As inflation, economic uncertainty, and demographic shifts force savers to rethink their wealth management strategies, a survey conducted by the French Association of Financial Management (AFG) and the consulting firm ELABE highlights a persistent paradox: the French aspire to better manage their savings but lack the guidance needed to do so effectively. This lack of financial literacy hinders their commitment to long-term investment strategies and fuels persistent inequalities.
A keen awareness of their shortcomings
According to the study, 70% of French people believe they have poor financial literacy. This striking figure reflects a widespread unease regarding key investment concepts, whether it be diversification, investment horizon, or risk management. This lack of knowledge does not affect all segments of the population equally: the gaps are particularly pronounced between men and women, as well as across socio-professional levels.
This deficit results in unstructured saving behaviors: only 13% of French people capable of investing adopt a rigorous approach—regular savings, a defined investment horizon, and clear return objectives. More than 8 out of 10 therefore do not apply the basic principles of effective wealth management, which compromises their ability to build capital or plan for retirement.
A tenuous link between investment horizon and chosen products
The study also highlights a poor understanding of the link between investment horizon and types of financial vehicles. Many savers opt for products unsuited to their goals due to a lack of clear guidelines. Short-term thinking remains dominant, even when it comes to long-term projects such as retirement planning or buying real estate.
This situation creates a vicious cycle: without a strategy, savers take few risks but fail to benefit from the returns that could secure their future. This paradox is all the more concerning given that the French express a genuine desire to better understand and manage their savings.
A growing interest in financing the real economy
Despite this lack of technical knowledge, the French public’s economic intuition is far from irrational. Nearly 60% of them believe it is essential that their savings contribute to financing French and European companies. A majority also supports a differentiated tax system that is more favorable to investments made within the European Union.
Equity products, often perceived as risky, are gaining credibility: 2 out of 3 French people consider them to offer a good risk-return profile in the medium to long term. And investment funds appear to be an accessible, diversified, and safer solution than direct investments in securities. This perception suggests significant potential if the right educational tools are made available.
Toward Financial Education from an Early Age
The demand for financial education is massive. 65% of French people, and up to 80% of those aged 18–24, want these concepts to be taught starting in school. This desire for education goes beyond a simple need for information: it reflects a desire to regain control over one’s financial decisions in a world perceived as increasingly complex.
Younger generations, in particular, favor modern formats: videos, simulators, mobile apps… 66% of 18- to 24-year-olds find these tools more practical and engaging. Digital technology thus emerges as a key driver for making financial concepts accessible to all.
A Still Traditional Trust, a Role for Field Professionals
In a landscape of dense and sometimes unclear information, the French continue to turn to established sources: their bank, a licensed advisor, public authorities, or even their close circle of friends and family. Conversely, influencers (79%) and artificial intelligence (68%) are still largely viewed with suspicion—a finding that holds true even among the youngest demographics.
This mistrust opens up a major opportunity for financial advisors, wealth management advisors, family offices, and banking networks, which benefit from established credibility. More than ever, their mission extends beyond wealth management: it encompasses education, guidance, and the transmission of trusted sources.
The ELABE study highlights a France that is aware of its shortcomings, curious, and ready to move forward. The need is there, and so is the willingness to listen: now is the time for professionals in the field to establish themselves as trusted, accessible partners.
