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Distribution channels: Developing the IFA (independent financial advisor) market

A market in full consolidation: becoming the go-to partner for financial advisors

Wealth Management / Life Insurance

IFAs: A new growth relay

From business relationship to strategic partnership

he gradual retreat of traditional banks from client relationships — declining branch footfall, refocusing on high-net-worth clients — leaves a gap in the mid-tier wealth client segment, which independent financial advisors (IFAs/CGPs) are now filling. Driven by a growing market that is becoming increasingly concentrated (12 groups exceeding €1bn in assets under management, an ongoing wave of consolidation) , the IFA channel is becoming an essential distribution relay for asset managers and insurers. This results in two major challenges: 

  • Building an offer and support model suited to the diversity of IFA profiles
  • Securing the partnership in a context of regulatory pressure and market consolidation.

  • Offer – Adapting products to the expectations of IFAs and their clients

    • Diversifying the range on offer – Meeting IFAs’ growing demand for ETFs (48% want to offer them more), private equity and structured products, in line with their clients’ search for diversification and yield
    • Segmenting the offer by IFA type – Tailoring the value proposition to each profile (independent, network-affiliated, family office, digital, specialised): open architecture for independents, packaged products for networks, high-end solutions for family offices
    • Strengthening educational support – Providing IFAs with training content and sales enablement material, given that 59% of French people consider their own knowledge of investments insufficient

  • Services – Equipping IFAs to gain efficiency

    • Deploying dedicated digital tools – Developing management, reporting and wealth aggregation interfaces: 76% of IFA clients already use digital tools, but actual adoption by IFAs themselves remains limited, as priorities stay focused on core advisory work and wealth engineering
    • Embedding artificial intelligence into support – Automating repetitive tasks (regulatory monitoring, product due diligence): an issue seen as essential for the future of the profession by 82% of IFAs
    • Supporting regulatory compliance – Helping IFAs meet their obligations (Orias registration, AMF-approved professional association, professional liability insurance), as regulation is seen as the main challenge by 70% of them

  • Relationship management – Building a lasting partnership

    • Supporting market consolidation – Adapting the distribution strategy to the ongoing wave of mergers (an exiting IFA receives an average of 7 to 8 acquisition offers), by building solid partnerships with both emerging groups and remaining independent advisors
    • Evolving the business model beyond retrocessions – Anticipating the impact of regulatory change (Value for Money, RIS) on a model currently based 75% on entry-fee retrocessions, by exploring alternative remuneration schemes
    • Targeting high-potential segments – Capitalising on the client-base rejuvenation observed by 47% of IFAs