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.
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