Independent financial advice about paying for care

It is sensible if you have savings, property or a payment you want to invest 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.

Paying for Care

Paying for Care is a not-for-profit company for those seeking advice and guidance on the cost of elderly care.  

Independent financial advisors (IFA)

All IFA's should be registered with Financial Conduct Authority (FCA) who regulate the financial services industry in the UK. 

The advisor 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're 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

Unbiased provides an on-line search facility for you to find advisors. 

Later Life Advisers (SOLLA)

Later Life Advisers 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 the 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)

Solicitors for the elderly

This 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

The website helps you search for a solicitor in your area to see if they specialise in the particular area of law that you are interested in.

There are a number of useful websites which can help you with a range of information  and advice on financial matters.

Age UK

Offers a range of financial products and services for the over-50s, including the Age UK Equity Release Advice Service. Telephone: 0800 023 2814.

Carers UK

Support carers with benefit checks and give advice on financial and practical matters.

Independent Age

Provides a personalised advice and information service by phone and e-mail to older people and their families. They also provide a range of free publications and detailed information guides.

First Stop Advice

Impartial and free service for older people, their families and carers. It aims to help people get the help or care they need to live independently. The website also provides details of local SOLLA advisors. More information about SOLLA can be found below.

Money Advice Service

  The website has lots of useful information to help you manage your money.

  • Free and impartial money advice, set up by government.
  • Advice and guides to help improve your finances
  • Tools and calculators to help you keep track and plan ahead
  • Support in person, over the phone and online

The Citizens Advice Bureau

The Citizens Advice Bureau has a Getting financial advice section