Those who seek advice on investing are often sold expensive and bad products. The EU Commission is now considering banning commissions. Where it can lead when the consultant earns money.
from
Harold Freiberger
Investing in Germany is based on commissions: almost all intermediaries of financial products have a percentage of it when they sell a fund, an insurance policy or a home savings contract. This often means that customers do not get what they actually need, but rather what earns the seller the highest commission. A problem that the EU has also recognized. The EU Commission is considering banning commissions – as is already the case in Great Britain and the Netherlands. The result would be purely fee-based advice, with investors only paying for the service.