Fees and Levies

FEES AND LEVIES

By 15 March 2021, financial advice providers must be registered on the Financial Services Provider Register (FSPR) and licensed by the Financial Markets Authority (FMA). There will be fees to obtain a licence, and levies for the services an entity is registered for on the FSPR.

On 29 July 2020, MBIE announced levies for financial advice providers, financial advisers, nominated representatives and authorised bodies.

Jump to sections

Licensing fees | FMA levies
Next Steps

Licensing fees

• Transitional licensing:
  • Financial advice provider application fee, $405;
  • plus Fee per authorised body in the application, $38.75;
  • Application to vary licence conditions, $100 + $155 per hour (or part thereof).
• Full licensing:
  • Single adviser business or gives advice on its own account, $612 (for 2 hours);
  • Financial advice provider that engages financial advisers, $767 (for 3 hours);
  • Financial advice provider that engages nominated representatives, $922 (for 4 hours);
  • plus Fee per authorised body in the application, $155;
  • plus Fee for every additional hour or part thereof over the base, $155;
  • Application to vary licence conditions, $100 + $155 per hour (or part thereof).
• All values exclude GST.

• Levy at initial registration:
  • $480 per financial service provider;
  • A financial advice provider company with a sole adviser is exempt from paying the initial registration levy for their company if they are (1) the only senior manager, and (2) the only director or one of only two directors. The financial adviser will have to be on the FSPR on or before 15 June 2021.
• Levy at annual confirmation:
  • Financial advice provider, $260;
  • plus Levy per nominated representative, $220;
  • plus Levy if the financial advice provider gives advice on its own account, $880;
  • these levies capped at $80,000 per financial advice provider;
  • Financial adviser, $300 (separate from the levy cap);
  • Authorised bodies, $660.
• All values exclude GST, and exclude FSPR fees.
   

• Levy at initial registration:
  • per financial service provider, $500 (from 1 July 2021), $600 (from 1 July 2022).

• Levy at annual confirmation:
  • Financial advice provider, $280 (from 1 July 2021), $340 (from 1 July 2022); 
  • plus Levy per nominated representative, $240 (from 1 July 2021), $300 (from 1 July 2022); 
  • plus Levy if the financial advice provider gives advice on its own account, $980 (from 1 July 2021), $1,180 (from 1 July 2022); 
  • these levies capped at $80,000 per financial advice provider; 
  • Financial adviser, $340 (from 1 July 2021), $400 (from 1 July 2022), separate from the levy cap; 
  • Authorised bodies, $760 (from 1 July 2021), $880 (from 1 July 2022). 
• All values exclude GST, and exclude FSPR fees.

 GO BACK TO NAVIGATING REGULATION