Follow below steps to create Licensee Referrer Split Fee Rule:-
1. Go to ‘Business Setup’ drop-down menu and click on ‘Licensee Referrer’ option.
2. Click on ‘Go to Action’ for already created Licensee Referrer i.e. ‘Licensee Referrer 1’
3. Click on Split Fees tab and click on ‘Add’ button.
4. Enter all the information correctly and select ‘Referrerd Client’ with Split Ratio as 40% and click on ‘Save’ button.
5. Here from the above screenshot you can see that Licensee retained income is zero as 100% is disbursed between the Adviser group and referrer
*From this article, we have concluded that if the rules are created for clients then default splits will not apply.