BDB: KPMG study shows: Commission ban would exclude broad sections of the population from investment advice
29 November 2021
Commission-based advice ensures that all sections of the population have access to qualified investment advice and can participate in the capital markets.
A
switch exclusively to fee-based advice, however, as it is currently
demanded by some parties and consumer organisations, would seriously
disadvantage broad sections of the population. This is the result of a
study of the consulting firm KPMG that was published on 17 November 2021
on behalf of the German Banking Industry Committee (GBIC), the German
Investment Funds Association BVI and the German Derivatives Association
(DDV). Consumers with small and medium investment amounts in particular
would be cut off from investment advice by a commission ban, as
fee-based advice would be too expensive. GBIC, BVI and DDV therefore
demand that investors must continue to have the free choice between
commission-based and fee-based advice.
BDB
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