Conflict-of-Interest Policy
Radical independence is our core promise. This policy explains how we prevent, disclose and resolve conflicts — so your decision stays uncompromised.
1) Scope & definitions
This policy applies to HNCM (Hoch & Nauendorf Curated Motors) and anyone acting on our behalf (employees, contractors, partners) in all advisory activities for clients worldwide from our base in Stuttgart, Germany.
- Commission/Kickback: Any value received for steering a client to a seller, product or service.
- Referral fee/Bounty: Payment for sending a lead, regardless of outcome.
- Affiliate link: A link that may generate a payment if used.
- Conflict of interest: Any situation where personal or business incentives could influence objective advice.
2) Independence principles
- We charge a transparent advisory fee for our packages.
- No revenue from dealers, manufacturers, finance or insurance.
- No success fees tied to a specific brand, seller or transaction.
- Written Why/Why-Not for included and excluded options.
- Disclosed assumptions, limits and uncertainty bands.
- No black-box rankings; criteria are inspectable.
3) Prohibited incentives
- Dealer/manufacturer commissions, kickbacks or sales-based bonuses.
- Volume targets, spiffs, rebates, marketing credits or free inventory.
- Paid placements or undisclosed sponsored recommendations.
- Referral bounties for sending clients to vendors, financiers or insurers.
If we are ever offered such incentives, we decline and record the incident.
4) Permitted items (de minimis)
Non-monetary courtesies of nominal value (e.g., coffee, pens at events) that do not — and could not reasonably be perceived to — influence advice may be accepted, but are discouraged. Anything beyond nominal value is declined or, if unavoidable, disclosed to the client before continuing.
5) Affiliates, referrals & sponsorships
As a rule, we avoid affiliate programs and paid referrals. If we ever use an affiliate link (for tools or resources), we disclose it clearly at the point of use and always offer a non-affiliate alternative. We do not sell sponsored placements in client deliverables.
6) Personal holdings & outside interests
Team members must disclose any material financial interests related to the automotive market (e.g., stock holdings in automakers, ownership in dealerships, or paid advisory roles). If a reasonable person could see this as a conflict for a client case, we recuse that person and disclose the situation to the client.
7) Research independence & data sources
Our research combines public data, paid databases and expert knowledge. Source types can include manufacturer documentation, safety ratings, recall databases, reliability studies, market listings and parts catalogs. Partners may share data, but no partner can veto or edit our conclusions.
8) Listings, vendors & concierge work
When we assist with listings (VIN checks, due diligence, negotiation logic), we remain independent of the seller. We do not transact, hold funds or take a spread. Our fee is the same regardless of which option you choose or where you buy it.
9) Disclosure, escalation & client choices
If a potential conflict is identified, we disclose it to you promptly and propose mitigation (e.g., recusal, alternative researcher, or removing an option from consideration). You always decide whether to proceed. Material disclosures are documented in the Buyers Guide or email.
10) Governance, audits & updates
This policy is part of onboarding and annually re-acknowledged by everyone who works with clients. We log offers of prohibited incentives, review incidents quarterly, and update this policy as needed. The latest version is always available at this URL.
Jurisdiction & compliance: We operate from Stuttgart, Germany, and uphold applicable anti-bribery and fair-competition principles. This document does not create third-party beneficiary rights.
11) Contact
Questions or concerns about this policy? Reach out via our contact page. We welcome scrutiny — independence only works when it is visible.