Why being members of SOLLA matters
Posted on Feb 13, 2018
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Getting older brings many challenges and deciding whether it’s the right time to move into a care home is one of the most difficult decisions we’ll have to make – or, indeed, support a family member in making. Not only is it an emotional time – with worries about giving up independence and choosing the right home but it can also be very stressful regarding finance. How exactly do you go about paying for the care?
If you haven’t been involved with care home funding before it can seem very confusing and there will be lots of people out there wanting to offer advice - from well-meaning friends to adverts in the paper.
The best place to start looking for an adviser is to contact SOLLA – the Society of Later Life Advisers. Established in 2008, SOLLA is a not for profit organisation dedicated to ‘higher standards and accessibility to regulated financial advice for older people and their families’.
All SOLLA later life advisers specialise in the financial needs of older people. Professional qualifications, whilst essential, do not always give a full picture of an adviser’s experience or expertise. Those advisers who have taken the further step to become independently accredited can offer the added reassurance that they can give the practical help and guidance needed to help you make the right decisions at the right time.
All full members of the Society must achieve the Later Life Adviser Accreditation and adhere to a Code of Practice to ensure their clients know what to expect from their services. Accredited advisers can advise on:
· Retirement planning - pensions and annuities
· Funding for care home fees
· Funding for care in your own home
· Equity release and other property options
· Savings and investment planning
· Tax matters and estate and wealth planning
Here at The Goodman Partnership, we’re one of only four IFA firms in London and the South East to have two full SOLLA members, which underlines our commitment to provide quality advice to later life clients:
Neil Whitaker was awarded the Later Life Adviser Accreditation and became a full member of The Society of Later Life Advisers (SOLLA) in July 2010.
Andy Kirk was awarded the Later Life Adviser Accreditation and became a full member of SOLLA in December 2013.
“Andy and I specialise in the financial needs of older people,” says Neil Whitaker. “Accreditation from SOLLA provides added reassurance that our advice, practical help and guidance will help our clients to make the right decisions at the right time.”
Neil adds: “The complexities of the many decisions you or your family may need to face when looking at issues such as care funding matters or whether equity release is the right thing for you, need careful and considered advice. Financial advice should help you make clear and informed decisions knowing that you have had the information and choices presented to you in a way that helps you make the best choices and decisions for you or for a family member.”
More information about SOLLA can be found here: www.societyoflaterlifeadvisers.co.uk