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Later Life advice at Evans Falco

The majority of our clients are either close to retirement or already retired, so much of the advice we give is concerned with planning for retirement and beyond. Of course, the planning and advice required by a recently retired 50- or 60-something is often vastly different from the needs of an 85 year old who may be suffering from memory loss and / or other health issues whilst trying to navigate the complexities of inheritance or care fees planning.

Whilst all the advisers at the firm look after clients of all ages and types, Rosie has always had a special affinity with the needs of our more elderly clients, and decided to formalise this interest a few years ago by becoming a specialist later life adviser.

Already qualified to advise on Equity Release plans, and Long Term Care funding, Rosie undertook additional study and practical advice work to become accredited by the Society of Later Life Advisers (SOLLA), and was awarded this designation in July 2018. In addition, she has also passed the Society of Trust and Estate Practitioners’ (STEP) Certificate for Financial Services, Trusts and Estate Planning; and is a member of The Equity Release Council.

What does all that mean?  Here’s some more information on those three organisations

SOLLA was established in 2008 as 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. Why would anyone choose a financial adviser offering anything less?

The Equity Release Council represents the equity release sector and promote high standards of conduct and practice in the provision of equity release which have consumer safeguards at its heart.

These standards and safeguards have allowed the sector to grow, giving  financial advisers and their customers confidence in the products, dispelling myths  about equity release, and educating the public about the potential to access the wealth in their home for a variety of uses.

If you are thinking of taking out an equity release plan then you need to find out as much as you can about your options and weigh up the advantages and disadvantages fully before you decide if equity release is right for you. A fully qualified financial adviser should help you to understand the steps involved and talk you through your options, the effects this might have on state benefits and tax and your obligations. And of course they can also explain the full benefits of equity release. Done correctly, equity release should have no impact on an individual’s tax position or their state benefits; however each individual’s circumstances need to be assessed.

STEP is a global professional body, comprising lawyers, accountants, trustees and other practitioners that help families plan for their futures. Their mission is to inspire confidence in families planning their assets across generations by setting and upholding high professional standards, informing public policy, promoting education, and connecting practitioners globally to share knowledge and best practice.