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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

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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.

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