Personal Finance For Expats In Germany

As long as you are not sure which insurance you need or how to provide for your old age, a free initial consultation is always useful. Here you can determine whether the consultation is about you or pushing you towards a product. Our recommendation is to only take out a product if you are really convinced of it.

You should expect a good financial advisor to provide independent advice based on your personal life situation. The goal should be to find insurance policies and investment products that you really need, want, and feel comfortable with.

The average cost depends on the type of consultant. There are fee-based advisors, who are paid for the time of the consultation, and commission-based advisors. Commission-based advisors usually offer free advice. Our recommendation is to seek such a consultation. You will notice relatively quickly whether you are dealing with independent advice, or whether it is simply a matter of selling products.

A good financial advisor will listen carefully to your individual life situation, and based on that, decide exactly what makes sense for you. So there should be no specific recommendation that is universally valid. If there is a universally valid recommendation, it is not good, unbiased, independent advice.

A good financial advisor does not necessarily have to cost anything. Independent financial advisors offer you a free consultation. Here it is important to pay attention to whether your interest is in the foreground, or the product of the advisor, since he is usually paid by a commission.

You choose a good financial advisor based on your personal judgment. Nevertheless, you can ask yourself a few questions in a conversation, such as, do you feel comfortable with the advice? Is enough time taken to answer your questions? Is the advisor competent and explains the products in an understandable way? Doesn't try to pressure you into anything? Is the advice transparent?