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of <h1>Regulator allows advisers to charge AUA-based second-opinion fees up to 2.5% p.a., with annual disclosure and consent</h1> Regulator permits registered investment advisers to charge AUA-based fees for providing a second opinion on client assets held under pre-existing distribution arrangements, subject to a cap of 2.5% per annum of the asset value. Advisers must obtain and renew client disclosure and consent annually, explicitly informing clients that distributor charges for those assets will still apply. The amendment revises the Master Circular clause that previously excluded such assets from AUA fees and takes immediate effect under the regulator's statutory powers to protect investors and regulate the market.
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