Applying for authorization as an independent financial planner involves making a contribution to the FSMA. Pursuant to Article 28, § 1, of the Royal Decree of 17 May 2012 on the financing of the FSMA’s operating expenses, all companies filing an application for authorization are to contribute 2,500 euros to the FSMA to cover the examination of the application.
Once authorized, independent financial planners are to make an annual contribution calculated as follows:
the basic amount is increased
- where the independent financial planner is a natural person, by 500 euros per employee empowered to represent the natural person in providing financial planning advice;
- where the independent financial planner is a legal person, by 500 euros per person effectively running the undertaking from the second person effectively running the undertaking and 500 euros per employee empowered to represent the legal person in providing financial planning advice.
The total amount due from the independent financial planner is capped at 10,000 euros.