Professionals

24. Does the use of simulation tools by independent financial planners and regulated undertakings constitute financial planning under the Law of 25 April 2014?

If such simulation tools allow for financial planning advice to be given (in other words, if those tools as such provide 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), their use shall constitute a planning activity falling under the requirements of the Law of 25 April 2014.

Such tools shall not, however, be regarded as financial planning under the Law of 25 April 2014 if they do not allow for advice to be given on optimizing the client’s wealth.

Example:

simulation tools used in the provision of investment services (savings calculator or simulator to project future income based on the financial instruments owned by the client).

Those simulation tools would therefore have to be examined on a case-by-case basis.