In the latest edition of its consumer information series “Let’s talk about money”, the Austrian Financial Market Authority (FMA) covers the topic of investment advice and the various possibilities for checking whether the company or person providing advice is authorised to provide investment advice.
“The FMA advises anyone looking for investment advice to check whether the the company or adviser you have chosen is actually authorised to do so,” remarked the FMA’s Executive Directors, Helmut Ettl and Eduard Müller. The FMA Company Database, the FMA’s Tied Agents and Investment Intermediaries Query and the Gewerbeinformationssystem Austria can all be used for this purpose.
The investor’s financial situation, investment objectives and risk appetite are defined at an investment advice meeting. Based on these criteria, and following a detailed presentation of all the information, risk and costs, an investment recommendation is made. Banks, investment firms and investment services providers are allowed to advise people prior to making an investment decision. Companies may also make use of assistants – known as “tied agents” (vertraglich gebundene Vermittler) agents and “investment intermediaries” (Wertpapiervermittler).
As at 31 March 2022, there were 1,870 people working for 46 companies as tied agents, as well as 364 people working for 21 companies as investment intermediaries. Further information can be found at:
- Let’s talk about money – Investment advice
- FMA Company Database
- FMA Tied Agent and Investment Intermediary Query
- Gewerbeinformationssystem Austria
Journalists may address further enquiries to:
Annemarie Bauer
+43/(0)1/24959-6007