8 billion and the collection 38 to EUR 8

Observer privileged of the world of independent wealth management (CGPI) advisors, society of studies Aprédia publishes, as every year, its white paper of heritage management. The ninth edition of this annual heritage independent review is a status of the profession after a year of financial crisis. But that, in the light of the results, is holding firm against winds and tides.

While the assets entrusted to the surveyed firms 1.880 fell by 23, to EUR 60.8 billion, and the collection 38 to EUR 8.5 billion. In the end, only 47 of these professionals may pride themselves on having maintained their turnover, or even have improved, while 93 in 2007. The decline recorded by more than half of the firms is "mainly related to arbitration to safer and less remunerative investments, the caution of investors and, for some, too strong specialization in real estate", says Aprédia.

This decline in activity is not endangered 88 of them cash. Just as the context has not damaged the confidence of the customers. Indeed, 88 per cent of the independent heritage did not have to conflict with them.

Reassure the customer

This is not the case in banking networks, to the delight of two independent wealth management consulting out of five, their abandoned customers disappointed by their benefits. Corollary of these movements and the uncertainties arising from the stock market turmoil, advisors have increased their presence to their customers for the reassurance. It has become their main task.

"They took the lead by going to see their clients." "Suddenly, administrative position, usually considered highly time consuming and painful, came in second position", says Aida Sadfi, Associate Director of Aprédia. But despite this attention, some independent could not prevent savers from, "seduced by the remuneration of the accounts in the term proposed by banks." "Others were also disappointed by the benefits of wealth management advisors that have been slow to arbitrate in contracts of life insurance units of account to the euro", she said.

Of this trade squabbles, each independent average captured 23.2 clients, with 32.2 gain and a loss of 9.

In 2009, "the independent wealth management advisors vacillate between dynamic and wait!", title analysis Office, who feel been more cautious than pessimistic. Already, half of them do not know what will be the trend of the year.

And on the ground, they were 70 have had confidence in the evolution of financial markets early 2008. Today, only a quarter of them still display a degree of optimism. And, curiously, 40 of advisors are still considering a progression of their activity.

Greater transparency

"The independent rely on diversification of their activities on a recovery in the property market following the plan stimulus, but a better responsiveness on their part to a crisis that they were difficult to manage in 2008", reports Aprédia.

Of these lessons learned from last season, it is clear from the white paper "that, for some independent wealth management advisors, the relationship with management companies is is largely distended and that this will weigh on the choice of investment in the short and medium term." They recommend greater transparency in their management and advise to favour the commercial technology. A wise...