Wealth management in France: what a wealth manager does, how they are paid and how to choose one

• Definition: organizing all your assets around your goals, taking account of tax, family and time horizon.
• 7,013 financial investment advisers (CIF) at the end of 2024, according to the AMF, 81% of them giving non-independent advice paid by commissions.
• Independent advice: the adviser keeps no commission from products and is paid by fees.
• Before signing: check the ORIAS registration, ask for the entry-into-relationship document and how the adviser is paid.

Wealth management is not only for the very rich: median household wealth in France is €205,100, according to INSEE. As soon as a household has some savings, a mortgage, children and plans, decisions pile up: where to invest, how to declare, which contract to open, how to protect a spouse. Taking them one at a time, at each bank appointment, often leads to an incoherent whole, too much cash here, too many fees there.

This guide covers what wealth management involves, the professionals who practice it and their statuses, the difference between independent and non-independent advice, the stages of the relationship and how to check an adviser. Figures come from the study by the AMF, the French market regulator, on financial investment advisers in 2024, published in December 2025.

Wealth management: definition

Managing your wealth means looking at everything you own and owe, then deciding how to organize it. The starting point is a wealth review: income, spending, available savings, investments, property, loans, insurance contracts, family situation and marital regime. Then come goals, with amounts and dates: a home in five years, education to fund, extra retirement income, passing assets to the children.

Wealth management combines fields often handled separately: financial investments, property, tax, family law and protection insurance. One decision, opening an assurance vie contract or buying a rental property, affects all four. That overall view is what separates wealth management from simply selling a financial product.

Who does wealth management in France?

A financial investment adviser can advise but cannot manage a portfolio on a client's behalf: discretionary management is reserved for authorized asset managers and investment firms. A CGP who offers to “handle everything” on an account without a mandate from an authorized firm is going beyond their status.

The statuses of a French wealth manager

“Wealth manager” is not a legal status in itself in France. The title covers a combination of statuses, each recorded with ORIAS. According to the AMF study published in December 2025, there were 7,013 financial investment advisers at December 31, 2024, up 4.5% in a year, and most hold other licenses:

Every CIF must also join one of the professional associations approved by the AMF, which check their activity; the study lists four. The AMF reports that these advisers served 525,478 clients through their financial advice activity in 2024, 93% of them individual savers, and 2.73 million clients across all activities.

Independent or not: who pays the adviser?

Since 2018, a CIF must tell clients, before advising them, whether the advice is independent or not. The difference lies in how the adviser is paid:

• Independent advice covers a broad range of products, and the adviser may neither receive nor keep commissions paid by product providers. They are paid only by client fees.
• Non-independent advice is generally paid by commissions: part of the fees the client pays on the recommended products, entry fees or annual management fees, is passed back to the adviser by the insurer or asset manager. The adviser may also charge fees.

According to the AMF, 81% of CIFs gave non-independent advice in 2024, or 5,143 firms. This model is not illegal, and it lets modest households get advice without a bill. But it gives the adviser an interest in the products that pay best. Commissions must be disclosed to the client: asking for the amount, in euros and as a percentage, is a healthy reflex.

The stages of the relationship

1. Discovery: the adviser hands over an entry-into-relationship document setting out their statuses, partners and pay, then gathers the client's situation, goals, experience and risk tolerance.
2. Engagement letter: it states what is requested, a full review or one-off advice, and what it will cost.
3. Review and recommendations: the advice is given in writing, with the reasons it suits the client's situation and goals.
4. Implementation: opening contracts, switching funds, possibly legal arrangements with a notary or lawyer.
5. Follow-up: a regular review, at least yearly, to adapt to life changes and new tax rules.

How to choose and check a wealth manager in France

• Check ORIAS: the public register at orias.fr shows the statuses actually held and the association. An adviser who is not on the register cannot practice.
• Consult the AMF blacklists and, for a bank or investment firm, the REGAFI register.
• Ask for the entry-into-relationship document and how the adviser is paid, in writing, before subscribing to anything.
• Compare the fees of the proposed contracts with online offers: a 1% gap per year compounds over twenty years.
• Be wary of promises of high guaranteed returns, unusual investments (wine, forests, solar panels) presented as risk-free, and pressure to sign quickly.

A good adviser asks more questions than they present products, explains what they earn without being asked twice, and accepts that you take time to compare.

Managing your wealth yourself

Many households can go a long way on their own, provided they go in order: a budget they keep, emergency savings, then wrappers suited to each horizon. The guides on where to put your money in France, assurance vie and the PEA cover these steps. A professional is mainly worth it for estate planning, marital regime, company or complex tax questions, where a mistake is expensive.

Wealth management: the key points

1. Wealth management organizes all your assets around dated goals, taking account of tax and family.
2. A French wealth manager is usually a CIF registered with ORIAS, often with other statuses.
3. 81% of CIFs give non-independent advice paid by commissions; independent advice is paid by fees.
4. A CIF does not manage a portfolio for you: discretionary management requires an authorization.
5. Check, ask in writing, compare before signing.

This guide is educational and is not personalized investment advice. Figures are those of the AMF study on financial investment advisers in 2024.

Frequently asked questions