Fee arrangements for authorised representatives

Below is a summary of the fees that apply to authorised representative transactions. This includes appointing an authorised representative, updating an authorised representative's details, and ceasing an authorised representative appointment.

Appointing an authorised representative

A $46 fee applies when appointing an authorised representative. The fee is charged on a 'per representative' basis.

For example, when appointing one authorised representative, the fee is $46. When appointing one representative as both a financial adviser and an authorised representative, the fee is $46. When appointing two authorised representatives, the fee is $92.

Updating an authorised representative's details

A $30 fee applies when updating an authorised representative's details. The fee is charged on a 'per representative' basis. Multiple updates are covered by the same fee, as long as they are in the same transaction.

For example, when updating an authorised representative's authorisations and addresses, the fee is $30. When updating the details of two authorised representatives, the fee is $60.

Ceasing an authorised representative's appointment

A $30 fee applies when ceasing an authorised representative's appointment. The fee is charged on a 'per representative' basis.

For example, when ceasing one representative as an authorised representative, the fee is $30. When ceasing one representative as a financial adviser and an authorised representative, the fee is $30. When ceasing two representatives as authorised representatives, the fee is $60.

Late fees

If an AFS licensee or authorised representative does not notify us of any updates to their authorised representative details within 30 business days of the effective date, late fees will apply:

  • A $78 late fee will apply when a notification is less than one (calendar) month late
  • A $323 late fee will apply when a notification is over one (calendar) month late

This applies to appointing an authorised representative, updating an authorised representative's details, and ceasing an authorised representative's appointment.

Exemptions for fees

When a newly approved AFS licensee is appointing representatives

When an AFS licensee is first approved, they have a period of 10 business days to appoint their representatives. During this time period, they are not charged any fees for appointing representatives.

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Last updated: 21/07/2017 12:42