Insurance brokers (Versicherungsvermittler, § 34 d GewO),
insurance advisors (Versicherungsberater, § 34 d GewO),
investment brokers (Finanzanlagenvermittler, § 34 f GewO),
paid investment advisors (Honorar-Finanzanlageberater, § 34 h GewO) and
mortgage brokers (Immobiliardarlehensvermittler, § 34 i GewO)
require a permit from their relevant regulatory authority. This permit requires proof of personal reliability, stable and orderly financial standing, professional liability insurance and relevant expertise.
Brokers and advisors risk a fine if they don't allow themselves to be listed in this online register. Their business-related data is freely viewable. The use of this data for commercial purposes is not permitted.
The Broker Register is maintained by the German Chambers of Industry and Commerce. These are jointly represented by the Association of German Chambers of Industry and Commerce (Deutsche Industrie- und Handelskammertag e.V, or DIHK).
The purpose of the Broker Registry is to enable the general public, in particular investors and insurance providers, to verify the authorisation and the scope of activities that may be carried out by a registered broker or advisor. This ensures transparency and strengthens consumer protection.