, IFAs in France had reduced their partnerships with financial instrument providers, while increasing the number of instruments advised. The profitability of wealth management players has fallen due to low rates, more conservative allocations and regulatory constraints, driving them to explore fintechs to remain competitive.

Wealth management is responding to the growing demand for ESG, with 29% of French assets invested in 2021, although there are significant challenges. Between 2019 and 2021, the number of fund managers without an ESG strategy fell by 12%, with increasing adoption of ESG integration, accounting for 54% in 2021.

The market trend is towards digitalization, notably with the emergence of "fintechs" such as Yomoni, Advize, Nalo and Finary. The trend is also towards investments with greater environmental and social impact.

1.2 The global market is growing

In ****, the global wealth management market is estimated to be worth $*** billion , according to Bain & Company. Between **** and ****, the market is expected to grow at a CAGR of *.*% to reach $*** billion, doubling in value according to Bain.

Moreover, despite heavier regulation, volume is increasing, andthe number of high net worth (***) customers ...

1.3 The French market

In ****, sales by wealth management firms will total *.*** billion euros. This is up on **** (***) , and well above the **** level. The market has thus completed its recovery from the health crisis, during which activity was contracted, and is now booming.

Sales of wealth management consultancies France, **** - ****, in billions of euros Source: ...

DEMAND ANALYSIS

2.1 Typology of demand

Clients of wealth management advisors :

The clientele of wealth management advisors consists mainly of private individuals (***) round out the private clientele. The remaining *% are corporate clients.

Breakdown of CGP clients France, ****, in Source: ****

Customer profiles :

Clients can be classified according to two characteristics: their level of knowledge and experience, and their ...

2.2 French people's wealth

According to INSEE's publication Revenus et patrimoine des ménages édition ****, based on **** data,total French net wealth amounted to **,*** billion euros. Net wealth is the total amount of assets held by a household (***) from which is deducted the amount of capital it still owes in respect of its contracted ...

2.3 High net worth, the core target of CGPs

In ****,"high net worth households", which refer to the top **% of households in terms of gross wealth, owned a minimum of ***,*** euros in assets. These high net worth households numbered *.* million in ****, owning an average of *.** million euros. What's more, the top *% have ***,*** euros, while the top *% have more than *.** million ...

2.4 French people's attitudes to financial investments

Low interest rates on various investments are having an impact on French attitudes. The graph below shows, for example, that more and more French people are turning to slightly riskier products for their savings (***). Nevertheless, the rise in interest rates in **** in the context of inflation is changing French people's investment ...

2.5 The need to rebuild trust between the sector and its customers

Confidence in CGPs France, September ****, in Source: ****

In ****, French consumers were asked about the trust they place in wealth management services. Nearly half of French people tend to trust CGPs (***) don't really trust them or don't trust them at all. So, although a proportion of the population has a positive opinion, ...

2.6 Demand trends: preparing for retirement, digitalization, euro and unit-linked savings and environmental and social impact

An increase in retirement savings:

More and more non-retirees are saving for their retirement. Whereas only **% were doing so in ****, **% - up ** points in * years - will be doing so in ****.

Change in the proportion of non-retirees saving for retirement France, ****, in Source: ****

However, among the **% of non-retirees saving for retirement, ...

MARKET STRUCTURE

3.1 Overview of the competitive landscape

The different players

The wealth management market in France is particularly fragmented, as it is divided between a wide range of players: brokers, bankers, insurers, real estate agents, lawyers, notaries, chartered accountants, independent advisors, investment firms, property administrators, portfolio managers, auctioneers, and so on.

However, these players can be divided into ...

3.2 Financial performance and CGP remuneration

The wealth management advisor business is concentrated among the top players. The top ** account for **% of the sector's sales. The next *** account for **% of market revenues. The remaining **% is divided between the remaining **** firms.

Level of concentration of CGP players, by sales revenue France, ****, in Source: ****

This high concentration of the ...

3.3 Interview with Malcolm Vincent, Managing Director of Astoria Finance

Cantiane:Hello and welcome to vue d'ensemble, the podcast that takes you on a **-minute tour of a market. My name is Cantiane and I'm an analyst at Businesscoot, a start-up specializing in market research. For today's episode, we're going to talk about the wealth management market, and to do so, ...

3.4 The sector's shift towards ESG

The wealth management sector, like other branches of finance, is increasingly turning its attention to ESG. This necessary shift, requested by clients and investors, is not, however, easy to implement. In fact, according to a report by the AFG (***), there are * challenges to overcoming the major obstacles to implementing impact ...

OFFER ANALYSIS

4.1 Variety of services on offer, and fees applicable to the wealth management business

The wealth management market covers a range of services that are as varied as they are complementary:

Financial management: selection of funds and investment vehicles under discretionary management, management of dedicated funds, development of structured products, etc. ... ; Retirement planning: understanding future needs, long-term investments; Wealth engineering: organization, construction and transfer of ...

4.2 Supply trends: digitalization

Half of all wealth management advisors took advantage of the health crisis to invest in and develop their digital solutions offering. The following graph shows that this trend is stronger in **** than it was the previous year. These investments are slightly more focused on customer communication than on business management.

CGP ...

4.3 The future of wealth management

The wealth management industry is rapidly evolving in line with customer needs and demands. The sector is becoming increasingly competitive as regulation, globalization of flows and technological disruptions come into play.

According to a Deloitte study, the top ten disruptions that will impact the future of the wealth management sector are ...

REGULATIONS

5.1 Regulations applicable to the profession of wealth management advisor

The wealth management advisory profession does not benefit from a specific status, as is the case for lawyers, for example. As a result, wealth management advisors may need to have * statutes/competences listed in the following table, depending on the nature of their activity:[***]

In addition, the asset management market is ...

5.2 The impact of the PACTE Act on the sector

The PACTE Act, passed on April **, ****, proposes major changes to modernize French wealth management tools and numerous measures to support SMEs-ETIs.

Among the main measures impacting the wealth management business, we can cite changes relating to:

life insurance: life insurance and capitalization contracts can now be transferred within the same insurer, ...

POSITIONING THE PLAYERS

To keep reading, buy the full research

What is in this market study?

  • What are the figures on the size and growth of the market?
  • What is driving the growth of the market and its evolution?
  • What are the latest trends in this market?
  • What is the positioning of companies in the value chain?
  • How do companies in the market differ from each other?
  • Access company mapping and profiles.
  • Data from several dozen databases

  • This market study is available online and in pdf format (30 p.)
  • Consult an example PDF or online

Our other products

Our other products

Pack 5 études (-15%) - France

378 €

  • 5 études au prix de 75,6€HT par étude à choisir parmi nos 800 titres sur le catalogue France pendant 12 mois
  • Conservez -15% sur les études supplémentaires achetées
  • Choisissez le remboursement des crédits non consommés au terme des 12 mois (durée du pack)

Consultez les conditions du pack et de remboursement des crédits non consommés.

Buy

Method

Method
Data
Analysts 1 sector analyzed
in 40 pages
Method
Control

Analysts

  • Top Universities
  • Expert opinion

Data

  • Databases
  • Press
  • Company reports

Control

  • Continuously updated
  • Permanent watch

Method

  • Synthetic structure
  • Standardized charts

Reviews (5)

Reviews (5)

The wealth management market - France

Publicado en 18/05/2023 by Nicolas BERMIS - Société en création

L'étude de Businesscoot m'a permis de bien dégrossir le marché sur le plan macro, en résumant les grandes tendances, pour un coût acceptable ! Merci, cela a pu contribuer à appuyer mon projet!


Businesscoot Response:

Merci beaucoup Nicolas pour votre commentaire :)

The wealth management market - France

Publicado en 21/11/2022 by Sylvain Lorman - Avocode SAS

J'ai trouvé la plupart des informations recherchés. J'aurais toutefois souhaité trouver un peu plus de profondeur sur certains aspects

The wealth management market - France

Publicado en 21/07/2022 by Bruno Wets

Statistical study a little succinct but satisfactory and serious It lacks comparisons in terms of figures (assets, inflows, by product) between the global market (including bank-insurance) for asset management and that of the CGP CIF brokers

The wealth management market - France

Publicado en 14/02/2022 by David Ninitte

Excellent study to discover. Bravo for the quality of your content. Sincerely


Businesscoot Response:

David, thank you for your comment.

The wealth management market - France

Publicado en 15/12/2021 by Jean Philippe Perrin


Businesscoot Response:

Hello Jean Philippe, Thank you for the rating you have given to our study. :)

Customer cases and references

Customer cases and references
La pépite Interview
Linkedin logo

BFM Business

La pépite Interview

Paul-Alexis Kebabtchieff
Linkedin logo

Boston Consulting Group

Paul-Alexis Kebabtchieff

Marie Guibart
Linkedin logo

Kea Partners

Marie Guibart

Elaine, Durand
Linkedin logo

Crédit Agricole, Information & Veille

Elaine, Durand

Philippe Dilasser
Linkedin logo

Initiative & Finance

Philippe Dilasser

Anne Baudry
Linkedin logo

Metro

Anne Baudry

Amaury Wernert
Linkedin logo

Kroll (Duff & Phelps)

Amaury Wernert

Smart Leaders Interview
Linkedin logo

B-Smart

Smart Leaders Interview