Membership types & fees
Membership types & fees
FDRC is funded by Scheme Members.
There are three membership types:
1.Group Service Providers
If you or your organisation is part of an ‘umbrella’ group (eg as a franchise or licence), you may qualify under a Group Service Provider membership. Membership as a Group Service Provider means the overall membership cost can be divided among all members, thereby reducing the costs per member. If your organisation comprises more than one company of financial service providers, you can join FDRC as a Group Service Provider by completing one Application Form and an Organisation Schedule.
If any of your companies within the group have advisers employed or contracted to them, then that company will need to complete a separate Application Form and a separate Adviser Schedule. Then each individual adviser will also need to submit an Application Form to be allocated their own membership number.
Please check with your parent organisation or provider to clarify your status. If you have any queries, please call FDRC on +44 844 774 7710.
If you are an organisation with advisers, you will need to complete an Application Form and an Adviser Schedule. Then each individual adviser will also need to submit an Application Form to be allocated their own membership number.
Individuals operating as financial service providers/advisers need to complete an individual Application Form.
For each type of membership, there are six categories.
- Category 1 – Qualifying Financial Entities – QFE (other than insurers, deposit takers, lenders and registered banks. See Categories 3 and 4 below).
- Category 2 – Financial adviser or broking business (individual or organisation)
- Category 3 – Insurers
- Category 4 – Deposit takers, lenders and registered banks
- Category 5 – Other financial service providers
- Category 6 – Crowdfunders an peer-to-peer lenders
If you are represented in two or more of the membership categories, the fee is determined by the type that contributes the highest percentage of your total revenue.
Membership fees are invoiced in July for the 12-month period ahead, payable by 20 August following. The fees are exclusive of GST. Payment options are available. FDRC membership can be terminated for failure to pay membership and/or complaint fees. Download the Fee Rules here.
Please call us on +44 844 774 7710 if you have any questions or require any assistance.
Membership fees (All fees are exclusive of GST)
Category 1 – Qualifying Financial Entities – QFE
(other than insurers, deposit takers, lenders and registered banks)
|Per adviser employee or nominated representative||£5,000 (Maximum fees to £15,500)|
Maximum fee: £15,500
Category 2 – Financial adviser or broking business (individual or organisation)
|Fee per adviser||£2,650|
|Organisation with ≥ 3 advisers. Per adviser||£1,850|
Category 3 – Insurers
Category 4 – Lenders and non-bank deposit takers
- providing credit under a credit contract
- being a creditor under a credit contract
|Advances to retail clients/book value||Fee|
|Less than €10 million||£4,500|
|Greater than €10 million||£7,500|
|Organisation with ≥ 3 advisers. Per adviser||£850|
Category 5a – Other financial service providers
Other financial service providers with or without advisers.
|plus per additional entity in group||£750|
Category 5b – Other financial service providers
Entering into derivative transactions, or trading in, foreign exchange, interest rate and index instruments, transferable securities (including shares), and futures contracts on behalf of another person
|plus per additional entity in group||£550|
Category 6 – Crowdfunders and peer-to-peer lenders
|Less than €10 million||£3,000|
|Equal to or greater than €10 million||£5,500|
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