1. Identify the person and the business
Start with the adviser’s full name, business name and contact details. For untied insurance intermediation, registration in FINMA’s public register is mandatory. Search the official register yourself and compare the result with the identity presented to you. Check the person and, where relevant, the business involved. A registration number copied into a message is not sufficient identification. FINMA also warns that insurance-intermediary registration does not automatically authorise other financial services. Registration is not an endorsement of a product or a promise of returns.
2. Ask whether the intermediary is tied or untied
Under FINMA’s framework, untied intermediaries act in their clients’ interests; tied intermediaries have a loyalty relationship with an insurer. The two statuses cannot be exercised simultaneously. Tied intermediaries are generally not entered in the public register, although limited exceptions exist. Absence from that register therefore needs to be interpreted in light of the stated role. Ask for a clear explanation of the status, who the intermediary represents and which services the engagement includes.
3. Understand the remuneration before signing
FINMA states that untied intermediaries must disclose compensation received from insurers or third parties in connection with their services. Ask how this applies to your proposal and whether you owe a separate fee. Request the remuneration information, the scope of any paid work and any conditions attached to a promotional offer. A consultation advertised as free does not by itself explain the intermediary’s overall remuneration. Keep the disclosure with your quotation rather than relying only on a verbal summary.
4. Define what is actually being compared
Ask which insurers, products and contract types are included, and which are outside the exercise. An untied status does not demonstrate that every market product has been reviewed. For example, when comparing pillar 3a, clarify whether the exercise includes bank accounts, securities-based solutions and insurance policies, or only one category. This is a hypothetical comparison question, not a recommendation for a particular solution. Write down your priorities first: budget, protection, investment risk, flexibility and time horizon.
5. Request reasons and a practical alternative
Ask the adviser to explain in writing why the proposal fits those priorities, what it costs and what changes if you keep your current arrangement. Request the applicable conditions, exclusions, start date and cancellation rules. For a long-term contract, ask how reduced income or an early exit would affect you. These are practical review questions, not a claim that every product has the same disclosure regime. Resolve any inconsistency between a sales illustration and the contract before committing.
6. Leave with a complete decision file
Keep the verified identity, status explanation, remuneration information, comparison scope, quotation and policy conditions together. Record unanswered questions and the agreed next step. If you later raise a problem, a dated written record is more useful than memory alone. FINMA accepts reports of possible unlawful intermediary conduct but cannot resolve private-law disputes. Its supervisory role is different from deciding your individual claim for compensation. Start by asking the adviser for a written response and the appropriate complaints route.
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Sources & further reading
FINMA — Insurance intermediaries
FINMA — Register of insurance intermediaries (EN) · FINMA — Registre des intermédiaires d’assurance (FR)
FINMA — Duties and remuneration disclosure (EN) · FINMA — Obligations et publicité des rémunérations (FR)
FINMA — Intermédiaires liés et non liés (FR)
FINMA — Problems with an insurance intermediary / Problèmes avec un intermédiaire (EN)