Professionals

20. Does the provision of general information constitute financial planning advice under the Law of 25 April 2014?

The provision of general information does not constitute financial planning advice under the Law of 25 April 2014.

Financial planning advice refers to advice on optimizing, inter alia, the structuring, the planning, the protection, the legal organization or the transmission of a client’s wealth, according to the needs and goals stated by such client, and excludes the provision of investment advice or any advice concerning transactions in individual financial instruments.

The provision of general information does not constitute advice specific to a client, prepared according to the latter’s needs and goals. Such information is often provided by means of newsletters or brochures intended for a general target audience (such as, for example, clients qualifying for private banking).

Examples which do not constitute financial planning advice:

  • explaining in general terms to clients the characteristics and consequences of the incorporation of an activity, the legal implications of alternative techniques for donating property, or certain foreign tax regimes.
  • informing existing or potential clients on new legislation, on tax administration views, on certain topics that are of relevance in the context of estate planning.