Squair advises Financiel in its merger with the Astoria Group

Squair (Amandine Rossignol) advised the partners of Financiel, an independent wealth management consulting and insurance brokerage firm based in Montpellier, in connection with its merger with the Astoria Group, a leading player in wealth management in France.

In this transaction, Squair worked alongside the directors and partners of Financiel to legally structure the merger, negotiate and secure the legal documentation.

Founded in 1998 by Guy Portales, Éric Pace and Christophe Tesson, former members of the UAP (Union des Assurances de Paris), Financiel has been supporting clients made up of business managers, self-employed persons and individuals for more than 25 years. The firm was built around an independent model and recognized expertise based on two complementary areas: wealth management (life insurance, real estate products, euro funds, bond solutions, structured products) and insurance brokerage (P&C and Health/Providence) dedicated to the coverage of individual and professional risks. Based in Montpellier, Financiel relies on a team of 8 employees. As part of the merger, the managers are joining the Astoria Group as partners in order to ensure the continuity of customer support, the transmission of insurance brokerage expertise and the future development of the business.

This merger illustrates the dynamic of consolidation in the wealth management sector and responds to a logic of complementarity of expertise: it allows the Astoria Group to significantly strengthen its skills in P&C and Health/Providence, while offering Financiel the support of a structured group to continue its development, while respecting its identity and its regional roots.