Vincent Aurez and Cyprien Delmeule, respective leaders of Figen AI and Wealthcome - Vincent Aurez, leader of Figen AI & Cyprien Delmeule, leader of Wealthcome

Wealthcome is embracing artificial intelligence (AI). The Bordeaux-based company, which offers a suite of SaaS (software-as-a-service) management software to financial advisors, is partnering with Figen AI, the first AI assistant specifically developed for the profession. This move aims to strengthen its position in the wealth management advisor (CGP) market after definitively abandoning the retail segment. While the profession is still traumatized by the consequences of the Harvest cyber-attack, Wealthcome and Figen AI want to provide assurances regarding their infrastructures.

Halving the time spent analyzing information

The partnership revolves around two main axes. A subscription of 99 euros per month (for the first year) will grant access to both platforms. Wealthcome users will thus be able to utilize Figen AI's AI agents, which have broad functionalities: automatic detection of tax opportunities, generation of regulatory reports, specialized conversational agents, etc. The two fintechs have also created a common explanatory AI module for auditing financial recommendations. They are expected to announce soon the deployment of a "digital twins" feature, allowing simulations based on clients' actual allocations. "The integration of Figen AI should halve the time spent analyzing information and preparing comparison elements," promise the partners in a statement. The functionalities of both companies will gradually be offered on both interfaces, so that their respective users can utilize all tools within a single platform.

For Figen AI, this partnership is a first. The fintech, launched earlier this year by Vincent Aurez, former associate director of innovation and sustainable development at Novaxia, Maxime Perdu (co-founder of Money Walkie), and Nicolas Paulus (co-founder of the web agency Antadis), had previously offered its services exclusively directly. The API connection to existing platforms is another lever for its development: "Artificial intelligence disrupts today's professions, but for it to be used effectively, it must be integrated into business tools. Everyone has heard of ChatGPT, but not everyone uses it daily at work. With this partnership, we reduce the adaptation barrier for CGPs: they remain on an interface they know and can choose to optimize the tools they already use with AI." Less than three months after its launch, Figen AI already claims just under 400 client companies.

Wealthcome, for its part, is on its second partnership with a solution provider. Last September, it announced the integration of the E-Dixit software from the Lefebvre Dalloz group into its catalog. This wealth management assistance tool supports CGPs in creating wealth assessments, investment simulations, and tax optimization calculations... "Figen AI is a daily assistance tool for advisors. Its agents allow them to quickly find personalized information based on client cases. E-Dixit generates documents such as wealth audits, ready to be presented to clients," distinguishes Cyprien Delmeule, its leader.

This new alliance aligns with Wealthcome's goal of becoming a "one-stop shop" for CGPs, a segment it began addressing in 2023. A year earlier, the start-up had launched directly to the general public. But about 28,000 clients later, its leaders are steering it towards a strategic BtoB shift, managing to direct a small portion towards CGP partners. To date, it claims 300 client companies, representing approximately 2,500 wealth management professionals and 20 billion euros in aggregated assets.

Earlier this month, Wealthcome also announced a fundraising of 7 million euros, primarily from Blackfin Capital Partners.

Learning from the Harvest incident

The announcement of the partnership between Wealthcome and Figen AI comes amid a downturn for CGPs. The profession has been operating at a slow pace since Harvest, the main provider of wealth management software, fell victim to a cyber-attack and had to shut down its services while resolving the incident. The timing is therefore opportune for its young competitor Wealthcome to try to carve out a place in this quasi-monopoly market. "The Harvest cyber-attack was a wake-up call about the threats facing wealth advisory players," acknowledges Vincent Aurez, who specifies that Figen AI does not host any client data. "We offer our AI agents on our own platform but also by connecting to our clients' and partners' tools, infrastructures, and servers, fully respecting their PSSI." Their hosting is outsourced by Wealthcome to three different providers. "In the event of an incident with a host, we can redeploy the entire production in fifteen minutes," assures Cyprien Delmeule.