Lucrative Business

No Sacrifices for German Financial Advisors

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While other European countries have scrapped commission payments for financial advisors, the German government sees no reason to limit the consultants’ profit-making abilities.

Germany says there are no convincing arguments to copy laws introduced in Great Britain and the Netherlands, Handelsblatt has learned from the federal government’s response to a parliamentary inquiry by the Green Party.

Great Britain scrapped the possibility for advisors to charge commission payments for the sale of financial products in 2013, 2 years ahead of the Netherlands, which introduced a similar law in early 2015.

But German government officials said the experiences in Great Britain provided a tale of caution for the implementation of such regulations in Europe’s largest economy.

 

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