# Miscounselling

- Canonical URL: https://www.gerhardmerk.de/miscounselling
- Post ID: 587495
- Modified: 2023-07-25T21:03:33+00:00
- Language: en

## Definition

In the financial market, incorrect recommendations made by financial advisors or bank employees to customers, particularly with regard to investments. - In the case of insurance companies, miscounselling usually relates to proposals to insured persons for very specific contracts that the customer ultimately does not want. The supervisory authorities often receive complaints about this. However, it is seldom possible to prove that false advice has been given. - It is seldom made clear that there are many customers who do not want to hear their advisor's advice about risks or who even think they can beat the market. However, according to all experience, it is precisely these clients who blame the financial advisor in the event of losses. - See investment advice, investment recommendation, record-keeping requirement, advice, quality of advice, steam room, bad buy, financial forums, employee register. - See BaFin Annual Report 2005, p. 199 (cases from practice), BaFin Annual Report 2009, p. 10, p. 119 (enhanced rights for clients in the event of misadvice), pp. 245 et seq. Cases from practice). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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