In the news
Millennials stay true to their investment values, interview with Edouard de Saint Pierre, Managing Director of Lombard Odier France
Interview with Edouard de Saint Pierre published on 6 October 2021 in Décideurs Magazine
Today’s wealth management market has a plethora of easily accessible information. Discover more on how private banks have tailored their commercial, Environmental, Social and Governance (ESG) and digital strategies to win the hearts and minds of a new generation. A generation made up of start uppers, serial entrepreneurs, influencers and heirs.
For millennials, seeking out meaning and transparency is key. How do you cater to their needs?
Millennials have very clear ideas about the world. They want their capital to perform while remaining true to the values that are important to them. We believe that sustainable investing is a valuable source of returns. At Lombard Odier, we prioritise investing in companies that understand the challenges we are facing today and adapt their business models accordingly. Millennials are more value sensitive than price sensitive and engage in extensive fact-checking before making decisions. Their trust is won by offering transparency on both investment impact and fees.
What digital strategies have you used in order to win over millennials?
Our strategies are primarily based on digitally managing our clients’ interactions and their administration. We emphasise mobile tools in order to meet their immediate demands. Also, we provide our clients with investment convictions and extra-financial content that outlines the impact of our portfolio management. Furthermore, our digital channels enable our clients to better understand how their wealth interacts with the world around them.
What do you have to consider when supporting start uppers and entrepreneurs?
When supporting entrepreneurs, our role is educational. We share our wealth management expertise in areas that they may not have anticipated but that will need to be considered before a sale or cashing out – such as providing protection for their spouse and family. We also strive to understand and become a part of their ecosystem by opening up our networks to them. Following this ethos, we have been the preferred banking partner for the entrepreneurs of France Digitale since 2016.
With fierce competition in the wealth management space, what are the advantages of using a private bank?
Our bank is one of the best capitalised in the world. This means that as well as meeting the requirements that millennials prioritise, Lombard Odier is a stable, solid and independent partner for them. When it comes to sustainable investing, this expertise and experience allows us to apply our own methodology in selecting companies as well as deploying the resources needed to provide our clients with detailed and transparent reporting on the impact of their investments.
Important information
This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.
Read more.
share.