Membership types & fees

FDRS is funded by Scheme Members.

There are three membership types:

  1. Group Service Providers

    If you or your organisation is part of an 'umbrella' group (eg as a franchise or licence), you may qualify under a Group Service Provider membership. Membership as a Group Service Provider means the overall membership cost can be divided among all members, thereby reducing the costs per member. If your organisation comprises more than one company of financial service providers, you can join FDRS as a Group Service Provider by completing one Application Form and an Organisation Schedule.

    If any of your companies within the group have advisers employed or contracted to them, then that company will need to complete a separate Application Form and a separate Adviser ScheduleThen each individual adviser will also need to submit an Application Form to be allocated their own membership number.

    Please check with your parent organisation or provider to clarify your status. If you have any queries, please call FDRS on 0508 337 337. 

  2. Organisation

    If you are an organisation with advisers, you will need to complete an Application Form and an Adviser ScheduleThen each individual adviser will also need to submit an Application Form to be allocated their own membership number.

  3. Individuals

    Individuals operating as financial service providers/advisers need to complete an individual Application Form.

For each type of membership, there are six categories.

If you are represented in two or more of the membership categories, the fee is determined by the type that contributes the highest percentage of your total revenue.

Membership fees are invoiced in July for the 12-month period ahead, payable by 20 August following. The fees are exclusive of GST. Payment options are available. FDRS membership can be terminated for failure to pay membership and/or complaint fees. Download the Fee Rules here.

Please call us on 0508 337 337 if you have any questions or require any assistance.

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Membership fees (All fees are exclusive of GST)

 

 Category 1 - Qualifying Financial Entities - QFE 

  (other than insurers, deposit takers, lenders and registered banks)

QFE Fee
Per adviser employee or nominated representative $174

Maximum fee: $8,700

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Category 2 - Financial adviser or broking business (individual or organisation)

(Non-QFE Membership)

  Fee
Fee per adviser                                                     $400
Organisation with ≥ 3 advisers. Per adviser $250

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Category 3 - Insurers

  Fee
Insurers                                                                                   $1,740

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Category 4 - Lenders and non-bank deposit takers

Including:

  • providing credit under a credit contract
  • being a creditor under a credit contract
Advances to retail clients/book value Fee
Less than $10 million                                                                           $870
Greater than $10 million $1,740
Registered banks $17,400

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Category 5a - Other financial service providers

Other financial service providers with or without advisers.

  Fee
Individual/organisation                                            $870
plus per additional entity in group $260

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Category 5b - Other financial service providers

 
Entering into derivative transactions, or trading in, foreign exchange, interest rate and index instruments, transferable securities (including shares), and futures contracts on behalf of another person
 
  Fee
Individual/organisation                                                              $1,740
plus per additional entity in group $260

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Category 6 - Crowdfunders and peer-to-peer lenders

Funds raised/advances Fee
Less than $10 million                                                                 $870
Equal to or greater than $10 million $1,740

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