First Advisory provides independent insurance brokerage services through a MIFID2- and IDD-compliant open architecture approach.

Its activities are therefore divided into three distinct moments:

Analysis of the clients’ needs: meeting with the clients and analysing their specific needs; comparative assessment of the various companies; identification of the solution that best meets the needs expressed by the clients considering the different jurisdictions and the tax implications of the various solutions (administrative / declarative compliance).

Presentation and proposal of the insurance contract: explanation of the documents and in-depth analysis of all the technical aspects of the contract and its annexes; signing of the contract; delivering a copy of the signed documents to the client.

The management and execution of the stipulated contracts: back office and customer assistance for new additional payments, partial or total redemptions, change of asset manager or custodian bank.

The three main European centers for the insurance market are Luxembourg, Ireland and Liechtenstein.

Luxembourg: within the EU, this country has originated the current Private Insurance model; it guarantees Privacy, Protection and Super-Privilege in case of noncompliance by the Company. To protect the investors, the CAA (Control Body) provides restrictions on investments in hedge funds and unlisted assets.

Ireland: over the past few years, the Private Insurance sector has experienced a very successful development in Ireland; it guarantees ample investment flexibility but a lower level of privacy. The use of non-harmonized funds is allowed without restrictions. The country is the traditional “base of operations” to access the European retail market and for the domiciliation of banking and insurance groups’ subsidiaries, both Italian and non-Italian.

Liechtenstein: it is one of the world's richest countries in the EEA (European Economic Area), and it has a monetary and customs union with Switzerland. Privacy, protection and non-seizable policies are the main strengths of a jurisdiction that allows the use of non-harmonized funds without restrictions.

Contractor Individual or legal entity who stipulates the insurance contract, directly or through a Fiduciary Company. Upon payment of the premium, the contractor has the right to exercise all the rights included in the contract

First Advisory Insurance Broker Provides the client with consulting, brokerage and follow-up services in dealing with the management of the insurance contract

Insurance Company Chosen by the Contractor at the suggestion of the Broker within a number of possible listings

Custodian bank Opens an account in the name of the Insurance Company for each individual policy. It deals with the deposit and custody of assets

Discretionary Manager Has power of attorney on the policy account. Manages the insurance fund respecting the risk profile and the strategy selected by the Contractor

Insured The individual whose life is covered by the policy

Beneficiary Individual or legal entity designated by the Contractor to receive the sums insured upon the occurrence of the insured event