Bluerating | January 2025
2024 was an exceptional year for financial consultancy networks: record collections, total assets and numbers of customers served.
There appear to be three challenges for 2025 for a sector that is never satisfied with the results achieved but always looks to the future with renewed energy and motivation.
The first is to continue growing in the private segment, today 41% of private clients rely on a financial advisor, it was 17% ten years ago, there is still the possibility of growth.
In fact, a third of private customers are not served by specialized banks and there are geographical areas where private banks serve less than 35% of the wealthiest customers.
Greater proactivity and the ability to offer integrated solutions for the management of liquid and illiquid assets are the strong points of the networks.
The second challenge, complementary to the first, is to win over the children and grandchildren of current private customers: they will receive 300 billion euros as a dowry by 2033. These are 40-20-year-olds genetically predisposed to the use of digital platforms who, with the of a consultant would constitute a perfect combination.
The network model is already highly digitalized and scalable by customer segment: 61% of AUM refers to 5.8% of customers with assets above €500K, 11% refers to 73% of customers with assets under €100K.
Acquiring a digital customer today means managing a private customer tomorrow.
The third challenge is to attract talent from the world of banking and similar sectors (insurance and financial companies): the consolidation of the banking sector will certainly make a contribution, the same will depend on the ability of the networks to offer a valid alternative to the best professionals.
Nicola Ronchetti