We have learned about the partnership between Abbove and Simulabox, which highlights your ambition to further expand your services internationally. We would love to know more, but before that, could you remind us what the Abbove platform offers to the 1,000 wealth advisors who use it and the 33,000 families they serve in Europe?
Abbove is a platform that allows wealth advisors to offer a comprehensive wealth planning service to their key clients. It places the advisor at the center of the client's choices and wealth strategy, anchoring the relationship for the long term.
The platform’s logic is based on four key pillars:
- Understanding: The platform organizes the collection of wealth data between the client and the advisor and models the information related to the family’s wealth through a collaborative interface. Abbove consolidates all the data, providing a clear and practical overview for an optimal understanding of the wealth, its structure, and its implications.
- Defining objectives: Through in-depth discussions between the client and their advisor, wealth objectives are defined. The approach is systematic, with the creation of objectives, action plans, and their monitoring according to the client’s aspirations and the life stages they are in.
- Advisory: Abbove provides wealth management and advisory tools directly connected to the wealth data to ensure reliable and efficient recommendations (whether it’s advice, taxation, or financial products) tailored to the client’s needs.
- Monitoring: Continuous client relationship monitoring is ensured through constant tracking of the situation and personalized wealth reports.
Abbove digitalizes this process end-to-end, allowing advisors who adopt its technology to offer these services systematically and efficiently to a broader clientele, whereas such services are often provided in a more artisanal and less optimized manner for a limited number of clients.
Why partner with other market players in this context?
It is challenging for wealth planning platforms to develop an offering in multiple countries, as the wealth, tax, and civil law particularities unique to each jurisdiction complicate the task. Abbove became aware of this challenge very early on and adapted its strategy to offer a multinational solution far beyond its original borders.
To do this, we focused on what we do best: developing an engaging client-advisor platform that allows for the creation of a complete, reliable, and structured wealth data model that can operate in each country. This wealth data model is the cornerstone of successful wealth planning advice, and we have chosen to focus our efforts on this value proposition, which opens doors to the legal and fiscal systems of nearly all countries.
Thus, we decided to develop partnerships with local tax calculation engines that meet our strict criteria. These simulators securely and automatically receive wealth data from Abbove to feed their engines. The development of wealth (inheritance) and tax scenarios, tailored to the specificities of each country, can then be carried out, guiding the advisor in their recommendations to the client and validating our “multinational” approach.
This approach allows us to cover the entire wealth planning advisory value chain in the countries where we operate, while maintaining a unique user experience.
Why did you choose Simulabox as a partner?
Simulabox is a leading software in the wealth and tax fields in France. It was developed by an experienced tax specialist, Delphine Abergel, and its platform is both powerful and precise, while remaining very intuitive. We compared many solutions, and this choice became obvious. Our teams have been working together for several months to make this partnership possible. There is a genuine "fit," and we are proud of what we have achieved.
Moreover, our services are complementary, and we are developing a truly "win-win" relationship. We bring more clients to Simulabox, and Simulabox enhances our value proposition in the French market. As a result, Abbove offers a more complete and improved solution compared to the traditional players in the French market.
Are there other partners who will enhance your service offering?
Yes, we are continuing this partnership approach to offer more services to advisors using Abbove by partnering with other so-called “expert” software: bank and insurance account aggregators, portfolio consolidation and management tools, etc. These software systems are also interconnected with the Abbove data model, allowing for the seamless exchange of information without needing to re-enter data. They work together in a coherent ecosystem and complement our offering to provide more possibilities within the Abbove environment.
Why France?
We have been present in France for some time. Our wealth data model has matured, and there was a demand from our French clients to address these issues through our simulators. Furthermore, wealth planning is highly active in this market. There are many wealth management advisors (called CGP), accounting firms, notaries, and private banks looking to evolve their business toward premium family office-style wealth planning services for their key clients. Abbove offers a modern, competitive, and comprehensive alternative to the historical players in the market.
What’s next?
The French market is deep. We have a lot of work to do, but that doesn’t stop us from preparing to launch in new countries following the same approach. Our ambition is to become the first pan-European wealth planning platform.
