The controlling institute Firstfive has expanded its financial service provider database and adapted it to the digital possibilities: In the future, users of the so-called Firstfive forum have the opportunity to advertise management mandates with individual specifications online.
In addition to the selection of provider groups, the risk profile and the expected return can be specified. It also determines whether asset management should be on the basis of individual stocks, funds and/or ETFs.
The requirements for the conditional offer are fixed via an all-in fee up to a performance-related compensation. In addition, further requirements with regard to a foreign currency part and desired asset classes are possible.
Another selection criterion may be participation in Firstfive's depot performance comparison, which provides a track record for the past.
A prerequisite for participation in a tender is that the asset manager has a license under the Banking Act for portfolio management. Registration in the database is free of charge. If successful, a one-time commission is due. This amounts to a quarter of the annual fee agreed with the customer.