Talking about fees for no service, I have to pay a significant annual fee to ASIC as a registered financial adviser, BUT, because I am running my financial advice business as a part-time side-gig I have NO clients (so far), so am paying ASIC a hefty annual fee to NO SERVICE (since there is nothing to 'supervise' or 'review' when I have no clients receiving personal financial advice!). How about checking yourself ASIC? ps. I sent feedback about this years ago (suggesting they charge a fee per SOA rather than a blanket annual fee per registered adviser, and ASICs response was that they don't keep track of how many SOAs each registered adviser does each year -- how is that for totally careless and pointless 'supervision'
ps. I am all in favour of advisers getting in trouble if they charge an ongoing fee to 'clients' that they don't even provide a service to each year, but that could easily be eradicated by advisers only being able to charge clients an annual fee for the coming 12 months, and not have the problematic 'ongoing fee' rigamarole. ASIC (and the ATO) are always looking for the most impractical, costly, and self-serving (levy increasing) way to 'supervise' the financial advice profession.