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NAB slashes financial adviser licence fees to zero

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31 March 2020 by Aleks Vickovich, AFR

Article link: https://www.afr.com/companies/financial-services/nab-slashes-financial-advice-licence-fees-to-zero-20200331-p54fl1

The relief measures could make MLC lose fee revenue of about $9 million, based on the estimate of average licence fees of between $45,000 and $50,000 a year charged by the large bank-owned wealth managers, according to data from research house Adviser Ratings. However, NAB sources said the figure was probably closer to $5 million.


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