Between new competitors online and change of practices, private banks are forced to adapt.
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Wealthy customers arouses lusts. Number of young digital shoots are embarking on this niche in the announced objective of “democratizing wealth management” or “making private banking accessible”.
This is, for example, the case of Yomoni, present on the market since 2015, which provides in its presentation to combine “the best of private banking (…) to that of online banking”. “For customers who can claim private banking with a simple heritage, the additional cost that this type of establishment represents in relation to what it offers is not interesting, estimates its president, Sébastien d’Ornano. We have More and more customers who bring a few hundred thousand euros, even a few million. However, their heritage organization does not require the expensive recourse to a private bank. “
Same bell in the very young Fintech Artur, founded by the Manager of Fortune Vania Marereuse. These actors adopt either a global approach, like Artur, which first of all offers a tool for aggregating heritage (which allows you to have a global vision), then investments such as insurance- Life, retirement savings, real estate and investment in cryptoactives.
A positioning also adopted by Grisbee or by the very young finary, who for the moment refines his aggregation service and the associated analysis tools. “We offer simulators inspired by wealth management,” says Mounir Laggoune, its founder. If the basic features are free, these more elaborate tools are reserved for members of Finary Plus, subject to a subscription of 15 euros per month. The next step for this fintech, which claims 10,000 banks connected to its tool, it is good to enrich its offer with investment solutions. 2>
flat management fees
These players generally seek to stand out through prices. Artur offers, for example, a life insurance contract with flat-rate management fees, regardless of the amount of savings placed. “We have found that the management of a wealth cost the same price of a few thousand euros to 500,000 euros, explains Vania Managée. There is no reason to pay more.” Yomoni or Nalo put Also in front of their prices, with management mandates based on ETF (Exchange Traded Funds), very little loaded index funds. And also their greatest transparency on the subject. “In private banks, confidentiality tends to turn into opacity”, Tance Sébastien d’Ornano.
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