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The French Financial Advice Market 2005Product Type: Market Research ReportPublished by: Datamonitor Published: March 2005 Product Code: R313-8401 Description IntroductionFrench banks dominate the financial services distribution market and French customers traditionally have a good relationship with their banks. This brief looks at the extent to which financial advisers may be able to change this dynamic and gain share in this market, and whether this will create new distribution opportunities for product providers. Scope This brief covers the French market but gives crucial background information about the wider European market It covers the market share held by financial advisers in the mutual fund and life and pensions markets and forecasts forwards It includes analysis of the market for financial advice in France, including types of advisers, key products and leading associations It contains survey information drawn from interviews with more than 20 key financial advice companies in France Highlights The predominance of insurance or bank salesmen in the French market has made it difficult for financial advisers to establish themselves. One English IFA in the French market comments that French people do not grasp the concept of independent financial advice. Mutual funds, protection life insurance, advisory/ discretionary equities and execution only equities dominate sales for French financial advisers. This concentration reflects the fact that the French financial advice market remains relatively undeveloped. 67% of financial advisers in the French market believe that financial advice is an increasingly important part of the distribution market. This shows optimism about the market's prospects. Datamonitor agrees with this sentiment and foresees the market share of financial advisers growing by 100% to 8% by 2009. Reasons to Purchase Understand the attitudes and opinions of key players in this crucial distribution channel in order to market to it more successfully going forward Size the proportion of the life and pensions and mutual fund products currently being sold through this channel Assess the importance of this channel for distribution strategies going forward Table of Contents TABLE OF CONTENTSExecutive summary 5 Introduction 6 Mechanisms of drug withdrawals 6 Recent withdrawals 9 Baycol (cerivastatin) 9 Rezulin (troglitazone) 12 Posicor (mibefradil) 14 The impact of drug withdrawals 17 Changes to the drug approval process 17 Safety investigations 18 Consequences for pharmaceutical companies 20 The future for cardiovascular drug approvals 21 Conclusion 22 Case study: Baycol (cerivastatin) 23 What will be the effect on other statins? 24 Big blow for Bayer but low impact on global statin market 24 Reactions in the US to the withdrawal of Baycol 27 EU review of statins 28 The future for Baycol 29 Appendix 31 Datamonitor's Cardiovascular Business Unit 31 Bibliography 31 Association and company links 32 Further reading 33 |
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