The Riskinfo Story of the Week takes a look at our new poll, which reveals a relatively even divide as to whether the reduced ASIC funding levy is considered fair and equitable. If you haven’t voted yet, click below to check the results so far…
- Disagree (48%)
- Agree (38%)
- Not sure (14%)
Our latest poll seeks your feedback on what has been reported as a ‘win’ for advisers.
As we recently reported, the Government has made a decision to reduce – at least temporarily – the annual ASIC adviser levy to its 2018-19 level of $1,142 per adviser (see: Win for Advisers on ASIC Levies).
This move was welcomed by Coalition Senator Slade Brockman, who acknowledged, in a brief speech to the Senate on 30 August, the advocacy work undertaken by the AFA and by the association’s WA State Director, Stephen Knight, in particular (click the video link below).
This substantially reduced fee (advisers were looking at an annual amount well north of $3,000) appears to have been well-received by the industry as a whole.
At the same time, however, we’re also mindful that a recent Riskinfo poll suggests advisers mostly agree that they shouldn’t be required to fund ASIC’s industry oversight in the first place:
So, while the temporary reduction in the ASIC funding levy for advisers has been welcomed and seen as a positive for the sector – at a time when the cost of delivering financial advice to middle Australia continues to spiral – do you view the $1,142 levy per adviser as fair and equitable?
Tell us what you think and we’ll continue the conversation next week…