I’m often asked by potential clients when is the best time in life to start down the route of financial planning and there’s a reasonably straightforward answer to that – I simply say that starting too soon is always going to be better than starting too late. However, a lot of the other common questions that I’m asked are around the ‘outcomes’ of good financial planning and how these might work out for people in later life.
At Forward Plan IFA we have a long established background of dealing with clients of all ages and we believe that as an organisation we should be able to demonstrate our expertise for all stages of financial planning which is why I recently became a SOLLA Accredited Adviser.
SOLLA stands for the ‘Society of Later Life Advisers’ and the accreditation is focused on ensuring that advisers understand the complexities of later life financial matters and can work effectively for their clients and their family’s with warmth and compassion at what can be a challenging time in life.
A significant part of later life planning is trying to ensure that you do the right things at the right time. I sometimes look at it as the bridge in your financial plans when you move from the accumulation of assets, to using some of those assets that you’ve built up. This could be paying off your mortgage, buying an annuity or considering equity release but it could also be thinking about inheritance planning for your children or providing for future care arrangements.
As a later life planning specialist, I can also make sure that we put the processes and documentation in place so that decisions can be made without too many issues should you become ill or be unable to manage your finances effectively.
The SOLLA accreditation provides you with the confidence that as your financial planner I have the breadth of knowledge of financial products and processes to be able to make you aware of all the different options available to you.
Part of the accreditation assessment also includes assessing how I treat people, especially those that are elderly or may have disabilities so that I am able to provide trusted advice when they most need it in a way that it is easy for the client to understand.
I’ll be writing a few articles over the coming weeks looking at particular aspects of later life financial planning but you can find out more about the SOLLA Society on their website societyoflaterlifeadvisers.co.uk or why not give me a call for an informal discussion about how we may be able to help you with you later life financial planning needs.
For more information on the range of services that we offer at Forward Plan or to book your free no obligation consultation to improve your financial health please contact us through the websiteor call us on: 01303 76 76 50
This blog/article is for information only and must not be considered as financial advice. We always recommend that you seek independent financial advice before making any financial decisions.
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