Don’t be afraid to complain about the adviser’s good advice. Take a look at the compensation

Get to know a good financial advisor according to the way he works. They need to discuss your financial situation with you in detail and design a suitable product. The counselor is responsible for his work, you have the opportunity to defend yourself against his bad decision.

If you are not satisfied with the service of a financial advisor and you feel that he has recommended the wrong product and investment, you can take these ways.

First, contact the consulting company itself. If the consultant violates company rules when negotiating the product, the client will probably be compensated and the consultant will self-suffer.

The Dalem degree of business is a professional association, if the consulting company is its member. “Professional associations have their own code of ethics, which member companies are obliged to abide by. If someone contradicts him in the invited way, the ethics committee of the association can impose a sanction and possibly mediate the mutual direction of the client and the company, ”explains Ji indel, the managing director of the Union, the company of financial intermediation and consulting.

The last step is a complaint to the Czech National Bank for breach of final obligations and possibly an action in court.

Pbh: The counselor had to compensate the client

How it can sometimes look in practice is shown by the example of one client who, as part of the financial composition, demanded complete insurance protection from the consultant. Together, they made this request known to the client’s requirements.

However, the consultant neglected this fact and recommended a product that did not provide coverage for the risk of illness.

When the client subsequently became ill, the insurance company refused to provide him with insurance benefits. The client immediately applied to the consulting company. After the whole case, acquaintance and e-mail communication, the client proved his original request, she decided on the direction and compensated the client for the insurance claim.

The company subsequently punished the consultant for withdrawing the compensation paid to the client.

The basis is a professional analysis

Getting to know the right financial advisor is often not easy. If you are primarily interested in investing time, the financial advisor must write an investment questionnaire with you, analyzing your knowledge and previous experience with financial products. At the same time, it finds out your goal, which you want to achieve, how it is in relation to risk and, last but not least, you are interested in your property situation.

When you want advice in the field of insurance, the advisor must record especially your requirements and needs.

In order to compile the financial full, it is necessary for the advisor to prepare a detailed financial analysis with you, to analyze your finances in the smallest detail. Its basis is clear information, for example, on the income and expenses of the household, on disputes and raids, on the financial products closed so far, but also on the family relationships and health status of only the household.

Some commissions are for a protective period

Financial advisors receive commissions from financial institutions when it comes to commission advice and product intermediation. The consultant will receive a commission from the client if the client can find it and analyze his financial situation and compile a financial statement.

The commission is different. “In general, the salary for the most frequently used savings products is in the form of units of percent of the total, or the total amount of people,” says Ji indel. Sometimes a combination of both options is used, including a commission at some point, the rest of the process.

Even the financial advisor will pay me for the paid commission for certain circumstances. For some products, such as life insurance, the commission is paid for a several-year protection period. If the client cancels the product during this time, the consultant returns the commission or its relative amount (you can see more details in our previous article).

Related Posts