Financial Information and Advice
When to contact a financial adviser?
Unlike NHS health care, most people will have to pay something towards the cost of any care and support they need. If you have assets (property, shares, savings etc) or substantial income, you are likely to have to pay most or all of the costs.
Decisions about care and support often have to be taken when there is a crisis and if you haven’t planned for the costs, this can make the situation more difficult.
Seeking financial advice about care and support well before you need it can help you make the right choices for you. You may want to seek advice from more than one source to assist you with making the right decisions.
The Care Act 2014 suggests that you should seek advice from an Independent and Regulated Financial Advisor.
If you are unsure about financial information or advice, or the questions that you might want to ask, the government funded Money Advice Service offers free, impartial advice.
The Society of Later Life Advisers (SOLLA) aims to assist consumers and their families in finding trusted accredited financial advisers who understand financial needs in later life.
Some sources of information:
Independent Financial Advisers (IFA) are not connected to any organisation and can advise you about all the different financial products available. Some financial advisors may be tied to a particular organisation and will only be able to give advice on certain products. It is important that you check.
Regulated Financial Advisors should be authorised and regulated by the Financial Conduct Authority (FCA).
All financial advisors should tell you how much they will charge and what they can advise on.
The following are links you may find useful to assist with finding the right financial advice for you.
www.moneyadviceservice.org.uk/en The Government funded money advice service.
https://www.citizensadvice.org.uk/benefits/ The Citizens Advice Bureau.
http://societyoflaterlifeadvisers.co.uk/ The Society of Later Life Advisors (SOLLA)
https://www.unbiased.co.uk/ A financial advisor search option.
http://www.thepfs.org/yourmoney The Personal Finance society.
http://www.fca.org.uk/ The Financial Conduct Authority.
https://www.ageuk.org.uk/bury/our-services/information-and-advice/ Age UK Bury
Other sources of financial advice may include;
· Which.co.uk
· Ageuk.org.uk
· saga
Disclaimer
Bury Council has supplied details of some organisations that provide independent financial information and advice for your information only and in good faith. The information is not exhaustive and there are other financial advisers available who can provide you with independent financial advice and information.
The council has not vetted any of the financial advisers or organisations referred to in this information and their inclusion in the information does not imply any form of endorsement, recommendation, recognition or guarantee of the said organisation or financial advisers or any service they may provide.
The council will not be liable for any damages or losses, howsoever caused or suffered by any person in connection with any information and/or advice provided by any external organisation, financial adviser or provider of services.