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The ES does not say a client cannot be charged based on a percentage of the amount they invest eg, $100K invested and the fee is 1% of that amount = client pays $1000.

The breach is if you, as an adviser, are paid a 'variable' amount such as a bonus for recommending particular products offered by your licensee, eg a bonus based on volume or amount invested in the licensees product. This is conflicted remuneration and has been banned since December 2017.