FINANCIAL ADVISERS AT HOME VISITS

HOME VISITING FINANCIAL ADVISERS

Financial Advisers Home Visits CARE FEES

Financial Advice At Home EQUITY RELEASE


If you are getting advice about investing your money, you need to know there are two different types of financial advisers – ‘independent’ and ‘restricted’ – and this can affect the advice you are given.

Some advisers can offer the full range of financial products and providers available, and are called ‘independent advisers’. But many advisers have chosen to offer ‘restricted advice’ and will focus on a limited selection of products and/or providers.

All financial advisers have to be approved or authorised by FCA (Financial Conduct Authority). Both independent and restricted advisers must pass the same qualifications and meet the same requirements to ensure they are providing suitable advice.

An adviser or firm has to tell you in writing whether they offer independent or restricted advice, but if you are not sure which they offer you should ask for more information.

Independent advisers

An adviser or firm that provides independent advice is able to consider and recommend all types of retail investment products that could meet your needs and objectives.

Independent advisers will also consider products from all firms across the market, and have to give unbiased and unrestricted advice.

An independent adviser may also be called an 'independent financial adviser' or 'IFA'.

Restricted advisers

A restricted adviser or firm can only recommend certain products, product providers, or both.

The adviser or firm has to clearly explain the nature of the restriction. If you are not sure you should ask for further information, but some examples of restricted advice are where:

  • The adviser works with one product provider and only considers products that company offers.
  • The adviser considers products from several – but not all – product providers.
  • The adviser can recommend one or some types of products, but not all retail investment products.
  • The adviser has chosen to focus on a particular market, such as pensions, and considers products from all providers within that market.

Restricted advisers and firms cannot describe the advice they offer as 'independent'.

Key Areas of Financial Planning covered by Financial Advisers include:

  • Investment Planning
  • Protection Planning
  • Tax and Estate Planning
  • Corporate Financial Planning
  • Long Term Care Planning

There are a number of Financial Advisers that specialise in Long Term Care and Equity Release Plans

Later Life Planning -- Long Term Care

With people living longer, many of whom own properties and more and more people requiring long term care in their later years, many more people are finding it necessary to rearrange their financial affairs and live in uncertainty when they could really do with peace of mind and security.

For those who are assessed as requiring to pay for their own care, or are responsible for overseeing paying for someone else’s care, the main concern will be not be so much the actual weekly cost, but how long care will be required for and therefore will the available money last? Ultimately the main question will be how best to pay for this care to ensure both continuity of care and to try and preserve as much capital as possible.

There are basically two main choices:

  1. To invest capital to try and produce the required extra income to meet the shortfall in income v cost of care in an endeavor to try and preserve as much capital as possible.
  2. To take out an Immediate Needs Care Annuity to ensure the shortfall is guaranteed to be met for the rest of the person’s lifetime. This is also sometimes referred to as the insurance approach. 

Which way is best will in turn depend on, among other things:

  1. Your attitude to investment risk.
  2. Your own view as to how long care will in actual fact be required for.
  3. Your preference for simplicity – an investment approach will need regular reviewing and decisions to be made to ensure how best to preserve capital – whereas an annuity or Long term care Insurance if set up right should continue to meet the costs of care for the rest of their lives without much involvement.
  4. Whether or not continuity of care is more important than trying to preserve as much capital as possible.

It is very important to use the services of a financial adviser who has taken the appropriate examinations and is fully qualified to discuss care fees advice and long term care with you and your family and essentially enable you to preserve your capital

For more information on home visiting financial advisers please call 07900 224 961.

Equity Release Schemes

If you are a home owner over 55 years of age and you would like a little more money available – for your family, for home adaption or improvements, for holidays, for income to provide care in your home, or simply to pay off a mortgage or some debts, then Equity Release could be the solution for you.

Most retirees find themselves equity rich, but cash poor. It seems a shame for you to struggle through your later years when you have so much value tied up in your property. Equity Release is simply a way of unlocking that money without having to move.

You can obtain a lump sum, or regular amounts, according to what you need. You do not have to make any monthly payments – the sum is simply deducted from your estate. And very importantly for most retirees, Equity Release gives you more income without you having to leave your family home.

There are several different types of plans available – Lifetime Mortgages, Drawdown Plans and Home Reversion Plans – which is why it is important to seek independent professional advice, in order to identify the right plan for you.

All our Financial Advisers will carry out a Home Visit or Office Visit where appropriate

Please Telephone 07900 224 961 for more information  

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