Firm and affiliate fees 2024

There is no application fee to become an IFA firm or an affiliate though you will need to meet the appropriate definition for each. 

If you are accepted as a firm you will need to pay the appropriate annual firm fee based on the number of BOOMs and offices your firm has, an OPBAS set-up fee per BOOM and an OPBAS annual fee per BOOM. A BOOM is defined as a Beneficial Owner, Officer or Manager. 

If you are accepted as an IFA firm you will need to pay: 

the appropriate annual firm fee based on the number of BOOMs and offices your firm has (a BOOM is defined as a Beneficial Owner, Officer or Manager); 
an OPBAS annual fee per BOOM; and  
all affiliate fees where your firm has affiliates (an affiliate is a non-IFA member who is a director, partner or LLP member in a firm regulated and supervised by the IFA).

The firm fee includes the fee for IFA AML supervision. 

Firm fees 

		Number of offices
		1	2	3	4	5	6
Number of BOOMs	1	£309	£386	£464	£541	£618	£695
	2	£464	£541	£618	£695	£773	£850
	3	£618	£695	£773	£850	£927	£1,004
	4	£773	£850	£927	£1,004	£1,082	£1,159
	5	£927	£1,004	£1,082	£1,159	£1,236	£1,313
	6	£1,082	£1,159	£1,236	£1,313	£1,391	£1,468
	7	£1,236	£1,313	£1,391	£1,468	£1,545	£1,622
	8	£1,391	£1,468	£1,545	£1,622	£1,700	£1,777

The OPBAS annual fee of £4 per BOOM. 

All fees include VAT at 20%. 

Affiliate fee 

The affiliate annual fee is £90 from the date of application to 31 December 2024.  