Wealth Management Advisor in France: Role and How to Choose One
Updated on 3 August 2026
A wealth management advisor in France, known locally as a conseiller en gestion de patrimoine (CGP), is a regulated professional who structures your investments, your tax position, your estate planning and your retirement. This guide explains what the role actually covers, the regulated statuses behind it (FIA, IOBSP, IAS) and the criteria for choosing a transparent, independent advisor.
- Always check the ORIAS registration and membership of an AMF-approved association before signing a mandate.
- An independent wealth management advisor (CGPI), paid in fees rather than in retrocessions, works on an open architecture with no incentive to favour particular products.
- A full wealth review with a CGPI generally costs between €1,000 and €2,000, excluding the fees of the products then recommended.
- No minimum wealth threshold is required to consult a CGP, but premium offers such as Finary One have their own entry thresholds.
- Since the European MiFID II directive, every advisor must disclose each year all the retrocessions and commissions received on the products sold.
What is a wealth management advisor (CGP)?
The wealth management advisor is an expert who supports you across all of your wealth-related questions. Also called a CGP, he or she helps you build a tailor-made wealth strategy that lets you reach your goals.
In 2026, ANACOFI counts around 3,486 registered Financial Investment Advisors (FIA) members in France, alongside bank advisers and private banks (source: ANACOFI). Every CGP must be registered with ORIAS and belong to one of the 4 associations approved by the AMF: ANACOFI, CNCGP, CNCEF Patrimoine or La Compagnie.
The market has three broad profiles. The traditional CGP is generally paid through product retrocessions. The independent CGP (CGPI) is paid in fees or on a flat-fee basis, on an open architecture. The wealth advisor, attached to a private bank or to a premium wealth service, typically targets wealth from €250,000 to €1,000,000 depending on the provider. Family offices remain reserved for larger portfolios, from €10 million upwards for a multi-family office.
The advisor can recommend investments and support you on questions as varied as inheritance, tax optimisation or the use of credit. Good wealth advice is a genuine Swiss army knife.
The advisor carries out a wealth review before making any relevant recommendation. Only once that review is complete does he or she formulate recommendations. If your advisor rushes through this part, they are simply trying to sell you a product without taking your situation into account.
Here are the main steps to follow with your wealth management advisor:
- Inventory: list all of your assets (property, life insurance, equities and so on) and liabilities to get an exact picture of your situation. An online platform can make this step easier than a spreadsheet.
- Analysis: analysis of your existing wealth.
- Defining your goals: growing your capital, preparing to buy a house, retiring at 50. This is the moment to list all of your objectives.
- Action plan: only once the advisor has a clear picture of your situation and your goals can he or she make investment recommendations. That may include investing in ETFs via your PEA (a French tax-advantaged equity savings account). In some cases, bringing in a notary or a tax lawyer can prove very useful.
- Long-term follow-up: the relationship with a wealth management advisor is built over time, often over more than a decade.
CGP, FIA, wealth manager: what are the differences?
CGP, FIA and wealth manager are three labels for wealth advice with distinct scopes: only the FIA status is a regulated status in the strict sense, while "CGP" and "wealth manager" remain generic or marketing labels.
The profession is supervised by the AMF and ORIAS, but the statuses vary. Here are the main categories.
- CGP (conseiller en gestion de patrimoine): a generic term. It often covers the FIA status, IOBSP (banking and payment-services intermediary), IAS (insurance intermediary), insurance broker and estate agent (Carte T).
- FIA (Financial Investment Advisor): a status regulated by the AMF (article L. 541-1 of the French Monetary and Financial Code). Mandatory to give personalised advice on financial instruments.
- Wealth manager: a marketing label. It can cover a traditional CGP, a private bank or a family office.
- Private wealth manager / private banker: attached to a private bank or to an independent firm. Targets wealth from €250,000 to €1 million depending on the provider.
The private wealth manager at Finary One
Finary One offers support from a dedicated private wealth manager for portfolios from €500,000 in investable assets. A global approach, transparent fees and multi-asset integration (property, private equity, Luxembourg life insurance, Lombard lending).
- A dedicated private wealth manager, with long-term support aligned with your wealth objectives.
- A global wealth strategy, covering taxation, estate planning and diversification across asset classes.
- A 360° view of your wealth, with every account and asset centralised in a single platform and continuous reporting.
Learn more about Finary One → Reserved for investors with €500,000 in investable assets. Investing carries risks, including a risk of capital loss.
How do you choose a good wealth management advisor?
Choosing a wealth management advisor comes down to fee transparency, independence from products and the quality of the initial wealth review.
A relationship with an advisor is built over time. Ideally, your advisor supports you throughout your life. So take your time before choosing your wealth management advisor. He or she may work within a wealth management firm, in a private bank, or independently. There are even chartered accountants who provide wealth management advice.
Our advice
Before choosing your wealth management advisor, take the time to read the following pointers.
Beware of salespeople: a wealth advisor will usually offer a free wealth review. That sounds tempting, but you will quickly realise that the only purpose of such a meeting is to sell you something. And for good reason: according to the AMF's annual key figures on Financial Investment Advisors, the vast majority of FIA-registered wealth management advisors are still paid through retrocessions from the companies that distribute their products. Those products, such as the former Pinel property schemes (closed to new subscriptions since 1 January 2025) or other tax-break products, are rarely the most profitable for the client.
The high-street bank: a setup to examine: the logical reflex would be to turn to your bank to manage your money. But your bank adviser is not a wealth management advisor in the strict sense. They handle hundreds of clients and do not have the time to give personalised advice. They also mainly offer the bank's own in-house products, which are often heavy on fees. The private banking arms of the large networks often offer standardised products; how far they personalise can vary from one provider to another.
Fee transparency, a central criterion: depending on how they are paid, some wealth management advisors can be encouraged to favour particular products. They tend to recommend the products on which they earn the most. You can go through an independent wealth management advisor (CGPI) to avoid that pitfall. Unlike a traditional wealth management advisor, they receive no retrocession and work on an open architecture. That means they are not limited to the products that pay them commissions. They generally charge fees or a flat fee. A wealth review with an independent wealth management advisor can cost around €1,000 to €2,000.
Feedback from people you know: do you know people who manage their wealth well? Talking to them can be useful, especially if they work with a CGP.
Use wealth management software: a dedicated platform can give you a consolidated, real-time view of your assets and liabilities.
Watch our Finary Talk with a high-net-worth wealth manager
Our founder welcomed Benjamin Durand, founder of a family office and a former trader, for a Finary Talk. He shared the high-net-worth wealth management techniques used for his wealthy clients and how to apply them to your own wealth. The replay is available below.
Why choose a wealth management advisor?
A wealth management advisor is an expert who helps structure investments, optimise taxation and prepare estate planning over the long term.
Wealth management concerns everyone. You should deal with it as early as possible, to start the tax clock on products such as the PEA and make the most of compound interest. There is no need to wait until you have millions of euros to start investing, quite the opposite.
There is no minimum level of wealth required to start working with a wealth management advisor. Premium wealth management offers (private banks, Finary One, family offices), on the other hand, have their own thresholds. Finary One is aimed at portfolios from €500,000 in investable assets. The private banking arms of the large networks generally start from €250,000 to €1 million depending on the provider. Family offices remain reserved for portfolios from €10 million upwards for a multi-family office.
Capital left solely in savings accounts such as the Livret A can see its real return limited over the long term. Returns are low and, after inflation, can turn negative. Some individuals choose to consider investing in the stock market. If you are not a finance expert or do not know where to start, an authorised financial adviser can help. Any investment carries risks, including a risk of capital loss.
Non-contractual document for promotional purposes. Finary One is Finary's private wealth management offer, reserved for investors with at least €500,000 in investable assets. Investing carries risks, including partial or total capital loss. Finary SAS - 58 rue de Monceau 75380 Paris 8 - ORIAS no. 21001279, supervised by the AMF and the ACPR.
How do you check that a wealth management advisor is reputable?
Checking that an advisor is reputable means verifying the ORIAS registration, membership of an approved professional association and professional indemnity insurance cover.
The advisory profession is regulated and strictly governed by the French Monetary and Financial Code. There is no "wealth management advisor certificate" as such. Even so, every wealth advisor must be registered with ORIAS (the single register of insurance, banking and finance intermediaries) and belong to a professional association. You can check your advisor's registration on the website of ORIAS.
France has four approved associations: ANACOFI, CNCGP, CNCEF Patrimoine (formerly the national chamber of financial investment advisers) and La Compagnie. Every French wealth management firm must belong to one of them.
Every wealth management advisor must also follow a set of procedures before and during the engagement, such as providing a DER (the initial engagement disclosure document) or signing an engagement letter. They must also take out professional indemnity insurance to cover their clients in the event of a dispute.
If you are not satisfied with your wealth advisor, you can contact their professional association or refer the matter to the AMF ombudsman.
Good to know : since 2018 and the application of the European MiFID II directive, every authorised financial adviser must disclose all the retrocessions and commissions they receive from selling products to their clients. They must also send you an annual document listing the fees they have received on your investments.Free wealth advice does not really exist
A wealth management advisor generally works on commission and on retrocession. You pay nothing directly to your advisor: it is the companies that distribute the investments they recommend that pay them.
The size of a retrocession varies by product: as a guide, around 0.4% on a life insurance euro fund, and up to several percent on some property or tax-break products, such as the former Pinel SCPI deals (a SCPI is a French non-listed real-estate investment fund, comparable to a REIT), closed to new subscriptions since 1 January 2025. Tax-break products remain among the most rewarding in commission terms, and therefore very popular with CGPs.
This pay structure explains why some advisors can be encouraged to favour particular products.
If you want to be sure your advisor is independent, you can opt for a CGPI. They are paid a flat fee or per engagement and receive no retrocessions or commissions from asset managers. They practise open-architecture advice: they can offer any product and have no economic interest in favouring particular ones.
Frequently asked questions
How do you find a good wealth management advisor?
The right wealth advisor is the one who offers advice that is personalised and suited to your situation. For portfolios from €500,000 in investable assets, Finary One offers a dedicated private wealth manager and a 360° view of your wealth. For smaller portfolios, you can manage your wealth online with Finary.
What does a wealth management advisor do?
The advisor supports you across every question affecting your wealth: investments, tax optimisation, inheritance and retirement planning. There are many different players in wealth management, so do your research to find out which one suits you best.
From what level of wealth should you consult a wealth management advisor?
The wealthiest clients manage their wealth with private banks, private wealth managers or family offices. Entry thresholds vary. From €500,000 in investable assets, Finary One gives access to a dedicated private wealth manager and to institutional-grade solutions.
What is the difference between a CGP and an FIA?
The FIA status (Financial Investment Advisor) is mandatory to give personalised advice on financial instruments (article L. 541-1 of the French Monetary and Financial Code). The term "CGP" is broader and refers to a professional who may combine the FIA, IOBSP, IAS and Carte T statuses.
How much does a wealth management advisor cost?
A traditional CGP charges nothing directly: they receive retrocessions and commissions on the products sold. An independent CGP (CGPI) generally charges between €1,000 and €2,000 for a wealth review, then fees or a flat fee for ongoing support.
What is the difference between an independent CGP and a bank adviser?
A bank adviser mainly offers their institution's in-house products and handles many clients. An independent CGP (CGPI) works on an open architecture, without retrocessions, and can recommend any product on the market without a conflict of interest.
Sources
AMF, list of professional associations approved for Financial Investment Advisors (FIA)
ORIAS, single register of insurance, banking and finance intermediaries
ANACOFI, number of FIA members
CNCEF Patrimoine, professional association of Financial Investment Advisors approved by the AMF
AMF, Key figures 2024 for Financial Investment Advisors
AMF, white list of crypto-asset service providers (CASP, "PSCA" in French), Finary SAS
Regulatory disclaimers: Marketing communication. Investing carries a risk of partial or total capital loss. Past performance is not a reliable indicator of future performance. This article is provided for information and educational purposes only; it does not constitute personalised investment advice, a buy or sell recommendation, or tax advice. Before investing, read the Key Information Document (KID) and, where relevant, consult an authorised adviser. Finary SAS, an investment firm authorised by the ACPR (no. 19283), member of AMAFI. Insurance broker registered with ORIAS (no. 21001279), member of the CNCGP (association approved by the AMF). Crypto-Asset Service Provider (CASP) authorised by the AMF under the MiCA regime, references no. A2026-026 and no. N2026-008.
