I am a financial planner and work as an authorised representative for a licensee. I have over 70 regular clients who pay fees for my service. Their fees are paid to the Licensee, the Licensee deducts a commission and the remainder (above 90%) is paid to my business. My income is PSI, however I believe I pass the PSB rules (including the results test and the 'special rule for agents' which allows agents to treat the clients of a principal as their own clients for the purposes of passing the 80% rule).
Am I correct in classifying my business as PSB?
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