Vellum is moving away from a still traditional market for the good of its customers.
Since 2018, following the transposition of the European MiFID II Directive into French law, the wealth management profession has been profoundly reconfigured. It is now divided into two distinct models, differentiated by the very nature of their remuneration and, consequently, by their degree of independence and integrity. Firms whose remuneration comes exclusively from fees paid by their clients fall under the status of Independent Wealth Management Advisor (CGPI) or Independent Multi-Family Office (MFO). This model mandates complete transparency: any commission received for financial intermediation, the implementation of investment products or solutions, must be fully returned to the client.
In this context, the primary mission of the independent financial advisor (CGPI) or Multi Family Office is clear: to defend the exclusive interests of their client, far removed from any logic of distributing high-commission products. Yet, only 5% of market players have opted for this demanding model, preferring to place the client's interest above all other considerations. The majority of the sector, private banks, financial networks, brokers, and traditional advisors, continues to favor remuneration indexed to the products distributed, often with a lack of transparency that benefits the institutions more than the families they advise.
A market still largely dominated by standardized and highly commissionable offers
Data from the independent institute Aprédia highlights a telling reality:
70% of the revenue of wealth management advisors comes from commissions on the financial products they recommend, and 18% from commissions from real estate intermediation, particularly within the framework of tax relief schemes.In this context, the majority of players are forgoing billing for audits or asset assessments: nearly 88% of them rely on automated software that generates standardized diagnoses, often identical from one client to another.
The market thus remains dominated by low value-added services, focused on product distribution rather than genuine, independent, and tailored strategic support.Modernized management and monitoring
92% of our interactions once the initial process is completed take place through our encrypted system, in real time, without the need to make an appointment.
Our own system
We develop and maintain our system in order to maintain the highest level of quality in terms of security and anonymity for our clients.
A Simple Process
3 steps from analysis of your assets and finances, creation of strategies/structures, and finally: implementation.
Management with traditional values adapted to the age of Artificial Intelligence.
Vellum's Services
A wide range of services allows all types of clients to benefit from our expertise. Each client is unique, and therefore no two will have the same structure or strategy. We combine our algorithms, AI, and expertise to create the best solutions tailored to the needs of each family, individual, or business.
Vellum Finance & Patrimoine belongs to the very select group of truly independent Multi Family Offices in France. Our services, based exclusively on fees, guarantee complete independence and protect our clients from any conflict of interest, thus enabling personalized, demanding, and long-term support.
A multidisciplinary team at the service of your assets
Our team, with its complementary skills, supports families in building, securing, preserving and passing on their assets.
Organised into specialized hubs, the Multi Family Office offers a comprehensive view and 360-degree support.
As the true architect of your wealth management organization, Vellum defines your strategy and manages its implementation alongside its network of elite partners, lawyers, notaries, and accountants.