The EU directive on markets in financial instruments (markets in financial instruments directive-short MiFID) into force on November 1, 2007. who has experience with these questions. In the spirit of consumer protection thus increases the transparency for the customer. As banks, brokers and advisors must disclose among those commissions the customers, they received upon the completion of the product. Thus the customer to evaluate better the interests. Comprehensive reporting and documentation requirements be added for financial services institutions. In addition, then even the best execution principle applies”, so the obligation to settle a transaction there, where the fees are lowest.

MiFID provides for free, a great opportunity truly independent financial adviser. Coleman. “, explains Ulf Niklas, Managing Director of the financial planning offices Niklas & Lehmann on the corner of roses in Berlin-Grunewald. In particular the highly qualified, professional advisors, providing a customer-oriented support on a pure fee basis are likely to win. The Number of consultants’m going back altogether although further due to market saturation, whose market share but rise. “Ulf Niklas runs: the model of pure fee advice remains in Germany but the exception.” If anything, the transparent fee advice almost exclusively in the business will offered with the highly wealthy individuals. In the broad business, banks earn so far over a barely comprehensible in the detail system of commissions and fees.

Most fees are dependent on the transactions, which encourages frequent, often questionable shifts in the portfolio. “But this is not always in the interest of our customers.” It must not be expensive for the customer: In the financial planning Office Niklas & Lehmann will already now transparently on a fee basis billed – either flat rate or hourly basis. The repeat business we earn nothing. So we can act really independently and solely in the interest of our customers”, Stephanie Lehmann, also reported managing partner. This was the decisive argument and establish the authenticity of the business concept.