Two years after a reform that shook up the entire ecosystem, the landscape of insurance, banking, and financial intermediation is returning to a state of calm. Behind this apparent stability, profound shifts are redefining roles: the rise of independent financial advisors (IFAs), the consolidation of agents, and the retreat of credit. The ORIAS 2024 report speaks volumes about the future of wealth management distribution and the challenges facing financial planners, life insurers, and private bankers.
A market coming to terms with the reform
The 2024 annual report from ORIAS (www.orias.fr), published in September, confirms the end of the crisis. Following the decline in 2023 (a 2.6% drop in registered intermediaries), the registry is showing a slight uptick. At the end of 2024, it included nearly 70,000 professionals, for 118,308 registrations, representing a 1% increase year-over-year. The market has thus absorbed the shock of the 2022 brokerage reform and is entering a phase of consolidation.
Orias: the one-stop shop for intermediaries
Since 2007, Orias has maintained the registry for intermediation professions. Initially focused on insurance, it now also covers financial advisors (CIFs), credit brokers, and crowdfunding operators. In 2024, it processed over 61,000 requests, with processing times reduced to 4 days for a registration and 2 days for an amendment. With 2.24 million visits to its website, it has become a key reference point for the entire ecosystem.
Insurance: The Rise of Agents
Insurance remains the cornerstone of intermediation.
Life insurance brokers are seeing slight growth (+0.9%).
General agents have stabilized (+0.3%).
Insurance agents are surging by 19%, a direct result of the consolidations carried out by insurers.
Intermediary agents are up 2.5%.
The trend is clear: insurers are betting on more flexible and widespread networks, at the expense of traditional brokerage.
CGP and CIF: the value of comprehensive advice
The CIF status continues to grow (+5.1%, 7,054 registrations). For CGPs, it is becoming a strategic asset: it allows them to offer an integrated approach, combining life insurance, credit, and financial allocation.
The profession is becoming more structured: 63% practice within a firm, the average age is 50, and nearly 4 out of 10 intermediaries hold multiple designations. The hybridization of models is emerging as the new norm.
Credit: a weakened link
Conversely, credit brokers continue to decline (-5.1% in 2024, following -9.6% in 2023). Intermediary agents are following the same downward trend (-2.9%), while exclusive agents are seeing slight growth (+1.5%).
In a sluggish and constrained real estate market, wealth management advisors will need to explore new financing solutions, such as Lombard loans, private debt, and alternative financing, to continue supporting their clients.
Compliance: A Mark of Credibility
Orias is also strengthening its oversight role: 27,343 criminal background checks were conducted in 2024, resulting in a few refusals of registration. Professional liability insurance coverage limits have also been raised to €1.56 million per claim and €2.31 million per year. These stricter requirements bolster investor confidence and highlight the most rigorous players.
Toward more selective and strategic intermediation
The 2024 report presents an indisputable finding: the French intermediation market is not stagnating; it is transforming. Financial Advisors (CIFs) are asserting themselves, agents are taking the reins, and credit is losing steam.
For family offices, private bankers, life insurers, and asset management firms, the priority is clear: support the strongest partners, help them build their capabilities, and invest in models that combine compliance, innovation, and added value.
