A move in the right direction
For licensees with more than five advisers, it actually makes good sense regardless of whether the dealer passes it on to advisers.

For example, if a dealer is charged $12,905 and has 200 advisers this would work out to just $615 per adviser plus adviser levy of $772 = $1,383. For a team of six advisers this would be $2,150 + $772 adviser levy = $2,922.

I understand this is not ideal for smaller groups or smaller writers and believe the fairest and most equitable solution would be a levy of say, approximately 0.5% of fees paid by the dealer to adviser. For example, $500 per $100,000 of fees generated.

The best solution is to abolish the levy all together.

But for now, the proposal is better than the current system. To sign the petition, click on the following link:

www.aph.gov.au/e-petitions/petition/EN5784