How to Choose a Financial Advisor in Czechia (An Honest Guide for Expats)

Choosing a financial advisor is hard enough in your own country. As an expat in the Czech Republic, you also face a different regulatory system, a language barrier, and the basic problem of not knowing who is legitimate. This guide gives you a practical, vendor-neutral way to evaluate any advisor in Czechia — the same checks apply whether you end up working with us or with someone else.

Step 1: Verify them on the Czech National Bank register

Anyone who gives regulated advice in Czechia on mortgages, insurance, investments, or pensions must be registered with the Czech National Bank (ČNB). This is the single most important check, and it is public — you can do it yourself.

Go to the ČNB public register (JERRS) at apl.cnb.cz and search by the advisor's name or their IČO (company ID number). The register shows which regulated activities they are authorized for and which company they are registered under. If an advisor cannot give you a name or IČO that appears on the register, that is your answer — stop there.

What "tied agent" (vázaný zástupce) means

Most advisors in Czechia operate as a tied agent (vázaný zástupce) of a larger licensed company — for example a brokerage such as OVB Allfinanz, a.s. The tied agent is individually registered with the ČNB and arranges products from the panel of banks, insurers, and investment companies that their company works with.

Other arrangements also exist. Some advisors are employed directly by a single bank and offer only that bank's products. Others are investment intermediaries with a narrower scope. No single model is automatically the right one for you — what matters is that the advisor is transparent about who they represent and how that shapes the options you are shown. Ask plainly: "Whose products can you arrange, and who are you registered with?" A clear, specific answer is a good sign.

How advisors are paid

In Czechia, advice is commonly paid through a commission from the institution whose product you ultimately sign, rather than a direct fee charged to you. This is normal and legal — but you should expect it to be disclosed clearly. A good advisor tells you, in writing and before you sign, how they are remunerated, and shows you the costs inside the product itself (for example the RPSN on a mortgage).

A fair question to ask: "How are you paid if I take this product, and can I see that in writing?" You are entitled to a straight answer.

Questions to ask in a first meeting

Bring this short list to any first conversation:

• Are you individually registered with the ČNB, and under what IČO?
• Who are you registered with, and which institutions' products can you arrange?
• How are you paid if I take a product, and will you put that in writing?
• What happens to my products if I leave the Czech Republic?
• Can you handle everything in English, including the bank and insurer paperwork?

Red flags to watch for

Profi Expats, for example, is a team of CNB-registered advisors — each individually registered as a tied agent (vázaný zástupce) of OVB Allfinanz, a.s. You can verify any of them on the ČNB register using the steps above, and you can review the regulatory scope per advisor on our registered advisors page. The point of this guide, though, is that you should run these checks on anyone you consider — us included.

Frequently Asked Questions

About the author: Nicolas Griss is the co-founder of Profi Expats, a team of CNB-registered financial advisers (each individually registered as a tied agent / vázaný zástupce of OVB Allfinanz, a.s.) helping expats in the Czech Republic since 2017.