Frequently asked questions

1.Why should I opt for fee-based advice when free advice is also available?

Free advice offers are always linked to the recommendation of products for which the adviser receives a commission. These costs are paid exclusively by you, the client, and are often hidden and invisible. In comparison, paid-for advice may cost more initially, but over the years you will pay at least 3 to 5 times as much - if not more - due to these hidden commissions and fees for free offers.

2. What is fee-based advice for financial investments?

Fee-based advice for financial investments means that you as a client pay a fixed fee for the advice you receive, regardless of the financial products that are recommended to you. The advisor does not receive any money from product providers or banks, but is only paid by you for their time and expertise.

3. how does fee-based advice differ from commission-based advice?

In the case of commission-based advice, the advisor receives remuneration from the product company for recommending financial products. This can lead to conflicts of interest, as the advisor may be more likely to recommend products that offer high commissions. With fee-based advice, there are no such conflicts, as the advisor is only paid for their advice, not for selling products.

4 What advantages does fee-based consulting offer me?

• Personalised advice: The advisor can make recommendations that are truly tailored to your personal goals and needs without any external conflicts of interest.

• Independence: The advisor is not incentivised to recommend certain products to you as he does not receive any commission.

• Transparency: You know exactly what the consultation costs and what fees are incurred.

5. what are the costs of fee-based counselling?

The costs for a fee-based consultation can vary and depend on the complexity of the consultation and the duration of the discussions. A fixed fee per hour or a lump sum for a comprehensive counselling package is often agreed. You will receive a clear overview of the costs incurred in advance.

6. What happens if I decide to buy a financial product after the consultation?

With fee-based advice, you are not obliged to buy specific financial products. The advisor only recommends products that suit your financial goals. If you decide to buy a product, you have the freedom to do so yourself without the adviser receiving any commission.

7. How can I guarantee objective advice?

Objective advice is guaranteed by the fact that the advisor does not receive any commission for the sale of products. They are only interested in your financial future and your success. To ensure that your advisor is truly independent, you can also ask about their licence and any conflicts of interest.

8.What legal requirements must my fee-based advisor comply with?

A qualified fee-based advisor should have the appropriate training and licence, in particular a licence in accordance with Section 34h GewO, which authorises them to provide independent advice on financial products. In addition, it is important that they have extensive knowledge and experience in the entire economic and financial world, as these areas are closely linked.