As a financial investment broker, you independently broker financial products to customers, receiving a commission from the provider of the financial product. If you receive your fee from the customer, please apply for a permit as a fee-based financial investment advisor. You may not act as a financial investment broker and fee-based financial investment advisor at the same time.
As a financial investment intermediary, you are restricted to certain financial products by the so-called area exception of the German Banking Act. The permit covers (optionally) three product categories:
- Units or shares in domestic open-end
- investment funds, open-ended EU investment funds
or foreign open-ended investment funds that may be distributed
in accordance with the German Investment Code (Kapitalanlagegesetzbuch)
- 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 (Kapitalanlagegesetzbuch) Asset investments
In addition to the permit, you must also be entered in the register of intermediaries. You can submit the application for this together with the permit application.
The content of your permit can be restricted and linked to ancillary provisions if the authority considers this to be necessary for the protection of the general public or the clients.
Under the same conditions, the subsequent inclusion, amendment and supplementation of conditions is also permitted.
The competent authority depends on your federal state. You will find an overview in the additional information.