Member firm and affiliate fees 2018/2019
There is no application fee to become an IFA member firm or an affiliate though you will need to meet the appropriate definition for each.
If you are accepted as a member firm you will need to pay the appropriate annual fee based on the number of BOOMs and offices your firm has. A BOOM is defined as a Beneficial Owner, Officer or Manager.
Member firm fees
|Number of offices|
|Number of BOOMs||1||£190||£237.50||£285||£332.50||£380||£427.50|
All fees are subject to VAT at 20%.
The member firm fee includes the fee for IFA AML supervision. It also includes free access for you and up to three staff members to AMLCC, an anti-money laundering product which assists accountants and tax advisers with their anti-money laundering compliance.
The affiliate annual fee is £70.00 from the date of application to 31 December 2019. It is not subject to VAT.