Decision makers. How would you describe the wealth management market?
Bastien Baron. Wealth management advice has a way forward, due to clients ’growing distrust of their banks’ advice, and also the low market share compared to Anglo-Saxon countries, for example. .
Over the past fifteen years, customers have gradually become more and more demanding, and at the same time the supervisory authorities have severely tightened regulations. All this has accelerated the development of the profession and its structuring, especially thanks to professional associations, groups of CGPs, but also to the training provided by universities and business schools in particular. Financial management has also become more complicated: in the early 2000s, a euro fund provided a return of almost 5% per year without the risk of losing capital. It’s been a long time coming. The services provided by the customers need to improve and above all go upmarket.
What about customers today?
Precisely, a new generation of advice has emerged for some time and is likely to shake up some code by returning to a pure support, first and foremost advice, while there is more great transparency of costs. This is a good thing for the client because this transparency, along with the relationship of trust it has built, allows him or her to follow a global asset strategy, and support in the long term.
“Our strong growth is to demonstrate the relationship of trust that binds us to our customers”
We are fully in tune with this movement and our strong development is to demonstrate the relationship of trust that binds us to our customers. We are also more accustomed to talking about “families” because the parents and children of our executive-executive clients and business leaders are always part of our approach.
You just created your company, what lessons did you learn from it?
A big part of the job is managing our clients ’risk at the financial, legal and tax levels. So the reality of starting an entrepreneurial adventure is just using what I’ve been doing every day for almost ten years. And, contrary to popular belief, I think shoemakers who are kind to their work are very well dressed!
Advising and working with business leaders has helped me in many aspects, especially in anticipating and accepting the most difficult times, while being proactive in achieving a goal that is ultimately constantly changing. It was a very good experience, which I will soon share in recruiting new collaborators, where Justae’s capital can be easily opened up if they want to invest themselves in the long term in this project. In short, just like financial markets anticipate markets, you need to always have a few steps ahead and be reactive to act as calmly as possible towards your goals.
What are Justae’s goals?
The first objectives were achieved first because the assets managed would exceed 20 million euros in less than a year, enabling the first recruits to be validated. They are also unclear because we are very selective in offering an irresistible service, as we have promised our customers.
In the longer term, the idea is to recognize the market as a benchmark player in the quality of our advice, our support, and with transparent and fair compensation. We want to maintain a high level of trust, through, among other things, biannual meetings before each asset strategy is reviewed in advance, then of course adjusted if necessary.
How did you come up with the name “Justae”?
After some research and brainstorming, “Justae” quickly became a brainless one. It is a Latin adjective meaning what is just, established, fair, in accordance with the law. It’s in the image of the structural values I want to launch.
“Justae will continue to freely choose its partners by favoring the interests of its customers”
Finally, I don’t want to join a larger structure that has its own home management company and offers its own real estate or financial solutions. Justae will continue to freely choose its partners by favoring the interests of its customers, with no link capital that could lead to an apparent bias.
What are your convictions about financially responsible?
Promoting socially responsible investments is a very good thing. For many years, it has been proven that it is possible to have returns even on the market line while in this prism. In fact, the fact that consumers are accepting responsibility is gradually more likely to form a virtuous circle because the companies that are ahead of this commitment benefit from better futures than those. ignored it.
On paper, everyone can be a winner, but you have to be selected on different labels, and even within them. Here Justae brings her skill to avoid the famous “green-washing”. We should not be fooled and the explosion in the number of funds labeled SRI, for example, should lead to the creation of more stringent labels. This is ongoing and we can only hope that the law will be reactive to continue to accompany the progress of this movement.
How is your practice different from others?
Justae does not intend to innovate the profession, but to restore its purest principles: technical skills to ensure quality advice and a certain freedom to provide the most effective solutions. Transparency and our human values enable others to create and maintain a long -term relationship of trust with different generations of our customers.
To be able to support us, we are surrounded by a network of experts (notaries, lawyers and chartered accountants) who share our values: our broad spectrum of interventions must not forget to show humility and knowledge. we that we cannot fully manage. all subjects. This is why we are also accustomed to calling specialists on specific themes, such as the art market and crypto-assets, which are asset classes that our clients prefer.
Interview by Clément Redon