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german reforms catastrophic says brandstaeter

Tougher licensing of German intermediaries risks leaving investors ill-prepared for retirement, according to Fonds Laden CEO Peter Brandstaeter


Speaking with Expert Investor Europe magazine editor Dylan Emery, at last month’s Expert Investor Deutschland, Brandstaeter said “paragraph 34f” licensing requirements, introduced in June, had contributed to a sharp fall in the number of German advisers, from 70,000 to just 30,000.

“We have made a big step backwards, because now the private investor is again forced to go to insurance companies, to standardised products, to savings accounts,” he explained.