Apply for a license as a fee-based financial investment advisor

Service Description

As a fee-based financial investment advisor, you advise on financial products for which you receive a fee from the client. You are independent of the product provider and therefore may not receive any commission or other benefits from the provider of the financial products.
If, on the other hand, you work on a commission-based basis, you must apply for a license as a financial investment broker instead.

As a fee-based financial investment advisor, you are limited to certain financial products by a so-called exemption from the German Banking Act. The license covers (optionally) three product categories:

  • Units or shares in domestic open-ended investment funds, open-ended EU investment funds or foreign open-ended investment funds that may be marketed in accordance with the German Investment Code.
  • Units or shares in domestic closed-end investment funds, closed-end EU investment funds or foreign closed-end investment funds that may be distributed in accordance with the German Investment Code.
  • Investments

Permission may be granted to a natural person or a legal entity. Partnerships such as the civil law partnership (GbR), the general partnership (OHG) or the limited partnership (KG) cannot be granted permission. In these cases, each managing partner must apply for their own permit.

In addition to obtaining a license, you must also be entered in the register of intermediaries immediately after commencing your activities.
Your license may be restricted in terms of content or subject to conditions if this is necessary to protect the general public or investors.

You cannot act as a financial investment broker at the same time.

Source: Zuständigkeitsfinder Thüringen (Linie6PLus)

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