Deutsche Vermögensberatung

Does anyone have experience with the Deutschen Vermögensberatung. They seem awfully keen to talk to me - though I told them I know nothing about insurance sales - so I suspect it's pyramid selling, or similar. From some of the German commentary it looks like it.

The only thing I know about them is they used to sponsor Michael Schumacher. Not sure if that helps!

According to the new regulation rules of the insurance and investment adviser market, Deutsche Vermögensberatung has now to declare that they are not independent brokers but rather "gebundene Agenten" since their company is the main distribution channel for AachenerMünchener and Generali insurance. Therefore you have to anticipate that you will not receive unbiased and independent financial advise but more a hard sale of insurances and related products from a rather small selection of the market.

Of course any large financial advise company has good and bad advisers and I am not saying that everyone of them will be just out to sell you stuff you could get better and cheaper elsewhere... but it is indeed a corporation where the comission is divided in a structure so that people in the higher echelons of the organisation profit a lot from the sales of the lower culis and thus encourage strong and hard sales while good sales results only will get you up the corporate ladder...

I would advise not use them, if you real want advice from a big financial adviser institution, pick one that is more independent like MLP or AWD (even though some of my critizism above also fits to them as well).

Or you just might want to try out a real independent financial advisor... like me, for instance

Cheerio

They want me to come for a "Berufsbildungs" session. Having been caught out before, I'm expecting some kind of pyramid sales booster talk about how I, too could own a Ferrari etc. if I'm willing to pester all my friends into signing dodgy contracts. I've pointed out that I know nothing about insurance - and they must realise my German's not up to a sales job - but nothing puts them off. This makes me very sceptical.

Well, this works in to ways/two possible outcomes from their point of view:
a) you do not enter their great organisation but you get so convinced by those great products (insurances, investments) they have that you sign some contracts and give them some recommendations for more sales with friends and family or
you actually start to work for them which means you bring them friends and family first to sign contract where you get a small comission and the guys on top of you earn real well
Win-win situation for them. Thus, save your time and don't go...

Cheerio