Financial Brokerage and Consulting

Financial brokers and financial consultants require a special license under German law to trade financial assets on behalf of their customers or to advise them on such products. Since the implementation of the Small Investors’ Protection Act (KlAnSG) in 2015, so-called participatory loans (see participatory loans) andsubordinated loans have also been governed by the Act on Asset Investments, so that trading with and/or advising on these financial products also require a permit. In addition, financial brokers and consultants are required to register in the German financial services brokerage register (Vermittlerregister)before they can start their business. You are welcome to call us for sound legal advice regarding the prerequisites for the licensing and registration procedures. 

As a financial broker or consultant, you also have to comply with a range of legal provisions on client information, documentation and consulting. Investors have to be advised on any remuneration and benefits you receive as a consultant or broker, on the risks the investments in question entail, on costs and ancillary expenses, and on any conflicts of interests that might occur. To avoid any liability claims, we recommend the use of predefined forms.