Care fees specialist proffers service to financial advisers

Posted on March 1st, by editor in Caring Times. No Comments

Symponia, a national affinity group for care fees planning and financial advice for people over 65, has launched an initiative designed to help bridge the gap in qualified advisers able to service the care market. In an arrangement similar to that used in the medical profession, Symponia is asking non-specialist advisers to team up with their local Symponia member and become a professional partner. Symponia’s chairman Jeremy Davies said long term care had long been neglected by financial services as it was often complicated, required a truly sensitive approach and could be a very daunting prospect for inexperienced advisers. Less than three per cent of FSA authorised advisers have obtained CF8, the qualification required by the FSA for long term care financial planners. “Regulation in 2004 helped to clarify the situation, but the fact that so few advisers now hold the qualification proves that it is an area not yet embraced by the adviser community,” said Mr Davies. “This isn’t necessarily an area f

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