Fee-based financial investment advisor; application for a permit
If you wish to set up your own business as a fee-based financial investment advisor, you must apply for a permit.
- The reliability required for the business operation, i.e. you have not been convicted of fraud or other crimes in the last five years
- Financial circumstances in order, i.e. you are not in private insolvency or registered in the debtors' register.
- Professional liability insurance with a minimum coverage of 1,130,000.00 Euro for each insured event and 1,700,000.00 Euro for all insured events in one year in total.
- You can prove the required expertise by passing an IHK examination or by equivalent training qualifications and possibly corresponding professional experience
You send the application for permission with all supporting documents to the authority responsible in your federal state.
- The authority checks on the basis of your information and documents whether the legal requirements for the granting of permission are fulfilled.
- If you meet the requirements, you will receive the permit in writing by mail.
- Before you start your activity, you must submit an application for inclusion in the Register of Intermediaries.
If you have received the permit, you must register your trade before you start your activity.
A few weeks after all documents are complete.
- Costs are incurred. The exact amount can be found in the fee schedule of the competent authority.
Links to more information
Responsible for editing:Deutscher Industrie- und Handelskammertag e.V.
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