Back from Switzerland, where he opened the representative office of Cardif Lux Vie, Juan Jose Rodriguez Garcia talks about his objectives following his recent appointment as the company’s Chief Wealth Management Officer. He intends to seize the opportunities offered in a rapidly changing international context.  

 

What are your priorities for the development of Wealth Management at Cardif Lux Vie? 

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Our main challenge is to remain attentive to our partners and clients, responding ever more closely to their needs. In a constantly changing environment and a complex international context, client demand is evolving and requires the development of tailored solutions. We have to be very agile, especially when it comes to regulatory issues. In this respect, we have a great deal of expertise with a multidimensional approach (legal, tax and asset engineering) and can respond to issues in many European countries. The second pillar of our development is the continuation of our digital transformation. Partners now benefit from a completely digital subscription, redemption, arbitrage and top-up payment process for the French and Belgian markets. The achievements of our Digital Squad are being implemented at a steady pace and are gradually being extended to the other regions we cover. The third pillar is linked to social and climate issues. The entire life insurance ecosystem is becoming increasingly sensitive to these issues and we must comply with the numerous regulations that have come into force over the last two years. Our objective is to facilitate the integration of our partners' ESG strategies and thus to offer our clients more sustainable products. 

 

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“Today, supporting our partners means knowing how to be solid in our expertise and offering solutions that give meaning to our clients' savings.”

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How are the needs of your customers and partners changing? 

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The needs of customers have changed significantly. They are increasingly interested in a more diversified and sophisticated offer. The unit-linked solutions offered within Luxembourg life insurance policies meet these challenges. Private equity is highly popular because it allows clients to invest in the real economy and to seek returns that are disconnected from the traditional markets. What remains unchanged, however, is the level of support that partners expect. Today, supporting our partners means knowing how to be solid in our expertise and proposing solutions that give meaning to clients' savings. Moreover, our quality of service and responsiveness remain crucial issues for our partners. This is always at the heart of our priorities and for this reason, we are organised with teams constituted by market, benefiting from transversal and multidisciplinary expertise, with a panoramic vision of the different legislations. 

 

What risks and opportunities do you see for Cardif Lux Vie in the longer term? 

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In recent months, there has been a radical change in client behaviour, with the emergence of short-term objectives. After a long period of low or even negative interest rates, we face the risks of a rapid rise in bond rates. Cardif Lux Vie must adapt to this new demand by changing our offer. For example, we are proposing a boosted interest rate offer for our General Fund or the integration of term deposits within the Internal Funds. However, we must never lose sight of the fact that in life insurance, long-term vision is better for our clients' investments.