Did ASIC quietly raise the adviser levy?
The Australian Securities and Investments Commission (ASIC) has increased the per adviser levy imposed on licensees without formal notice or fanfare, according to the Financial Planning Association (FPA).
The FPA’s head of policy and standards, Ben Marshan has used social media to point out the per adviser levy rise which he said had been lifted from $907 to $1,142.
In doing so, Marshan provided a link to the relevant page on the ASIC website which confirmed licensees that provide personal advice to retail clients on relevant financial products would pay a “minimum levy of $1,500 plus $1,142 per adviser”.
Marshan said he believed financial planners and licensees needed to be aware of the changes for budgeting purposes.
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
