Where to get independent financial advice
If you have savings, property or a payment you want to invest it is sensible to get independent financial advice.
When you choose a financial adviser, you should find out if they are qualified and accredited to give you advice. More information about where to find financial advisors and lawyers is shown below.
All IFA's should be registered with the Financial Conduct Authority (FCA) – the FCA regulate the financial services industry in the UK.
The adviser must explain to you how much their advice will cost and should set out charges in a clear way ensuring you understand how much you are paying and what for. There may be extra charges for looking after your investments or providing advice on a regular basis. If you are getting investment advice, ask your adviser if the costs include a review of your investments from time to time or if you must pay for that service separately.
Unbiased provides information on where you can find regulated and independent financial advisers.
Society of Later Life Advisers (SOLLA) specialise in the financial needs of older people. Independently accredited advisers can offer added reassurance that they offer sound practical help and guidance:
- You can access both general information about paying for care and information about accredited financial advisers in your area through SOLLA
- Website links to SOLLA accredited advisers in your area who can offer a range of financial solutions and practical help and guidance with selecting the most suitable option. They can advise on;
- Equity Release, Long term care funding, Pensions and annuities, Investments and savings, Tax Planning (Inheritance tax)
Paying for Care is a not-for-profit information portal for those seeking advice and guidance on the cost of elderly care. It covers:
- Types of care and costs
- Help with determining if you must self-fund your care and payment options
- Help determining if you are eligible to receive funding for your care
- General background information on paying for care, including tools such as the care fees calculator
Solicitors for the elderly is a national organisation of lawyers, such as solicitors, barristers, and legal executives who provide specialist legal advice for older and vulnerable people, their families and carers. The main areas of law they cover are:
- Paying for care, NHS continuing care funding
- Making a will, living wills, wills disputes, probate
- Powers of attorney, court of protection, elder abuse
- Tax planning, asset preservation, trusts
Age UK money matters offer advice and support on a range of topics including benefits and entitlements, debt and savings and pensions, as well as a range of financial products and services for the over 50s.
The Money Advice service set up by the government has lots of useful information to help you manage your money, they can provide support in person, over the phone and online.
Carers UK support carers with benefit checks and give advice on financial and practical matters related to caring.
Citizens Advice Bureau has a Getting financial advice section.
Disability Rights UK run independent help lines.
FirstStop Advice is an independent, impartial and free service providing information on paying for care, benefits and other financial help.
Independent Age provide an advice and information service offering expert personalised support by phone and email to older people and their families.
UK Care Guide has produced a handy graphic, which provides information on 12 ways you can fund your care costs, along with a calculator to estimate the cost of paying for home care or a care home.