Saxo Brings PartnerConnect to France, Targeting Independent Wealth Managers
Saxo Bank has launched PartnerConnect in France, expanding the Danish broker’s push into digital wealth services for professional clients at a time when independent managers face rising regulatory and technology costs.
The platform, which the group has been rolling out in other markets since 2022, offers asset managers and financial advisers access to a fully digital brokerage and custody system covering more than 70,000 instruments. PartnerConnect also bundles reporting tools, digital onboarding and back-office automation.
“We are delighted to deploy our institutional offer in the French market,” said Adam Moltrup, head of institutional business for France, Central and Eastern Europe and Switzerland. He described the system as a way for managers to “digitise and grow their business.”
The French launch reflects years of groundwork. Saxo entered the market in 2008 by acquiring Paris-based FX broker Cambiste, later rebranded as Saxo Banque. Its reach deepened in 2019 through the takeover of Dutch broker BinckBank, which carried a sizeable French client base. Those steps gave Saxo a local presence and regulatory footprint to support professional services.
PartnerConnect is pitched directly at France’s fragmented network of independent advisers and external asset managers, who must comply with complex MiFID II reporting and governance requirements. By acting as both broker and custodian, Saxo says it can reduce the number of counterparties these firms deal with, while delivering consolidated reporting to clients.
The timing comes as Saxo is still working through regulatory scars in continental Europe. In July, France’s markets watchdog fined the bank €300,000 for breaches linked to legacy systems at the former BinckBank branch. Earlier this year, Dutch regulator AFM imposed a €1.6 million penalty for violations predating Binck’s integration into Saxo. Both cases involved client information failures.
The group has sought to reassure professional partners by stressing compliance features in the PartnerConnect stack, including automated disclosure and transparent fee modules.
Financially, Saxo is in a position to expand its institutional business. In the first half of 2025, the bank reported net profit of about €73 million and client assets of €118 billion, a record level. Total client numbers reached 1.4 million, up sharply from the previous year. Management has consistently highlighted growth in white-label and partner channels as one of the bank’s key levers alongside its retail SaxoTrader platforms.
For French advisers, the tradeing point is less the headline features and more the plumbing. PartnerConnect offers front-end access to equities, ETFs, bonds, futures, options, FX and CFDs, while the back-end provides straight-through processing, digital onboarding and flexible fee handling. Custody and broker services are consolidated at Saxo Bank, which is licensed as a bank in Denmark and branches into France.
Competition is strong. Local banks, global brokers and fintech providers are all trying to lock in independent advisers with B2B stacks. Saxo’s wager is that combining global market access with a bank-grade custodian will stand out in France, where smaller wealth firms are under pressure to digitise operations.
The move does not reinvent Saxo’s offering but adapts it to one of Europe’s most complex wealth markets. For a company that has already faced scrutiny over client reporting lapses, PartnerConnect is also a chance to show regulators—and potential partners—that its systems can keep pace with the demands of professional advisers.
