Platforms: a major challenge for Wealth Management Advisers

Périclès Group has been leading the Life Partners Club for almost 20 years, the insurers’ club specializing in relations with platforms, and is currently supporting them in their transformation. In this context, Fayçal Redjeb, Senior Manager, was interviewed by AGEFI Actifs about the expectations of Wealth Management Advisers vis-à-vis platforms.

Fayçal Redjeb – “First there is an expectation on the supply of products. Today, low rates mean that the return on euro funds is close to zero. Some insurers have added access constraints and are already reporting on future returns, which will be very low. Fees have sometimes been added to arbitrations towards the euro fund. It moves the model. The CGP need to be able to propose alternatives. There is an offer that is developing strongly in parallel: Civil Property Placement Company.

Responsiveness on management is also acclaimed?

Indeed, the quality of management of the platform is essential. The degree of satisfaction of the Wealth Advisors is linked to the proper processing of files. The care and the follow-up on the management of the files count a lot. This can take several forms: sending emails, notifications, SMS, etc. In the same vein, complaints management must be efficient: if an error has occurred, it must be possible to resolve the problem quickly.

To this end, which organizations work best?

We have seen numerous reorganizations in recent years in platforms, in particular mono-insurers, for example at Cardif or Generali Patrimoine. Today, we see that there are different organizations that have been set up. Some opt for a fine mesh in the regions when others choose to centralize their teams. Geographic proximity is not necessarily essential, but Wealth Advisors want an identified contact who takes care of them and be able to reach them directly and easily. Same thing with middle office teams.

What are the other important criteria?

The platforms carry out the commissioning work for the Wealth Advisors. This service is a key subject. The Wealth Advisors expect good legibility of commission slips, reliable calculations and reasonable payment terms. They also want to be able to access scales online. And of course, digital is still a hot topic. Expectations are focused on the product offer and the services. All obligations related to investment advice remain a concern. Technological developments must make it possible to respond to these constraints. “

Full article available on the AGEFI Actifs website.