What Honorarfinanz AG does

Honorarfinanz AG is a German independent fee-only financial advisory firm (Honorarberater) headquartered in Karlsruhe, specializing in financial planning, retirement planning, investment advisory, and wealth management. The firm is one of only 19 BaFin-certified fee-only advisory institutions in Germany and operates under a statutory prohibition on accepting commissions (Provisionsannahmeverbot), structurally eliminating commission-driven conflicts of interest. It primarily serves medical professionals (Ärzte und Zahnärzte), entrepreneurs and business executives (Unternehmer und Geschäftsführer), and general retail investors in Germany, with specialized service lines for the first two segments and foundation advisory (Stiftungsberatung) as a separate offering.

The firm's core methodology is a passive, forecast-free investment approach grounded in portfolio theory and implemented through cost-efficient ETFs and index funds. It offers four named portfolio strategies — Weltportfolio, Nachhaltigkeits-Portfolio, Wissenschaftliches Portfolio, and Individuelles Portfolio — alongside digital self-service tools including Digitale Finanzplanung and Depotcheck. Distribution combines a nationwide network of local field advisors (Berater vor Ort) with content-led digital channels (ETF Ratgeber blog, Investor-Letter newsletter, seminars, video, and social media on Facebook, Xing, YouTube, and Instagram).

Revenue is generated exclusively through direct client fees on a subscription/recurring basis under the fee-only model; pricing is not publicly disclosed. The company is a member of VUV (Verband unabhängiger Vermögensverwalter Deutschland e.V.) and is privately held under leadership of Vorstand Davor Horvat, with no disclosed institutional, venture, or private equity ownership.

Name

Honorarfinanz AG

Legal name

Honorarfinanz AG

Website

https://honorarfinanz.ag

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Honorarfinanz AG is a BaFin-certified German fee-only financial advisor headquartered in Karlsruhe, providing independent financial planning, retirement, and ETF-based investment advisory to physicians, entrepreneurs, and retail clients across Germany.

Ownership category

akta.pro rank

Product category

Independent Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Only Advisory (FSAEAAAL)

akta.pro secondary industries

Private Banking & UHNW Wealth Advisory (FSAEABAC), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

Keywords

• Fee-only financial advisory
• Retirement planning services
• Wealth management
• Investment advisory
• ETF portfolio management

Headquarters

HQ city

Karlsruhe

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fee-only Advisory Services: The company operates exclusively on a fee-only (Honorarberatung) model, charging clients directly for financial advisory services rather than earning commissions from financial product providers. This model eliminates conflicts of interest and aligns the advisor's incentives with client outcomes.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Honorarfinanz AG provides independent, fee-only financial advisory services to private clients in Germany, including financial planning, retirement planning, investment advisory, and wealth management. The advisory is delivered through a network of local field advisors and a digital self-service platform, using passive index fund (ETF) strategies across four portfolio approaches (Weltportfolio, Nachhaltigkeits-Portfolio, Wissenschaftliches Portfolio, Individuelles Portfolio). As one of only 19 BaFin-certified fee-only institutions in Germany, the firm is legally prohibited from accepting commissions, ensuring advice is independent of product-provider incentives.

Product overview

Honorarfinanz AG is a German independent fee-based financial advisory company offering a comprehensive suite of financial planning and investment management services. The company operates as a BaFin-certified institution (one of 19 in Germany) providing services entirely free of commissions and conflicts of interest. The core offering comprises financial planning, retirement planning, investment advisory, and wealth management, delivered through four main portfolio strategies (Weltportfolio, Nachhaltigkeits-Portfolio, Wissenschaftliches Portfolio, and Individuelles Portfolio) using cost-efficient ETFs. Specialized services target doctors, dentists, entrepreneurs, and executives, with additional digital offerings including financial planning tools, portfolio reviews, and an investor newsletter.

Differentiator

Problem solved

Functional benefit

Products and services

• Finanzplanung (Financial Planning) Comprehensive overview of personal finances, aligning liquidity, retirement provisions, and investments with individual financial goals. Delivered by independent fee-only advisors to private clients in Germany.
• Altersvorsorgeplanung (Retirement Planning) Calculates retirement provisions and creates plans for retirement, addressing coverage gaps, pensions, and savings for old age. Provided to private clients seeking independent retirement advice.
• Anlageberatung (Investment Advisory) Identifies suitable investment options tailored to individual goals: highly efficient, commission-free, and customized to personal risk and return expectations. Offered to private clients seeking independent investment advice.
• Portfoliostrategien (Portfolio Strategies) A suite of four portfolio strategies based on the Weltportfolio approach and implemented through cost-efficient ETFs, including Weltportfolio, Nachhaltigkeits-Portfolio, Wissenschaftliches Portfolio, and Individuelles Portfolio. Designed for long-term-oriented investors.
• Vermögensverwaltung (Wealth Management) Wealth management services focused on long-term asset growth and optimization for private clients, implemented through the firm's fee-only advisory model.
• Stiftungsberatung (Foundation Advisory) Specialized advisory services for foundation structuring and management, provided to foundations and their stakeholders.
• Honorarberatung für Mediziner (Fee-Only Advisory for Medical Professionals) Specialized advisory concepts for doctors and dentists addressing their unique financial challenges and optimizing their financial structure, including retirement planning and practice-related financial events.
• Anlageberatung für Unternehmer (Investment Advisory for Entrepreneurs) Tailored and highly efficient financial services for entrepreneurs and executives across various industries, covering exit planning, wealth structuring, and investment management.
• Weltportfolio (World Portfolio) Investment strategy for clients who want to invest specifically in global regions and directly participate in market returns through passive index funds.
• Nachhaltigkeits-Portfolio (Sustainability Portfolio) Investment strategy combining sustainability with ethical, social, and ecological considerations for environmentally conscious investors seeking independent fee-only advice.
• Wissenschaftliches Portfolio (Scientific Portfolio) Portfolio offering highest diversification and maximum returns based on capital market research factors, targeting investors seeking the highest scientific rigor.
• Individuelles Portfolio (Individual Portfolio) Custom-built portfolio for investors seeking a personalized wish portfolio, ideal for professional investors and self-directed decision-makers requiring personalized strategies.
• Digitale Finanzplanung (Digital Financial Planning) Digital financial planning tools and services enabling clients to manage their financial planning online, complementing the firm's local-advisor offering.
• Depotcheck (Portfolio Review) Portfolio review and analysis service used to evaluate existing investments, typically as a diagnostic entry point for prospective clients.

Quantifiable outcome

• Up to 100% increase in investment returns
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• VUV (Verband unabhängiger Vermögensverwalter Deutschland e.V.)minorOthersHonorarfinanz AG is a member of the VUV (Association of Independent Asset Managers in Germany). Membership indicates alignment with industry standards for independent wealth management.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Berenberg Bank: One of Germany's oldest private banks offering wealth management, investment advisory, and asset management to private and institutional clients. Operates in the same HNW advisory space as Honorarfinanz but with a much broader product portfolio and full banking license.
• Flossbach von Storch: Cologne-based independent asset manager offering wealth management and advisory services to German private clients. Operates broadly in the same wealth advisory space with a focus on multi-asset strategies, though not strictly fee-only — serves as a broad incumbent competitor.
• MLP SE: Major German financial advisory group with a broad client base of professionals, doctors, and wealthy private clients. While MLP has historically operated on a commission model, it is increasingly adding fee-based advisory services, making it a broad incumbent competing for the same medical-professional and HNW segment.

Emerging players

• Scalable Capital: Munich-based digital wealth manager and robo-advisor offering low-cost ETF-based portfolio management to German retail investors. Competes with Honorarfinanz on the passive ETF/index fund thesis but at significantly lower price points via a fully digital delivery model.
• Oskar (formerly Cashboard): Berlin-based digital wealth management platform providing automated ETF portfolio management to German retail investors. Directly competes with Honorarfinanz's ETF-based investment strategies but through a fully digital, low-fee model targeting a younger, more cost-sensitive client base.
• Acatis Investment: Frankfurt-based independent asset manager (Value-oriented) offering fund products and advisory services with an academic/quantitative investment approach. Shares the scientific, evidence-based investment philosophy with Honorarfinanz, though primarily serves institutional and intermediary clients.

Direct peers

• HPC Hamburg Port Consulting (HPC Vermögensverwaltung): German fee-only financial advisory firm offering independent financial planning and asset management to private clients. Comparable to Honorarfinanz in its BaFin-regulated, commission-free business model focused on passive investment strategies.
• Finvesto Vermögensberatung: German fee-only advisory firm (Honorarberater) offering independent financial planning and investment advisory based on passive ETF strategies. Directly comparable business model with the same BaFin-certified, commission-free positioning in the German advisory market.
• Gerd Kommer Invest: Munich-based fee-only financial advisor (Honorarberater) specializing in passive index fund strategies using ETFs. Direct competitor with a similar scientific, forecast-free investment approach and focus on independent, commission-free advice for German retail and HNW clients.

Regional players

• Vermögensverwaltung Andreas Meinhardt: Independent German fee-only wealth manager offering portfolio management and financial planning on a regional basis. Comparable in its commitment to independent, commission-free advice using passive ETF strategies, though serving a more localized client base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCPXSLfdYJPIYDJbNAV1z0Mg
• Facebookfacebook.com/HonorarfinanzAG
• Instagraminstagram.com/honorarfinanz
• LinkedInlinkedin.com/company/honorarfinanz-ag

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Honorarfinanz AG