What does it cost?

For a financial planning practice with $300,000 in revenue:

  • PI Insurance – $6,000 to $12,000
  • ASIC levy – $4,000 to $6,000
  • Annual return audit – $1,500 to $3,000
  • Annual licensee review and ad-hoc support – $3,500 to $5,000
  • Advice process and documentation support – $1,000 to $3,000
  • Various memberships and lodgements – $500

Total cost – About $20,000 to $25,000 plus financial planning software


For a financial planning practice with $1,000,000 in revenue:

  • PI Insurance – $15,000 to $18,000
  • ASIC levy – $5,000 to $8,000
  • Annual return audit – $2,000 to $4,000
  • Annual licensee review and ad-hoc support – $4,000 to $6,000
  • Advice process and documentation support – $1,000 to $5,000
  • Various memberships and lodgements – $500

Total cost – About $30,000 to $40,000 plus financial planning software


For a financial planning practice with $3,000,000 in revenue:

  • PI Insurance – $45,000 to $55,000
  • ASIC levy – $8,000 to $12,000
  • Annual return audit – $3,000 to $5,000
  • Annual licensee review and ad-hoc support – $5,000 to $7,000
  • Advice process and documentation support – $1,000 to $8,000
  • Various memberships and lodgements – $500

Total cost – About $65,000 to $85,000 plus financial planning software