At a time when the generational transfer of wealth is accelerating, wealth management is undergoing profound change. Technology is redefining families' expectations and forcing professionals to rethink their value proposition. Arnaud Parmentier, Head of Sales at Abbove, decodes these new challenges for us, and explains how the platform enables advisors to become true asset managers.
The generational transfer of wealth is accelerating. How is this transforming the relationship between advisors and clients?
Generational transfer is no longer just a tax or legal issue; it's a profound change in the relationship paradigm. We're moving from a bilateral advisor-customer relationship to a multi-actor, multi-generation relationship, with very different expectations in terms of transparency, digitalization and involvement.
The new generations want to understand, challenge and, above all, participate in decision-making. They expect a global, educational and accessible vision of their assets. This requires advisors to move away from a production approach to one of orchestration and strategic support.
What are the main difficulties encountered by families today in managing and passing on their wealth?
Three main difficulties stand out:
- Fragmentation of information: Data is scattered between banks, insurance companies, notaries and chartered accountants. There is no consolidated view.
- Lack of education and clarity: Strategies are often perceived as complex, even opaque, which slows down the acceptance of heirs.
- Lack of coordination between stakeholders: Each expert works in his or her own silo, creating inconsistencies, inefficiencies and sometimes sub-optimal decisions.
The result: misunderstood assets and increased risk of family tensions.
Asset management is becoming increasingly commoditized. What do new generations expect from their advisors?
They no longer expect financial performance alone, although this remains fundamental. Above all, they expect :
- A global vision of their wealth situation.
- Interactive tools to work with and understand decisions.
- The ability to integrate their values (impact, sustainability, life projects).
- A fluid, digital experience.
In other words, advisors are no longer judged solely on their ability to manage assets, but on their ability to structure, explain and project. It's a shift from the role of "manager" to that of "wealth orchestra conductor".
In concrete terms, how does Abbove enable different generations of the same family to be involved in wealth management decisions?
Abbove provides a very concrete response to this transformation in three ways:
- A single platform that consolidates the whole of the family's assets: silos are a thing of the past, and a clear, shared vision is now the order of the day.
- An interface designed for dialogue: advisors can involve their customers and their children in concrete scenarios, facilitating buy-in and decision-making.
- Smooth collaboration between professionals: the entire advisory value chain finally works on a common basis.
The result is better-informed decisions, greater buy-in from all parties, and strengthened customer relationships over the long term.
For what types of players is this type of approach the most relevant today, and how does it fit into their offering?
It's an immersive, high value-added approach for a broad spectrum of professionals:
- Private banks and wealth management companies.
- Family offices.
- Chartered accountants.
- Law firms.
- Independent wealth management advisors (for dedicated wealth management services).
It is aimed at all players who wish to move from a fragmented offering to a comprehensive, structured support service. Abbove does not replace existing tools. It connects them, structures them and gives them meaning. It becomes the strategic layer that enhances existing expertise, improves the customer experience, structures a differentiating offer and, above all, captures and retains the loyalty of new generations.
In a world where access to information is becoming universal, true value no longer lies in data, but in the ability to structure it, project it and make it actionable.This is precisely where Abbove creates a decisive advantage.