Financing through financial advisors/wealth advisors

Hello first of all,

I am new here in the forum and have a concern.
Google led me to you as I am looking for your opinion

It is about the financing of a property.
What do you think about financial advisory support from such consultants?
Where do they get their commission from when financing a customer?
Is there basically a double commission to be paid for such financing or
do such consultants offer loans directly from the banks without the
bank receiving a commission?

Thanks in advance

Regards marcel

Hello Marcel,

It is about financing a property.
What do you think of financing support from such advisors?
Where do they get their commission from when financing a customer?
Is it that with such financing you basically have to pay commission twice or
do such advisors offer loans directly from the banks, without the
bank receiving a commission?

Basically, "independent" financing advisors are a very good choice; they receive their commissions exclusively from the financing bank upon completion of the financing.

However, there are significant differences among financiers – one of them, who is currently mentioned in the same breath as our Federal President, originated from an MLM/pyramid scheme; so appropriate caution is advised. Many others are also tied to insurance/banks, while some get paid from both sides – so it is important to inform yourself wisely before deciding on a financing advisor. There are good financial magazines that provide excellent service in the area of "buying money," as they research independently.

Best regards

Hello construction expert,

How about financial advisors, just to name one example, the DVAG, from
Of course, some try to arrange financing through their products, e.g., a home savings loan.
The discussion here is only about a pure annuity loan + KfW loan that is to be brokered.
Does this also apply here?:

sie beziehen ihre Provisionen ausschließlich von der finanzierenden Bank bei Abschluss der Finanzierung

Regards Marcel

Hello Marcel,

Does this also apply here? ....

My gut feeling is that it depends on the product; but I am far from knowledgeable.

Therefore, I would suggest – and by the way, you should consider this with every other provider you favor – that you ask about the expected costs for yourself before the consultation.

Kind regards

The commission is paid by the bank. Indirectly, however, you do. At the DVAG, paying attention to the training can also be a master butcher. Just go to many banks. You can save yourself the BdV for the repayment with that.

In our experience, you have to be careful - as always in life - and should have a rough idea of what you are doing.

First, you should find out which financing options are basically available.

Each has its advantages and disadvantages.

The so-called "advisors" like to come up with creative suggestions, e.g. loans with 0% repayment, where you only pay the interest. Then a parallel saving plan for a home loan contract and also a life insurance policy for security.

That way they get a commission for three products.

Another way to deceive the customer is to combine different loans and show a supposedly low effective interest rate.

Just recently, a lady from Dr. Klein tried to sell us complete nonsense:

Bank loan (from a savings bank with ridiculously poor conditions)
KFW 153 loan with a long term and 10 years fixed interest rate, etc.
KfW 129 loan with 30 years term and 5 years fixed interest rate, etc.

Then she took a really creative step and showed us how high the interest rate is from the combination of the three parts.

When I imagine that people actually agree to such proposals, it's no wonder that we have more and more personal bankruptcies.

But enough of my own experiences.

I can only recommend making the financing transparent. We have already completed a financing and have done extremely well with it.

If you know your way around Excel a bit, you can also nicely calculate and determine which financing components cause which costs, how the interest rate affects things, etc.

You can also get good advice, for example, by phone at Comdirect Bank or at Ing-Diba. But - as said - solid basic knowledge helps immensely