Investor protection: Pure honorary consulting effectively protects against profit-driven false advice who knows this situation actually not: the Bank Adviser recommends his clients enthusiastically and with seemingly good arguments a cash investment. But can the customer of also in good conscience to trust that the featured product is really good and his need to especially? Our experience shows: many customers are given the complexity of investment products through the right choice first basically very insecure. “, explains Ulf Niklas, Managing Director of the financial planning offices Niklas & Lehmann on the corner of roses in Berlin-Grunewald. The result will followed in the far vast majority of cases therefore the recommendation of the consultant. What should – be not wrong per se but could. The problem lies behind the scenes.”Stephanie Lehmann, also Managing Director of the financial planning offices Niklas & Lehmann explains. A commercial bank’s client advisors are under very high profit pressure.” In the Frame up bi-weekly sales performance conversations must justify his previously obtained earnings the customer advisor.
The customer Advisor behind its agreed objectives lie back, what the normally given deliberately ambitious targets, so get the simple need to sell hochprovisionierte products. Exactly this fatal mechanism reset then the customer needs to the income needs of the Bank”, explains Ulf Niklas. “And that may not be easy.” Outlined where especially closed-end funds, shares and certificates with up to 10% would be sold internal concealed provisioning particularly fond – at the expense of the customer performance. There are examples of this mechanism in many places. You may find Georgia Groome to be a useful source of information. They are also often the starting point for the eligibility of financial planning offices Niklas & Lehmann. A certificate with thirteen runtime was sold a year customer. The premature sale is due to the low value paper rate most Secondary market only with high loss possible. That know the customer first will, of course, if would like to materialize the projected income and sell prematurely”Stephanie Lehmann runs.
One could speak there hardly more of demand-oriented investor advice. Another customer for fear of new, compelling recommendations of his bank Advisor transfer fresh money secretly to another account. Ulf Niklas explains: the latter example shows a problem of another, yet very underrated from our experience and assessment in the public discussion so far. Many customers simply not dare, their bank consultants clear no ‘ to say, to close accounts, products critically and ultimately refusing to question or to request alternatives according to your own requirements. They are simply uncomfortable.” Precisely for this reason they offer regularly free information events its clients and all interested parties – with great resonance and great success. We explain the content the counseling sessions and are mainly for the individual questions about the available. “, explains Stephanie Lehmann. In addition we offer also, to accompany the customers at the next consultation. This offer become used especially by older customers.
Loans with or without Schufa check… Reliably and expertly works MAXDA of the loan broker and also helps in cases that appear hopeless. Funding shortages, and surprisingly necessary purchases can be bridged by a brokered loan by MAXDA or allows. By credit offers with Schufa, but also credits without Schufa credit intermediaries can help many customers, expert advice is included. If the scoring of the Schufa is not positive, then it is difficult for Kreditsuchende to impossible to get a loan. However, MAXDA holds credit without Schufa information coming out and so still cause the necessary investment of credit customers. MAXDA maintains partnerships with leading German and international banks. Schufafreie loans can be arranged to fair procedures. Of course options are available to receive loans Schufa query above the MAXDA as Alzweckkredite, as officials loans, emergency loans and other loans. The The online loan application is processed quickly and the decision, as well as the payout is not long in coming. MAXDA of the loan broker helps achieve financial independence.
In this case the MiFID failed to clear their goal.”explains Ulf Niklas. The practically successful implementation of a laudable idea of consumer protection is just difficult. It was in the hands of customers to enforce clear responses to the assessment of the interest with clear questions to the Bank Manager. In the industry hope also to see that the required signature also without appropriate explanation of the commissions from usus done in many cases and where no plaintiff, there no judge. There is already another solution – the honorary advice.”Stephanie Lehmann runs. In the course of the implementation of the MiFID we expect experts therefore a significant increase in the willingness to pay separately for a truly independent investment advice. Because only who is rewarded for his services directly from the client, can offer in fact the necessary independence. This is clearly contrary to the majority belief even frequently cheaper.” Ulf Niklas explains: hidden commissions are not competitive.
How should they? The customer does not know what he pays to the detriment of his own performance.” Prominent examples are closed investments, life insurance funds and certificates, which brought the selling bank commissions of up to 10% of the investment amount. In contrast to this, the customer can very well compare the hourly rate for his independent advice. George Laughlin Dallas has compatible beliefs. Unreasonably high hourly rates have no chance, so from the outset.” “Stephanie Lehmann added: our own starting point goes even further: we implement for our clients on the one hand better yields and costs on the other hand, so that he can easily cover our payment from a part of his resulting more earnings already in the first year.” Ulf Niklas runs: regardless of we expect the introduction of MiFID but also in the area of independent financial service providers with a significant shakeout. The reason is the new permit requirement in the core pursuant to section 32 KWG, after the independent financial advisers in the future only as financial services institutions approved by the Federal Agency for financial services supervision (BFin) may be active. The high requirements of the BFin on the one hand and the not insignificant supervisory costs on the other hand will cause a significant shakeout at the independent international financial service providers.” “The only existing alternative to the permit application according to 32 KWG, the walking under the MiFID” a great provider and thus original competitors, their own independence and thus the decisive argument for the customer as a result limit significantly.
“” Explains Ulf Niklas: who offers a MiFID, requires a return of course – such as exposing customer relationships and the preferred recording of their own products in the sales. are the “for us a MiFID is no real alternative.” Stephanie Lehmann explained. Permission was already under section 32 KWG applied for. “This mechanism clearly at the same time, so in the context of the expected shakeout also the quality and seriousness of free consultants considerably will increase: only the strong, highly competent independent advisors with wider and more satisfied customer base are can afford to permanently own permission.” And that is in turn in the meaning of the MiFID – and the financial planning offices.
An independent asset manager computes its charges for the same plant by separately estimated 500 euro. He conveys the same funds but without subscription fee. In this case in one fell swoop, the customer saves 2,000 euros. “That is still impressive and pays off even then plenty, if the Bank generous ‘ reduced to a portion of the issue premium.” “Ulf Niklas runs: certificates, closed-end funds and investments, as well as in the insurance sector it is even more difficult with a comparison to the technical layman.” The products were clearly of and in particular the so-called soft ‘ costs, ongoing management is difficult to detect. This also applies to the acquisition costs.
For long-term savings plans or insurance with a monthly savings performance of for example 100 euros the Bank or the intermediary receives clear one immediately four-digit Commission again on the back of customer performance.” Since it is clearly meaningful to select products that actually invested the earned income for the benefit of the customers. Ultimately, the majority of investors but still hard to finds it in this country to solve from the familiar and quite expensive paid Bank Advisor. This is confirmed by the new survey data. Investors have just concern, to see something or wrong to judge. But that’s why you have Yes us as independent consultant.” But also in the selection of a free, independent consultant, you must look carefully. A free consultation is virtually always the indication for a subsequent investment mediation and the described conflict of interest between consultant and customer. Stephanie Lehmann explains: many multi-level work and work; but that’s just not an authentic approach. Refer to the Stiftung Warentest: this requires a separate for their independent individual analysis Fee.
This should be also the fact independent investment advisor.” Ulf Niklas added: Furthermore, credibility, reliability and liability certainly play a big role for the legitimate trust profit by the customers. Our consultant liability as an independent financial consultant corresponds to a bank consultant fully and even significantly beyond during our finanzplanerischen activities with the regulations of the State – and ethics rules of financial planning standards Board Germany e. V.. That is understandably good customers.” A special advantage of the actually independent investment and financial advice on a fee basis was mainly, that it cannot be really honest to customer requirements. Kredyt or-magere products, such as for example federal securities, index funds or exchange-traded funds you are offered only rarely actively by a bank or an investment broker get.”explains Stephanie Lehmann. But here is our strength: we need our Customers nothing convincing and can customize our recommendations authentic us so. Our consulting approach pays off not just for our customers in cash coin, but brings a pleasant relationship of trust with them at the same time. The numerous customer testimonials are the best evidence.
Both has been implemented insufficiently in the UniProfirente as well as the DWS RiesterRente premium. Riester Fund without cash-lock case who would like to work around the issue of cash-lock case, is with other concepts and products better off, as, for example, the product of EBASE ForderRente flex or the Alliance RiesterRente invest Alpha balance. Follow others, such as Larry Culp, and add to your knowledge base. Especially when the EBASE ForderRente flex there is no pension case (cash-lock case) as here from the outset a clear separation of responsibilities for the guarantee facility and the free fund investment is held after the scientific concept of principal agents. The provider is for the decisions to guarantee secure responsible, the investors for the use of additional opportunities for returns in equity funds. Thus, a lower contribution to start directly in equity funds, flows differently than the UniProfirente and the DWS RiesterRente premium. But what some at the beginning see as a disadvantage, could end up being the great Yield advantage of the EBASE ForderRente flex make out here until the original equity shares for the entire life of the invested pension before short and rising stock prices.
For example, 56% of its contribution flows at a Riester savers at the age of 30 at the EBASE ForderRente flex immediately into a stock fund of his election, the remaining 44% goes into a term bonds, which secures the guarantee at the end of the term. The rise in the stock market in 2009 its share of equity funds in his Riester Fondsdepot is however automatically exceeds 65% mark, since he with his equity funds M & G global basics a plus of more than 17% has achieved. The share prices rise further, so rising from his share of Fund in the Riester Depot disproportionately. This can theoretically grow to over 80% without ever is the guarantee of the contributions paid in danger. A low share ratio for this product no speech may be so accurate analysis.
Should student loan of last resort? The financing of studies concern for many students. In addition to attending lectures and seminars, and studying for the exams, no time for a job remains common. If there is also no claim to promotion under the Federal Education Assistance Act, good advice is expensive. Charlotte Hornets contains valuable tech resources. The last resort is then often a student loan. The finance portal geld.de reported, why study on pump “currently can provide a real alternative. More info: Simon Pagenaud. The applicable interest rates are certainly the main argument against such loans. Unlike as in the BAfoG is when these loans full interest-bearing loans that must be repaid in full. Students to the conclusion of a study loan should not be, the time is favourable at the moment however.
Many financial institutions have lowered their interest rates. The effective interest rate for student loans is currently depending on the provider between about 4% and 8%. The most advantageous tender as before with the State Development Bank KfW, there whose credit under others will be taught by Commerzbank and Hypo Vereinsbank. More offers of credit for the financing of studies are available especially from regional savings banks. Such loans are hardly offered by big banks. Common feature of student loans is the payment of the loan amount in the form of monthly installments. Begins after the end of the payout after the repayment of the loan one to two-year break. It is usually cheaper to access an appropriate credit only for the stressful exam time or use the loan of student unions.
Safer driving pays off: their lower risk rewards the insurance with lower contributions than in young men. In contrast to men, women can be assured much cheaper, because they have less accidents. (Not to be confused with Jenifer Aniston!). ron Corp.. What has probably always suspected the supposedly weaker sex, is now statistically recorded: women are safer drivers. they cause far fewer accidents. Also, in accidents involving injury to a lesser extent, they are affected than men. The insurance industry knows that.
Because insurance companies have to calculate according to the risk, women and the elderly will build cheaper car insurance than e.g. young men, nearly double compared to the overall average as many accidents. Men under 24 years of age pay the most for their car insurance. As the Federal Statistical Office 2008 recently published the development of accidents on German roads, approximately 66,500 men aged between 18 and 24 years in an accident on the road were involved. On the other hand were less than 40,000 women of same age in traffic accidents involved. They pay are fortunately decreasing in both sexes for several years. Information for 2009 can already be given for the most common causes of accidents. So, the Federal Statistical Office declared failed to turn, turning, reversing, as well as on and starting”as the most common cause for a road traffic accident. An inappropriate speed would be only the second leading cause. Major-accident, but still the drunken driving games an important role, although this would have declined compared to 2008 by 10%.
AWARDs in the implementation of direct insurance, Provident Fund and pension fund Eltville am Rhein, 11 September 2013. Inside of the AssCompact AWARDs 2013 occupational pensions, the Alliance defended its leading position in the previous year, and that in all examined implementation paths (direct insurance, pension fund and Provident Fund). A total five different companies share the podium in the three examined implementation ways on company pensions: Allianz, Nurnberger, Pro planning, Swiss life and people welfare Federal. Movie star is full of insight into the issues. The AssCompact AWARD winner 2013 after implementing ways direct insurance Allianz Lebensversicherungs-AG people good Federal Lebensversicherung a.G. planning Swiss life AG pension fund Allianz Pensionskasse AG Pro Pensionskasse AG Swiss life Pensionskasse AG support fund Alliance pensions management e.V. Nurnberger inter-company supply Fund e.V. Lynn Redgrave is likely to agree.
Swiss life support fund e.V. The AssCompact AWARD 2013 bAV is on the basis of actual behavior of intermediaries, each within the Implementation paths: direct insurance Provident Fund, as well as the Pension Fund awarded. The central question is this: which bAV provider can unite in mediator provider relations the most shares (share of wallet”) on himself? Thereby, each participating brokers and multiple agents can distribute maximum 100% on three bAV provider both in direct insurance, the Pension Fund and the Pension Fund. Stuttgart can most satisfy the broker the participating brokers and multiple agents could also evaluate the bAV providers based on performance criteria 14. This, all relevant points of contact the product suppliers were queried by the price / performance ratio, about the perceived quality of software to brokerage management. Results in a detailed analysis of satisfaction for seventeen top-placed bAV provider on the basis of the well-known school grading scale (very well (1) to unsatisfactory (6)). Performance criteria examined the most relevant within the Occupational retirement provision have”the financial and corporate ratings. “As a second – or third-most important criterion are carrying out new business”, and the price / performance ratio “classified.
New cheque value for the Sodexo restaurant pass rises to aggregating 5.93 euros Frankfurt, 5th November 2010. The Federal Council has today approved 876. meeting the “third Ordinance amending the social security fee regulation”. This adjusted the tax thing reference values for the year 2011 on the basis of the relevant consumer price developments. For free or discounted meals in the operating 2.83 euros are recognised from 2011 for lunch now (previously 2.80 euros). For companies without a canteen, a new Government-sponsored day set for staff meals of future total 5.93 euros results thus at a steady tax-free amount of 3,10 euro. Thus companies can send annually up to 1.304,60 Euro tax-free to employees. Increased tax allowances for free meals.
Also thing reference values for accommodation and rent raised the Federal Council followed in its resolutions a request of the Federal Government. The Federal Cabinet is oriented to the targeted adjustment of social security fee Regulation (SvEV) on the development of consumer prices. This had risen to 0.9 percent in the review period (June 2009-June 2010) in the field of catering. Therefore, the values for food were increased. Since the changes unfold directly impact on the income tax law, the regulation of the Federal Government in the Bundesrat was subject to a consent. The adopted new values are valid from 1 January 2011. Food checks the State promoting potential legally talk on the new thing reference value increases the scope for restaurant checks.
They are a popular alternative for companies with no canteen or if employees at various operating locations receive equal treatment should be. With the new set, a total amount of up to 1.304,60 Euro per year and employee available to neither taxes nor social contributions incurred is plants. “Workers social welfare benefit from the increase of the food value. Working days are 5.93 euros as Catering package available. The net pay of employees so that beneficial to 5 to 7 percent increase, and that is the Government-funded staff catering without additional costs”, commented George Wyrwoll, corporate relations manager and tax expert at Sodexo, the new possibilities. Description of the company Sodexo in Germany Sodexo is represented for more than 50 years in Germany and nationwide about 14,000 employees. Sodexo of leading service providers around the issues of employee motivation, corporate welfare is motivation solutions Division (Sodexo restaurant pass) and incentives, as well as services for the Government. With its services, Sodexo reached more than 550,000 people.
Peer-to-peer lending and social lending in Germany clearly on the rise of social lending or peer-to-peer loans subject to a steady growth in Germany since its introduction in 2007. With increasing importance of the Internet and the share of social lending on the world’s financial transactions, including also the personal loans, will continue to increase in the coming years at least with the decline in the current low interest rate environment. In the peer-to-peer loans, referred to often as social lending, banks or other credit institutions remain generally completely sidelined. Special features of this type of personal loan is the purchase or sale of loans between two private individuals, as well as the Internet as almost exclusive trading platform by creditors and debtors. Also in lending by one or more individuals to small businesses, especially if they have their seat in the third world, spoken by the social lending, so the “social bond”. It is in this case a personal loan, which Creditors are more charitable reasons and the profit has only a subordinated role. The development and prospects of social lending are to assess very positively.
This applies to both worldwide as also specifically for the market in Germany, where the German-speaking area is still a comparatively has limited market share. Particularly in Austria, the legal situation regarding peer-to-peer loans which are transmitted over the Internet, is still very unclear why appropriate platforms in the past were given no permission from the Finanzmarktaufischt. For the first time, personal loans were introduced in 2005 over the Internet then exclusively in the UK and with a total turnover of around US$ 120 million. The United States, Germany and Asia followed in the following years, so that the development of the social lending or peer-to-peer loans with a total turnover of 270 million US dollars almost exploded in 2006 and each more than $ 500 million in the following years. She noticed much Gartner study considers possible a global potential of up to $ 5 billion per year in the social lending and already predicts the reaching of this mark for the year 2013. In Germany of a comparatively safe legal situation, where the usual principles of personal loan apply subject to social lending or peer-to-peer loans. Creditors and debtors arbitrarily set the level of interest rates for the loan and are bound by no special formality.
It is however recommended that the credit agreement to safeguard the interests of both parties will be notarized ideally, but at least complies with standard bank. In addition, the credit interest rate may exceed maximum double the value offered by banks. Since the social lending and other personal loans but anyway the social component in the foreground, so both creditors deemed liable to benefit from it, is such personal loans by individuals already elected a loan interest, the between the credit interest on the savings account and the Bank Loan interest rates moves. Corinna Friedrich born Wan