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Neunundvierzig Honorarberatung.

We are a fee-only advisory firm based in Munich

Our area of expertise is the provision of long-term strategic support, answering our clients' questions about how they can use their wealth to create possibilities.


Changing things just for the sake of it destroys wealth. We prefer effective long-term strategies. Before taking any action, we allow ourselves – and you – two full days to think about it. Then we talk things over together for at least an hour. That's how we protect you from bad decisions. Neunundvierzig stands for a level head and a sense of responsibility.


Financial advisors generally have at least 150 clients on their books. Our fee-only advisors never have more than 49 – and we only work with people we like and respect. Skilled work and understanding clients' needs properly requires one thing above all else: time. Neunundvierzig stands for high standards and full involvement.

7 x 7 =

The number 49 is simple and pleasing to the eye. It can be represented visually as a 7x7 square. The lucky number 7 is also a prime number, divisible only by itself and 1. We like making things clear and transparent – without oversimplifying them. Neunundvierzig stands for reducing complexity.

May 23, 1949

The Federal Republic of Germany was established on May 23, 1949. Its economic basis and the principle behind its success was a social market economy. We believe in free competition, particularly on the capital markets, and that our clients benefit from this. But we also believe that with ownership comes responsibility. Neunundvierzig stands for a market economy and an awareness of its implications.


Paris is located just below the 49th parallel. That's roughly the same latitude as the Weisswurst Equator – the line that separates the real Bavaria from the rest of Germany. We love Bavaria, including Munich and its sausages. And we love Paris, the city of love, culture and pleasure. Neunundvierzig stands for our roots, for open-mindedness, and for the good life – in Munich and in the rest of Europe.

The Crying of Lot

The protagonist of Thomas Pynchon's post-modernist novella The Crying of Lot 49 almost loses her mind trying to discover the secret behind her ex-lover's fortune. At Neunundvierzig we know that money makes life easier – but being fixated on it can have unhealthy side effects. Neunundvierzig stands for wealth as the means to an end.


Who are we – and what can we do for you?

For 14 years we have been pioneers in fee-based consulting. This has helped us develop a clear approach.

Successful cooperation relies on stable relationships and mutual respect. So let's begin by telling you something about ourselves. That way you can decide if the way we think about money and how we treat our clients is appropriate for you. Our advisory philosophy is based on a number of clear, non-negotiable principles:

Respect. We make your goals our goals.

That's why we only work with people we like and respect.

Transparency. We are advisors not salespeople – we represent your interests, and your interests only.

That's why we charge transparent fees and never work on commission, hidden or otherwise, unlike most of the banking industry.

Logic. To help you achieve your financial goals, we use effective long-term strategies based on scientific criteria.

Dissent. Hasty decisions driven by emotions are bad news for your assets in the long term.

We help you keep your cool. And that includes challenging you, if we think it necessary.

Expertise. We are there for you on all questions relating to your wealth.

If required, we can also draw on a network of additional specialists.

Relief. Money only creates possibilities if you don't have to worry about it all the time.

We make sure that money doesn't become stressful for you – so you can keep your mind clear for more important things.

Want to find out more about the founders of Neunundvierzig? Then click on our signatures in the picture below.

Dr. Nikolaus Braun and Stefan Heringer fee only advisors Munich
Entrance Neunundvierzig Fee-Only Advisors Munich
49 als Nummer

Why is money important to you?

That is the question we ask you right at the beginning of our relationship. Your answer provides us with the key to finding the right investment strategy for you. It also shows us whether we are a good match for you.

Wealth is closely bound up with ideas about value and with life choices.

For some people, money is an end in itself. They love it and want more and more of it. For others, money is an expression of status or power. They expect to be able to give orders and have others compete for their attention.

Our clients are different. For them, wealth is the means to an end, something that creates possibilities: security in old age, a better education for their children, the chance to get involved in business or philanthropy, and much more besides.

Our clients have values, goals and desires. We share them. Sounds obvious? It isn't. Our clients need advisors who understand exactly how they think and what is important for them.

"Money allows me to make my ideas and projects a reality. It gives me the freedom to make my own decisions." "In a couple of years I'd like to work only when I feel like it, not because I have to." "I inherited my money – I didn't have to work for it. How can I use it responsibly, to make a difference?" These are the sort of things we hear from our clients – people who view their wealth as a tool rather than an end in itself. We know from experience that they are generally friendly, optimistic, nice people to work with. And because they have realistic long-term goals, they value realistic, long-term investment strategies.

We are meticulous about how we choose our clients. Not because we are arrogant, but because we know we need to be a good match in order to achieve success. And since we need to have enough time to work with you individually, each of our advisors – and the firm as a whole – only supports a limited number of clients.

Staircase Neunundvierzig Fee-Only Advisors Munich

Don't listen.

We help you ignore all the noise on the capital markets.


How do we achieve lasting success?

By acting consistently, logically, seeing the whole picture – and always keeping our cool.

When we first meet a new client, we take our time. We don't want to do a quick deal with you, to give you a three-minute sales pitch. The first time we meet we discuss your personal and financial situation in detail. We try to understand what it is you want to achieve with your wealth. We are interested in your past experience investing your money. And we want to give you the opportunity to ask anything you like about the firm and our investment strategy. Then we meet you again a week or so later and outline our plan for achieving your goals on the basis of our initial discussion.

Up until that point, you have nothing to pay. We only charge you if you decide to use our services. That gives you the chance, without financial or time pressure, to decide whether you want to work with us long term or not. It also gives us a basis on which to decide if we can really help you or not. Because that's the only way to achieve lasting success for your money.

If you do decide to use our services, what happens next? Well, if you are used to receiving regular news flashes from your bank advisor giving you the latest on the capital markets, then you will be disappointed. Our approach is the exact opposite: we help you ignore all the noise on the capital markets.

Constantly fiddling with your portfolio on the basis of forecasts, reacting to every last movement on the stock market, running after the latest must-have shares – investment experts know that this is what destroys wealth. But the financial industry wilfully ignores that fact. In fact, the financial industry continuously comes up with new stories and hype so it can sell you its overpriced products and restructure your portfolio one more time.

When it comes to your finances and the opportunities they provide, what you need is a logical, rational approach based on statistics. As far as the right investment strategy for you is concerned, we will probably bore you rather than surprise you. Instead of the latest news, we will regularly ask you about things that go beyond a pure investment strategy. With the help of our network of experts we can support you on questions of financing, take a critical look at whether you have any unnecessary insurance policies, help you think about inheritance issues and draw up a living will that reflects what you believe in. We are also happy to talk with your children about money matters, strengthening their immune system against the financial industry from an early age. Because effective wealth planning is important throughout your life – and beyond.*

Interested in Neunundvierzig Honorarberatung? Unfortunately we're not taking on any new clients at the moment. However, if you're looking for a long-term, strategic, fee-only advisor we would be happy to discuss with you whether we are a good match in principle and should make an appointment for a couple of weeks' time. You can reach us between 7 a.m. and 7 p.m. on +49 89 552889-49 or send us an email on

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