Frankfurt, Berlin The horror in the financial sector was great when a few days ago a position paper of the “Finances and Budget” working group of the traffic light parties became known. “We will completely replace commission-based advice for small investors with independent fee-based advice and we are also campaigning for an end to commission advice in EU financial market law,” it said, among other things.
So far, this has been a requirement of the Greens from their federal election program. Now the issue has made it into the coalition negotiations – the outcome is open.
Commission advice is standard today. If you buy financial products through a bank, an intermediary or an online portal, you usually receive commissions at the time of the transaction and sometimes as an annual sales fee. This is an important source of income for the industry; this is how they pay for advice.
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