How do I find the right one for my money?
If you don’t have money, you have worries. Who has a lot, but also. An online platform can help: it brings wealthy people and asset managers together.
Whe has no fortune, has worries. But also who has wealth. Because at least it should be preserved, ideally even multiply. So you have to take care of it. Good for those who now have so much wealth that this is interesting for a professional administrator. However, this is where the next difficulty begins: How do you find a good manager who can do the job at a reasonable price?
This is exactly where the Finanzausschreibung.de platform hooks up. Behind it is Elmar Peine from Berlin, who once worked as a financial journalist and is now an entrepreneur. The idea behind “financial tender” is simple: the platform brings investors and asset managers together directly or through an intermediary. “Investors or brokers can tender the management of their assets with us,” explains Peine. “The asset managers apply for the mandates. Our platform selects relevant partners through intelligent ‘matching’. “
Since the search is carried out anonymously, investors would also not have to worry that they would end up being assaulted by asset managers. The search is free, if a contract is concluded, Finanzausschreibung.de either receives a fee from the asset manager. Some administrators currently only pay a flat fee. “We do this in order to keep the entry barriers as low as possible in the beginning,” says Peine.
According to Peine, 40 administrators have so far actively registered, including three premium providers. However, up to 800 are addressed and asked to submit an offer. All of them either have a banking license or are permitted to exercise financial portfolio management. “On the one hand, it is becoming more and more difficult for asset managers to identify potential clients. Status symbols are becoming less and less common, and many gain assets through inheritance, for example, and thus remain anonymous, ”says Peine, pointing out the difficulties in customer acquisition.
How the tender works
Investors who put out a tender must answer a number of questions: For example, which investments the asset manager is allowed to make, whether there should be more or fewer shares or which benchmark should be used. But there is also the question of the fee model. There are three to choose from: a percentage flat rate that covers everything, a fee that only covers management, or a management fee with additional profit sharing. If you start a tender, you will receive legally non-binding information in response to a preliminary inquiry. Investors can therefore contact the administrators at any time or cancel the tender. If you don’t make up your mind right away, you may be able to drive better. Because the administrators can improve their offers during the ongoing process.
The idea seems simple. But of course you first have to bring together a number of asset managers. Peine benefited from his contacts in the industry. A similar service is currently only offered by the “Institutional Money” platform – although this is reserved for institutional investors such as insurers and pension funds. Peine wants to cover both customer groups with his platform, whereby he has more of an eye on smaller institutions: municipalities and other public bodies as well as foundations or family offices. “We believe that especially young, internet-savvy people and public and semi-public bodies that have to advertise due to legal requirements will find the platform interesting,” says Peine. He also has his eye on financial intermediaries such as foundation administrations, law firms or insurance brokers. Anyone who is clever does not register as an investor, but as an agent and collects part of the tipster’s commission.
Even after the original tender, the company continues to take care of the investors and offers Finanzausschreibung.de a free follow-up service for customers. This should check whether the asset managers keep their promises from the tender afterwards.