WeSave modernizes the codes of wealth management
In partnership with the leading European asset management company Amundi, WeSave intends to revolutionize the way people save, thanks to its robo-advisory tools.
WeSave’s primary vocation is to allow anyone to access a trading and investment platform, all online. To achieve this, the fintech has brought together wealth management experts and engineers/data scientists to create a relevant and cutting-edge digital tool.
WeSave has divided its offerings into 4 management solutions:
- Inheritance life insurance contract: in the event of death, the beneficiaries will receive the capital without inheritance tax. The donation of this life insurance contract is impossible as long as the insured is still alive, and the capital is destined to be redeemed or transmitted. This contract can be dismembered as soon as it is subscribed, and not during its effective duration.
- Heritage capitalization contract: in the event of death, the capital cannot be exempted from inheritance tax. The contract will be transferred to the heirs while keeping the tax anteriority of it. The subscriber can “give” the contract during his lifetime, in a classic or dismembered way. This dismemberment can also take place during the course of the contract. It can also take place directly at the time of subscription as in the case of the life insurance contract mentioned above.
- A 100% Euro fund profile “Suravenir Rendement”: to put it simply, this solution protects users’ savings from the volatility of the financial markets, in addition to guaranteeing a return each year. This offer is intended for the most cautious savers who wish to keep their precautions during their investments.
- WeSave Family: this offer is designed to give the option to build up financial capital, even for minors. It allows young people to become aware of financial investments and savings by making this accumulated sum available on the day they come of age.
A quick note about WeSave’s fees: aware of the popularity of low fees in today’s financial ecosystem, the fintech aligns itself with this need: only 1.3% of management fees per year are applied to WeSave Patrimoine contracts. No entry or exit fees are charged for capital.
WeSave History and Partnerships
Created in 2012 under the tutelage of Anatec, WeSave will wait for the participation of Amundi (Crédit Agricole Group) to do its first beta-testing in 2015. WeSave’s solutions are presented to a small panel of users.
Obliged to adapt to the consumption habits of their potential customers, WeSave will offer in 2016 the subscription to its life insurance via the mobile support. A few years of growth will pass to see the appearance in 2018 of the WeSave Family solution quickly presented in the previous part of this article.
2019 was a very important year for WeSave and Anatec, which will see the trust provided by Amundi continue to grow. Originally a 49% shareholder in WeSave, Amundi will buy out the entirety of the robo-advisory fintech’s capital. Amundi handles no less than €1.4 trillion in assets, and therefore has confidence in Anatec for the future of their business.
WeSave has proven that digitally accessible wealth management advisory solutions are part of the growing needs of people who are interested in saving and investing. The inherent inaccessibility of this field is disappearing to make way for easier and more understandable ways to get interested and even involved. The robo-advisor market is booming, with a dozen young fintechs looking to capture the same market as WeSave.