Investment advice in the test at financial test: Almost every 10th Bank poor

Wednesday, the 20.01.16 , written by Bernd Lauberg In the current test of the Stiftung Warentest for investment advice by banks (Finanztest 2/2016) only three out of 23 tested financial institutions can convince with the rating “good”. Two banks even fail with “poor”. However, those who want to recognize poor investment advice can protect themselves from making wrong decisions by preparing well.  This protects consumers from bad investment advice

Stiftung Warentest does not only check financial and investment products in the consumer magazine Finanztest. The quality of financial and investment advice, for example through banks, is also regularly examined. In a recent test, 23 private and cooperative banks and savings banks were scrutinized. The testers stated in the talks that they wanted to invest a sum of 45,000 euros flexibly over a period of ten years . In doing so, a medium risk should be striven for , on the one hand to enable a sufficient return and on the other hand to ensure enough security for the investor.

Current test winner of investment advice at Stiftung Warentest

The experts at Stiftung Warentest acknowledge that there is no silver bullet for investing but offer different solutions for the desired investment objective. However, to ensure the mix of security and return opportunities , the testers make it clear that they value valuation as “a well-balanced mix of secure fixed income or term deposits and riskier equity investments”. After all, six financial institutions receive the rating “good” in the category “solution to the investment problem”, which is 65 percent in the overall rating. Here, the test persons were proposed a distribution of their investment capital to several suitable products. Three of these financial institutions also achieve corresponding sub-grades in the categories “Determination of Customer Status”, “Product and Cost Information” and “Conversation Procedure”, which lead to an overall good quality rating.

The best three investment advisories are available in 2016:

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Poor investment advice: Too high risk, inappropriate and inflexible

The three test winners in the Investment Advisory Test 2016 compared two institutes that failed with one “poor” and five others only achieved a “sufficient” in the overall result. The reasons for the poor ratings are mainly in the selection of inappropriate products by the consultant. For example, some of the recommended investment solutions were too risky or access to the capital would not have been possible before the end of the ten-year investment horizon, as was the case. In addition, there were devaluations, because counseling protocols were not handed out, although this is required by law .

This allows consumers to protect themselves from poor investment advice

Especially as a layman, it is not easy to recognize an inappropriate investment recommendation. However, there are some ways to identify bad advice before, during or after a call.

1) In advance, it is advisable to record the exact investment wishes in writing . What is the investment capital? For what period should the money be invested? What is the personal need for security or risk-taking? If these questions need to be clarified during the actual conversation, there is less time for investment advice. Investors should be suspicious if an investment product is already proposed when making an appointment .

2) During the conversation, consumers should feel comfortable. This also includes discretion when dealing with such a sensitive topic as investing. A consultation between the door or on the spot or in the immediate hearing of other bank customers is therefore completely unsuitable. Also a consultant who directly tries to sell an investment product without knowing the individual financial situation and the investment wishes of the customer, will hardly find the right solution for their own needs. A detailed discussion with the opportunity to ask questions, however, points to a qualified advice.

3) After the interview, the customer should be given time to think . Then the given information and recommendations can be processed and, if necessary, uncertainties eliminated through consultation . In addition, the consumer then has the opportunity to seek a second opinion, especially if it has come to a problem in the consultation. In general, it is advisable not to let yourself be rushed to a degree or a signature – no matter how well the conversation went.

Here are tips and more information about the investment. >

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Öko-Test finds hardly good tariffs in the care insurance comparison 2017

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news Öko-Test finds hardly good tariffs in the care insurance comparison 2017 News always well informed Tuesday, 09.05.17 , written by Annabell Meyer A supplementary nursing insurance financially protects people in case of care. Because often the money from the statutory long-term care insurance is not enough for the care costs. However, the magazine Öko-Test in the care insurance comparison 2017 has found only a few good offers. In particular, the tariffs of the state-sponsored Pflege-Bahr fall by the majority. > Im Pflegeversicherung Vergleich 2017 überzeugen nur wenige Tarife Supplementary care insurance in the test with light and shadow

Although benefits from statutory long-term care insurance increased at the beginning of this year for many people, these are still insufficient to cover the actual costs of care. Without private provision, people in need of care often face financial ruin, which can also burden their relatives.

Öko-Test has searched in the care insurance comparison 2017 for the best private care. A carefree future , however, is not automatically guaranteed even with supplementary care insurance, warns the consumer magazine. Because only a few tariffs can convince in the test.

Six fares in the care insurance comparison 2017 very good

In the care insurance comparison 2017 Öko-Test has taken 139 care days tariffs from a total of 31 providers under the microscope. The various offers were checked for model customers who sign the contract at the age of 35 or 65 years . For them, care level 5 required a daily care allowance of at least 60 euros. In a third group, the magazine has tested tariffs that parents pay for their one-year-olds to cover their case of long-term care. You should get a daily rate of at least 100 euros.

For each of the three sample customers only two offers make it to the first rank and thus receive a very good rating. 17 fares are good, more than a third score poor or worse.

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Care insurance comparison 2017: Secure children for care

In the case of private provision for children, the care insurance comparison 2017 shows that this is often already available for a small amount of money. The contributions are relatively low, usually at less than 20 euros per month, as the risk of becoming dependent on care at an early stage is estimated to be comparatively low.

For the two best offers from DKV (PTG) and HUK-Coburg (PT Premium), the premiums range from 11 to 12 euros for a daily allowance of 100 euros. This corresponds to a hedge of 3,000 euros a month. The cheapest nursing day allowance for children is Signal (PflegeSTART). However, the offer for 7.44 euros per month is rated in nursing insurance test only with sufficient.

DKV and Württembergische score as test winners for adults

For both the 35-year-old and the 65-year-old policyholders , DKV's "KPET" rate is one of two test winners. For the younger of the two groups also receives the Württembergische (PTPU) a very good rating. For older customers, on the other hand, another tariff of DKV (PTG) ranks first.

Service: Despite their good results, the test winners do not offer the best protection for every customer. With the care insurance comparison calculator you will find the offer that suits your wishes from a variety of tariffs.

Maintaining Bahr fares fall by the majority

The different tariffs for the Pflege-Bahr in the nursing insurance comparison 2017 are generally poor. Thus, 32 of the 37 tested offers are inadequate or even insufficient. Only Central (Central.pflege) ranks third in both adult groups and achieves the best rating.

A major disadvantage of this insurance for critics such as eco-test is that the insured in case of nursing are insufficiently secured . For example, this form of care provision requires a minimum monthly sum of 600 euros, but this is often insufficient. In particular, if a person in Nursing Degree 5 has severe self-employment problems and is in need of assistance virtually around the clock, the equivalent of 20 Euros per day will not be enough to cover the costs of care.

For some offers in the test, insured persons receive a higher daily allowance of up to 38 euros. However, these around € 1,140 a month are often insufficient. A place in the nursing home costs depending on the place of residence sometimes more than 4,000 euros per month. The nursing care insurances pay a maximum of 2,005 euros for the highest care level. Less benefits from the nursing Bahr remains still own contribution of several hundred euros, which carries the patient himself. Anyone who has the opportunity to arrange unsubsidized long-term care insurance with a correspondingly high long-term care allowance should rather conclude such an offer instead of the Pflege-Bahr.

Here you will find tips and more information on private nursing care insurance. >

Annabell Meyer

editorial staff

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Privacy Policy | Terms and Conditions | © 2004 – 2018

Thursday, 05.02.15, written by Anja Schlicht

The pension information is intended to keep consumers up to date on their acquired pension rights. However, what the numbers are really worth, is difficult to estimate, especially for younger generations. But not only for them, but also for older generations, it is important to interpret the amounts correctly, so as to be able to follow-up if necessary.



Renteninformation gibt nur Bruttorente wieder
Understanding pension information properly is not easy

Only recently, a survey commissioned by the financial services provider MLP found that 40 percent of Germans have no concrete idea about the amount of their statutory pension , another 30 percent have only a rough idea. Not even one in three respondents is therefore aware of the amount of their old-age pension at the beginning of retirement. The German pension insurance sends an annual letter to its insured to inform them about their pension rights. But the result of the current survey indicates: Not every consumer knows how to estimate the information.

Understand pension information correctly

As for their statutory pension rights , consumers learn from the annual pension information . In doing so, writing can help to take private retirement provision in old age. But that is only possible if the citizens can correctly classify the numbers. In an interview with, Marina Herbrich, President of the Federal Association of Pension Consultants, explains that the idea of ​​pension information – shaking up consumers – is good . However, this only succeeds if pension insureds make aware that the stated pension amount at the beginning of retirement is an extrapolation . “If the insurance history changes, so does this extrapolation.”

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What is the pension really worth?

Annually, Deutsche Rentenversicherung ships around 31 million pension information. Every pensioner automatically receives the letter if he or she is at least 27 years old and has already paid pension contributions for five years .

For the first time, anyone who receives the pension information receives an overview of which claims have been acquired so far . But more can usually not start with the information . Sometimes the amounts can even be very sobering, since at the beginning of working life rather little is earned and therefore correspondingly low pension contributions are paid. If income rises and stabilizes, the values ​​for the future standard retirement pension will be more meaningful. However, consumers should not forget that these are extrapolations that are subject to certain conditions.


Check Pension Information – request insurance history

“Pension insured persons should have their pension insurance provider send them their personal insurance history ,” advises Herbrich. Through him, they learn, for example, whether really all pensionable periods were taken into account in the pension information.

Pension information only indicates the amount of the gross pension

The German pension insurance points in the pension information point out that “from the pension and health and nursing insurance contributions and, if necessary, taxes have to be paid.” But in the following, only gross values are given. It is therefore difficult for consumers to estimate how much their pension will be after deduction of all items . This approach has recently criticized the ARD business magazine Plusminus. The letter was even referred to as pension illusion. According to the magazine, workers received “a good quarter less than expected”. In view of this criticism, it is all the more important for consumers to understand the information in the pension information as a rough guide rather than as a fixed amount.

Status quo of pension rights

As the pension information informs consumers about the status quo of their pension rights at the time of dispatch, future pension reforms can of course not be taken into account. In July 2014, for example, the so-called maternity pension was introduced, which changed the pension rights of women whose children were born before 1992. Affected individuals will therefore see changes in the projected pension value compared to the previous year in their current pension information .

Pension at 63: high demand for advice

The Federal Association of Pension Consultants eV has noted due to the mother’s pension a short-term interest in consulting . There is still a great deal of need for advice in the last year introduced abschlagfreie pension with 63. Marina Herbrich reported in an interview with that the advice from the pension providers sometimes “difficult” designed. For example, the information provided by a counseling center has proven to be wrong. Expecting to be able to retire early within a few weeks, a client announced her job. As it turned out later, however, the actual time until the tee-off-free retirement was much greater.

Anyone who plays with the idea of ​​retiring early, should confirm this step by the pension fund in writing , advises Herbrich. Even though the counseling centers do a good job, they demand that the consultants work with care and thoroughness at 63 with the new rules on pensions. “

Here you will find tips and further information on old-age provision.