Specialist for financial advice

Certified specialist in financial consulting is a publicly recognized degree at the master's level , which is awarded after successfully completing industry- related commercial advancement training in accordance with the Vocational Training Act and is geared towards customer advice in capital investment, financing and insurance products as well as real estate. The nationwide examination takes place on the basis of a special statutory ordinance before the examination board of a Chamber of Industry and Commerce (IHK).

Basics

The legal basis of the examination is a nationwide training regulation. It has been in effect since August 1, 2012 and replaces the previous individual regulations of the individual auditing chambers of industry and commerce. Examination procedures that have been started can still be carried out according to the old regulations until December 31, 2015.

Preparatory courses for the exam are held by various private and public providers and can be funded according to the Advancement Training Assistance Act. The DIHK recommends 750 teaching hours for preparatory courses.

The predecessor of the certified specialist in financial consulting was the specialist in financial services , which was initially only awarded by the Rostock Chamber of Commerce and Industry on the basis of its own legal regulation. Since 1996, the examinations have also been carried out at other chambers under the name Fachwirt für Finanzberatung (IHK) .

The exams

Due to the legal reorganization of the advanced training qualification, the exams could be taken either in the old or the new form until the end of 2015.

Examination regulations from 2012

The exam to become a certified financial consultant consists of two parts (part A and part B ). The content of the first part of the exam corresponds to that of the Certified Financial Services Adviser and relates to advising private customers. In contrast, the second part is designed to advise corporate customers.

Examination part A (private customers)

• Written exam (each 120 minutes)
  • Organization and control of the individual sales activities
  • Advice to private clients on financial and asset investments
  • Advice to private clients on real estate and financing
  • Advice to private clients to protect against personal, property and financial risks
• Oral examination in the form of a case-related consultation (duration 20 minutes)

Examination part B (business customers)

• Written exam
  • Corporate and personnel management as well as sales planning and control (duration 180 minutes)
  • Advice on corporate financing (duration 120 minutes)
  • Risk analysis and advice on coverage concepts for companies as well as advice on company pension schemes (duration 180 minutes)
• Presentation of a complex problem of operational practice including a technical discussion (duration 30 minutes)

The exams take place twice a year, in spring and autumn. They are created on the basis of a framework plan published by the DIHK, which describes the learning objectives.

Examination regulations from 1996

The previous exam to become a specialist in financial consulting (IHK) , which can be completed by the end of 2015, has the following parts:

• In the basics part
  • Banking products for private households
  • Building savings and real estate
  • Insurance products for households
  • Basics of economics and business administration
  • Law and taxes
  • Customer advice and work organization

• In the advanced part:
  • Insurance products for the liberal professions and traders
  • Mortgage lending
  • Financing products for professions and tradespeople
  • Leadership and organization
  • company pension scheme (elective)
  • closed funds (elective)

The exams are taken in 90-minute written exams. Only the subject of customer advice and work organization is examined orally in a 20-minute simulated consultation.

Recognition as a public examination of proficiency

According to the Insurance Brokerage Ordinance, the qualification as a specialist in financial advice is valid as proof of competence for insurance brokers . Likewise, according to the Financial Investment Brokerage Ordinance, it is recognized as proof of expertise by financial investment brokers and according to the Real Estate Loan Mediation Ordinance as proof of expertise for real estate loan brokerage.

literature

• For the basics part
  • Kuckertz / Perschke u. a., Praxiswissen Finanzdienstleistungen (Volume 1), 8th edition, 2017, ISBN 978-3-89699-489-9
  • Kuckertz / Perschke u. a., Praxiswissen Finanzdienstleistungen (Volume 2), 8th edition, 2016, ISBN 978-3-89699-490-5
  • Lochmann, specialist advisor for financial services (IHK) - Bausparen / Immobilien / Finanzmathematik , 2nd edition, 2006, ISBN 978-3-7783-0635-2
  • Mlynski / Posladek, consultant for financial services (IHK) - Basics of Economics / Business Administration , 2nd edition, 2008, ISBN 978-3-7783-0684-0
  • Nareuisch, The Examination of Specialists for Financial Services , 1st edition, as of August 30, 2006, ISBN 978-3-470-54851-7
  • Wellein ' specialist advisor for financial services (IHK) - Law , 3rd edition, 2011, ISBN 978-3-7783-0773-1
• For the deepening part
  • Kuckertz / Perschke u. a., Praxishandbuch financial advice for commercial customers , 5th edition, 2010, ISBN 978-3-89699-369-4

Web links

• Business administrator for financial advice in Berufenet the Federal Employment Agency
• Specialist for financial advice in the WIS training portal of the IHK organization
• Structuring of the written exam from spring 2012 provided by the IHK Berlin
• Bundesverband der Fachwirte für Finanzberatungen e. V.

Individual evidence

1. ↑ Ordinance on the examination for recognized advanced training qualifications in the financial services industry (FinDFwPrV)
2. ↑ Example: Special legal regulation of the IHK Frankfurt am Main  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. . Website of the IHK Frankfurt am Main. Retrieved June 26, 2011.  
3. ↑ § 17 FinDFwPrV
4. ↑ Schenk, certified specialist in financial advice, framework plan with learning objectives, DIHK-Verlag, 2012, page VII
5. ↑ BiBB, overview of the legal basis for the specialist in financial services ( Memento of the original from May 25, 2013 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. . Website of the Federal Institute for Vocational Training. Retrieved June 26, 2011.  
6. ↑ Overview of the legal basis for the specialist in financial advice  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. . Website of the Federal Institute for Vocational Training. Retrieved June 26, 2011.  
7. ↑ § 10 FinDFwPrV
8. ↑ § 4 Insurance Mediation Ordinance
9. ↑ § 4 Ordinance on the Brokerage of Financial Investments
10. ↑ Real Estate Loan Mediation Ordinance of April 28, 2016 ( BGBl. I p. 1046 )