Does your Financial Adviser pass the compliance test?

One of the most important things a potential investor here in Spain must do is to ensure that they are dealing with qualified, experienced and REGULATED brokers who not only offer a choice of investment options but who also give that advice in writing, can be held accountable if negligent advice is given, who have a clear complaints process and who carry Professional Liability Insurance.

The wealth of retired population in Spain has always attracted many “shady” characters down the years, so how does one tell who is an appropriate person or company to work with? Over ten years ago we took the stance that since OMM was operating in Spain with Spanish-based clients and advisers, we should be regulated in Spain directly by the Dirección General de Seguros Y Pensiones. Although the process was complex, lengthy and expensive we persevered and were finally rewarded by being the very first non-Spanish specialist Life Broker to obtain a licence. We have valued that achievement ever since and always striven to operate totally in our clients’ best interests at all times within the legal/regulatory framework in Spain.

This has been validated recently by OMM having been given the highest praise possible by the DGS team who recently undertook a comprehensive routine inspection of our operations, looking at every aspect of how we deal with clients. We have been led to believe that OMM were the very first brokerage that the inspector had ever inspected which complied in all respects with every aspect of the legislation applicable to our profession.

We’d like to take this opportunity of sharing those comments with you – the investing public so why not take a look at the details of our new 5yr 8.5% Guaranteed Income Plan offered in conjunction with J P Morgan and Irish Life International.

Or you can contact us directly on freephone 900 10 26 94.