French banks dominate the financial services distribution market and French customers traditionally have a good relationship with their banks. This brief looks at the extent to which financial advisers may be able to change this dynamic and gain share in this market, and whether this will create new distribution opportunities for product providers.

• This brief covers the French market but gives crucial background information about the wider European market
• It covers the market share held by financial advisers in the mutual fund and life and pensions markets and forecasts forwards
• It includes analysis of the market for financial advice in France, including types of advisers, key products and leading associations
• It contains survey information drawn from interviews with more than 20 key financial advice companies in France

The predominance of insurance or bank salesmen in the French market has made it difficult for financial advisers to establish themselves. One English IFA in the French market comments that French people do not grasp the concept of independent financial advice.

Mutual funds, protection life insurance, advisory/ discretionary equities and execution only equities dominate sales for French financial advisers. This concentration reflects the fact that the French financial advice market remains relatively undeveloped.

67% of financial advisers in the French market believe that financial advice is an increasingly important part of the distribution market. This shows optimism about the market's prospects. Datamonitor agrees with this sentiment and foresees the market share of financial advisers growing by 100% to 8% by 2009.

• Understand the attitudes and opinions of key players in this crucial distribution channel in order to market to it more successfully going forward
• Size the proportion of the life and pensions and mutual fund products currently being sold through this channel
• Assess the importance of this channel for distribution strategies going forward