Making Compliance Easy Have you outgrown your Dealer Group? Is it time for your own licence?
Making Compliance Easy
Have you outgrown your Dealer Group?
Is it time for your own licence?

What does it cost?

The cost of running your own licence will vary from practice to practice. The following costs are based on our experience with many different clients. We are always happy to discuss what it may cost your practice.

 

For a practice with $300,000 in revenue holding a full licence:

  • PI Insurance - $6,000 to $10,000
  • Annual return audit - $1,500 to $3,000
  • Annual licensee review - $4,000
  • Advice process support - $2,500
  • Various memberships and lodgements - $1,500

Total cost - $15,000 to $20,000 plus other costs (financial planning software, business development support, practice management support)

 

For a practice with $1,000,000 in revenue holding a full licence:

  • PI Insurance – $15,000
  • Annual return audit - $2,000 to $4,000
  • Annual licensee review - $5,000
  • Advice process support - $2,500 to $5,000
  • Various memberships and lodgements - $1,500

Total cost - $25,000 to $30,000 plus other costs (financial planning software, business development support, practice management support)

 

For an accounting practice holding a limited licence:

  • PI Insurance – $5,000 (still early days in this area)
  • Annual return audit - not required
  • Annual licensee review - $4,000
  • Advice process support - $5,000
  • Various memberships and lodgements - $1,500

Total cost - $16,000