According to its annual Cost Recovery Implementation Statement (CRIS), ASIC said the estimated cost for licensees that provide personal advice to retail clients on relevant financial products will be $39.2 million.
This is down 12 per cent from $45 million last year, a figure that was already revised down in December 2024 from $48.3 million in initial estimates.
The estimated levy will be a minimum levy of $1,500 plus $2,314 per adviser for licensees that provide personal advice to retail clients on relevant financial products – this is also down from $2,691 in the previous levy.
However, for licensees that provide general advice only, this year’s estimated levy has risen substantially from $2,494 to $4,665. Estimated costs have risen from $2.7 million to $5.2 million.
Licensees that provide personal advice to wholesale clients only have seen their levy largely unchanged at $825, up from $812 last year, while estimated total costs have risen from $1.61 million to $1.64 million.
The total for the financial advice sector overall is $46.1 million, down from $53.5 million last year.
|
Subsector |
Estimated levy |
Estimated cost |
|
Licensees that provide personal advice to retail clients on relevant financial products |
Minimum levy of $1,500 plus $2,314 per adviser |
$39.271 million
|
|
Licensees that provide personal advice to retail clients on products that are not relevant financial products |
$80 |
$0.044 million |
|
Licensees that provide general advice only |
$4,665 |
$5.234 million |
|
Licensees that provide personal advice to wholesale clients only |
$825 |
$1.642 million |
Source: ASIC, July 2025
