ASIC industry levy to increaseBY KARREN VERGARA | FRIDAY, 23 JUL 2021 2:48PMFinancial advisers will need to fork out an extra 27% to pay the regulator's industry funding levy for the 2021 financial year. Related News |
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Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
This is already up to $3,700 per adviser since the recent exodus.
Didn't ASIC makes billions of dollars out of the royal commission against the institutions that have caused most of these problems for the current advisers still standing. Why are we still paying for the institutions that have exited the industry. With the amount of funds ASIC has received in the last couple of years they could fund the levy for the next 20 years, plus.
ASIC wonders why advisers are heading towards the exit with all the additional charges we have to absorb from additional fees from government, Licensees, education requirements, etc which are near impossible to pass onto the clients.