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Independent financial advice

It’s important to make sure your money goes as far as possible and allows you to plan and make choices for your care and support in the future. 

There are different organisations and services that can give you general financial advice, including local and national charities if you have savings, property, investments and other assets. 

Who would benefit from this advice? 

Those who might benefit from independent financial advice include: 

  • anyone who needs a small amount of money to fund care at home or to pay for adaptations or extensions to their home 
  • anyone with an immediate need for long-term residential or nursing home care 
  • anyone already staying in a care home and paying for it from their own income or savings 
  • anyone acting as an attorney and looking after the financial affairs of someone in any of the above circumstances 
  • anyone planning ahead for any of the above situations 

What to consider?  

If you are considering taking regulated financial advice it is recommended that you select an adviser regulated by the Financial Conduct Authority with the appropriate qualifications and accreditation. 

Some financial advisers can provide advice on general financial management, like savings and pensions. Other advisers specialise in financial management relating to care and support needs, including paying for care. 

You should make sure any service you are considering is right for you and your circumstances.  

When choosing an adviser, you will want to be sure: 

  • they are qualified and experienced in the type of advice you need 
  • what the cost is and what’s included in the cost 
  • that you fully understand the terms of any agreement with the adviser 

MoneyHelper and Unbiased provide helpful advice on things like: 

  • choosing a financial adviser 
  • questions to ask a financial adviser 
  • how much a financial adviser costs 

Finding an independent financial adviser 

There are professional independent financial advisers that are regulated by the Financial Conduct Authority (FCA), the official regulator of financial services in the UK. The FCA keeps a list of these advisers.  

Vouchedfor helps find independent professional advisers including financial advisers.  

Society of Later Life Advisers aims to assist consumers and their families to find trusted and accredited financial advisers, who understand financial needs in later life.  

Charities and other organisations who can help 

Age UK is the charity dedicated to helping everyone make the most of later life. 

Citizens Advice Bureau helps people resolve their legal, money and other problems by providing free, independent and confidential advice. 

Independent Age is a charity that offers advice, befriending and also campaigns on older people’s issues. 

Which? Elderly care offers free, independent and practical advice about caring for older people across the UK. 

Paying for Care is a not-for-profit company offering advice and guidance on the cost of elderly care.