The Compensation Scheme of Last Resort (CSLR) levy in the financial advice sector is expected to reach A$127m by 2027, surpassing the A$75.7m levy for 2026 and the previous A$20m cap set by ASIC. Adviser numbers have dropped from 26,500 in 2019 to 15,300 in July 2025, facing an average annual levy of A$8,300.

CPA Australia’s financial advice spokesperson Richard Webb criticized the levy hikes, stating it could drive more advisers out when Australians need them the most. He called the funding framework for the scheme “broken” and urged the government to review the levy structure to protect professionals and consumers.

CPA Australia, part of the Joint Associations Working Group, is advocating for improved access to financial advice. They also highlighted the need for policymakers to enhance Australia’s economic ties with Asia to maximize business opportunities for Australian companies in key markets.

Read more at Yahoo Finance: CPA Australia flags risks amid escalating CSLR levy