Wealth planning plays a central role in the management of assets and the intergenerational transfer of wealth for both families and businesses. In 2024, it continues to be a key area for meeting a growing diversity of needs, from the simplest to the most complex, within a strict regulatory framework. In Luxembourg life insurance, it is one of the pillars of the offering to customers because of its flexibility and its ability to meet a wide variety of objectives.
Wealth planning plays a central role in the management of assets and the intergenerational transfer of wealth for wealthy clients.
As many needs as clients, but a common objective
All wealth management clients, whatever their profile, share a common need: to benefit from active, personalised support in structuring their wealth to optimise and secure their assets.
The challenge lies in combining expertise with an innovative offering. And this is where Luxembourg has key strengths: over the years, it has become a , offering a wide range of tailor-made solutions to an international clientele.
Cutting-edge technical expertise to reconcile expectations and regulations
Increasingly stringent regulations provide a framework for, and sometimes limit, the solutions available. However, this framework highlights the importance of cutting-edge expertise capable of designing solutions that comply with constantly evolving European and local regulations while meeting customer expectations.
In addition to the , wealth management customers have access to contracts. "This ability to offer a variety of products, combined with 'multi-local' expertise such as that of OneLife, means that assets can be structured efficiently, while offering robust alternatives in the face of demanding regulations," explains Gonzalo Garcia Perez.
Proximity: the key to tailor-made solutions
Each client operates within a legal, tax and inheritance framework specific to their country of residence. Successful wealth planning is based on an in-depth understanding of the local context, from which it follows that solutions must be tailored to reflect that context. This customisation is one of the crucial elements of customer satisfaction.
This localised approach requires close collaboration with local experts, particularly lawyers and tax specialists. Not only does it enable us to design tailor-made solutions, it also strengthens the credibility of the players in the sector. Far from a one-size-fits-all approach, this customisation guarantees a response tailored to each customer and consolidates the reputation of wealth management professionals.
Innovating to meet expectations
Wealth planning cannot be satisfied with traditional solutions. "Although Luxembourg is renowned for its traditional products, such as life insurance and capitalisation contracts, it is crucial to explore new options to meet emerging needs and stand out from the crowd," adds Gonzalo Garcia Perez.
The opening of branches in France and now Belgium illustrates OneLife's commitment to innovation. These historic markets enable us to offer a different approach and a broader range of products, while remaining even closer to our customers. Similarly, the introduction of pension products in the Nordic countries shows how targeted offerings can capture new segments. "In our view, the key to success is to have an offer that is specific to each market," says Gonzalo Garcia Perez.
Wealth planning remains a key discipline for supporting customers in a complex and changing environment.
Trends in Luxembourg life insurance
The outlook for the future is promising. The emergence of European pension products and high death cover contracts opens up new opportunities to meet customer expectations and anticipate future needs. "These solutions, which are still being developed, reflect a constant desire to renew our offering in order to maintain the interest in and appeal of Luxembourg life insurance", concludes Gonzalo Garcia Perez.
Wealth planning remains a key discipline for supporting customers in a complex and changing environment. Proximity, local adaptation and innovation are the pillars of a robust offering that meets these varied and constantly evolving needs.
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