Claire Wivell Plater

On Practice

Write well to articulate value and fees

Financial planners who find themselves in trouble with clients and the law typically can’t write properly and don’t have a formal client engagement process, which inevitably means they’re unclear about the services they provide and how much they charge, according to Claire Wivell Plater, managing director of The Fold. She said many advisers spent too […]
On Practice

Buzz in recruitment but legacy books face sting

Licensees are reporting vastly different recruitment experiences in the first month of the Future of Financial Advice reforms with some recording high levels of query from advisers looking to switch while others claim it is now harder than ever to move. Last week, Futuro managing director Dennis Bashford said the dealer group was experiencing a […]

“We love our grandfathers, but eventually they all die”

While the industry has won some concessions on grandfathering within the Future of Financial Advice (FoFA) reforms, lawyers warn that licensees who rely too heavily on the grandfathering clauses will have to monitor multiple revenue sources. The industry has belatedly been given some more time to comply in what has been a contentious aspect of […]
On Practice

New brooms sweep clean on fee disclosure

Advisers who already have ongoing fee arrangements in place may need to start sending fee disclosure statements from the beginning of the 2013/2014 financial year. This is the view of Claire Wivell Plater, managing director of The Fold Legal, who adds that advisers will not only have to have fee disclosure statements that set out […]

FPA, AFA diverge over codes as questions remain

The industry has generally welcomed the release of the Australian Securities and Investment Commission’s (ASIC) regulatory guidance on codes of conduct, although the opt-in exemption continues to be controversial. What is clear is that the Financial Planning Association (FPA) and Association of Financial Advisers (AFA) will respond very differently to the ASIC direction. Initial reaction […]