Financial advisers are a new type of business subjects their activities being defined in the provisions of Article 10 of the Act on Financial Intermediation and Financial Counseling.
- Financial adviser is a person having located its registered office or place of business in the territory of the Slovak Republic and pursuing financial counseling upon a written contract for the provision of financial counseling concluded with a client (hereinafter referred to as the “contract for the provision of financial counseling”). The financial adviser within the sector of insurance and reinsurance is a person with a registered seat or the main office in the territory of the Slovak Republic in the case of a legal person or a person having a permanent address and place of business in the territory of the Slovak Republic in the case of physical person. The financial adviser shall not be allowed to pursue financial intermediation.
- Financial counseling may be pursued in the territory of the Slovak Republic only by a financial adviser.
The subject matter of financial counseling is:
- Financial counseling means provision of professional help, information, opinions, recommendations and personal financial plans to a client in connection with a single financial service or more financial services arising from impartial analysis of a sufficient number of available services including subsequent conclusion or alteration of a contract on the provision of a financial service at the request of a client, on his behalf and into his account.
- Besides the activities stipulated in (1) financial counseling in the sector of capital market means also the provision of an investment service of investment counseling in relation to transferable securities and mutual fund shares and the securities issued by foreign subjects of collective investment.
- Besides the activities stipulated in (1) financial counseling in the sector of insurance and reinsurance means also finding, an assessment and processing of impartial analysis of an insurance risk.
Financial advisers belong to subjects under supervision and are registered in the Registry of the National bank of Slovakia , see http://regfap.nbs.sk/zoznam.php