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Adapting the offer: Products x Services x Management mode

The savings ecosystem must continuously evolve its offer to meet clients’ needs.

Asset Management / Wealth Management / Life Insurance

Adapting the offer to address clients’ challenges and grow inflows

Margin pressure, the digitalisation of distribution and tightening regulation (retrocessions, Value for Money) are forcing asset managers and wealth managers to fundamentally rethink their offer. This results in two major challenges: restoring the attractiveness of the range to support inflows, while simplifying and controlling production and distribution costs.

  • Products – Rethinking the investment universe

    • Mutual funds (UCITS): range rationalisation – Reduce the number of sub-scale and overlapping funds to concentrate commercial and management resources on genuinely differentiating strategies, while simplifying the product architecture and the associated reporting/compliance costs.
    • Active ETFs – Invest in this fast-growing segment to capture clients seeking cost efficiency and transparency, without giving up on alpha generation; also a lever to renew the discretionary management and unit-linked offer.
    • Unit-linked funds (UC) – Diversify and enrich the range (thematic, ESG, private assets) to meet savers’ search for yield in a context of low-yielding guaranteed funds, and increase the share of unit-linked inflows relative to the guaranteed fund.
    • Private assets (private equity, private debt, infrastructure) – Democratise access to asset classes historically reserved for institutional investors, to differentiate the high-end wealth management offer.

  • Services – Enriching the value proposition

    • Fee-based “à la carte” services – Introduce dedicated, separately-billed services (wealth planning, tax, legal, succession) to gradually move away from a model built solely on retrocessions.
    • “Phygital” hybrid support – Combine digital self-care tools (simulators, wealth aggregation, online subscription) with access to human expertise for complex decisions.
    • Extra-financial / ESG reporting – Offer differentiated monitoring and advice on ESG criteria, which have become a decisive factor for a growing share of clients

  • Management – Evolving the management models

    • Launching a discretionary management (managed account) offer – Delegate portfolio management to the institution based on allocation grids provided by an asset manager, according to the client’s risk profile and objectives; a lever to increase the share of assets under management relative to the execution-only/order-transmission model.
    • Developing advisory management – Allow knowledgeable clients to retain control over their investment decisions while benefiting, on request, from an advisor’s expertise to optimise their portfolio adjustments.
    • Aligning the pricing model – Match the fee structure to the actual level of service provided (mandate, advice, execution-only), in line with the transparency requirements driven by regulation