Mortgage brokers, insurance brokers and other financial advisors handle wide range of personal data of their clients in particular for arranging a mortgage, arranging a life insurance or signing a pension insurance contract. Often, such processing of personal data occurs only with the consent of clients. Nonetheless, if such consent is demanded by the financial advisor but not required under the GDPR regulation, then the financial advisor might commit an offence against privacy laws because the consent to the processing of personal data can be revoked at any time. Therefore, once the consent is withdrawn, the financial adviser should destroy all documentation containing the client's personal data.

Therefore, each broker should first evaluate what personal data he collects and why he needs to use it. There can be more legal reasons to process the same personal data. The common legal reason for personal data processing is the performance of a contract or the fulfillment of legal obligations. However, in order to use already obtained customer contact details for marketing purposes, such as sending special offers of financial products, the customer’s consent with such personal data processing is still required.

Based on our previous experience in the area of personal data protection, we developed a pre-filled template for brokers and financial advisors that already contains the most common ways of personal data processing within their business activities. In addition, the template is interactive and allows you to easily fulfill your notification obligation towards your customers and other persons. Thanks to our template, you will be able to start practically immediately complying with one of the basic legal obligations set forth by GDPR - keeping records of your processing activities.

Moreover, you will get access to an extensive collection of GDPR sample documents that you can use for your business.