Adviser:

an Independent Adviser or intermediary is defined as an individual who, not being attached to any supplier, is capable of examining with his/her customer - in complete freedom - the advisability of selecting a particular product or  service from the range of products and services available on the market.

• an Adviser acts as a service provider for his or her client,
• he is fully independent by nature, and an Adviser is required to offer absolutely impartial advice,
• an Adviser is remunerated exclusively by his or her client
• an Intermediary can be independent (Broker) and he/she is  to act either as a representative of his/her customer, or as a supplier of a product and/or service;

Agent:

an intermediary is an agent if he/she is remunerated by the supplier whose product or service is proposed;

• the majority of European intermediaries represents between 3 and 5 product or service suppliers; they can hold several mandates (multi-tied agents);
• although a multi-mandated Intermediary does not give his or her customer totally impartial advice, the latter can however have access to a selection of products and services an Intermediary who is single-mandated (representing only one product and/or service supplier), is evidently not in a position to advise his or her customer, since there is no choice to be offered

Advisers and Agents have jointly obligations:

• to ensure the adequacy of their working capital with the necessary infrastructures for providing quality assistance for their clients/customers,
• to be covered by a professional civil liability indemnity insurance
• to have the requisite experience, training and qualifications
• to be placed under the supervision of a public supervisory body