Like it or not, your clients are going to need aged care advice.
It’s not IF, it’s WHEN. That’s why we believe every adviser should be knowledgeable about aged care advice. If you are still not convinced, there are three great reasons to incorporate aged care advice into your service offering:
1. The critical third phase.
No-one wants to talk about becoming frail.
But it’s going to be a reality for most clients. Starting the conversation early can make a big difference down the track. By breaking retirement into three distinct phases, you can help your clients understand and plan for their future.
Life post-retirement isn’t just holidays and grandkids. If you don’t plan for the frailty years (and of course, aged care), you risk leaving your clients vulnerable and in the unfortunate position of being without adequate means to fund care.
By breaking retirement into three distinct phases (the active years, the quiet years and the frailty years), you can help your clients understand and plan for their future, taking into consideration how their needs and expenditure will change in each of the three phases. Help clients with their Later Life Planning TM.
2. Growing demand.
There are now more than half a million Australians who are aged 85 and over. It’s a big cohort, and they need expert financial advice. Aged care is complicated, and great advice can make a big difference.
Don’t wait around for a client crisis – not only does every client need to consider aged care in their retirement planning, but it’s highly likely that your clients’ parents already need aged care advice.
3. Meeting the Code of Ethics.
The introduction of the Code of Ethics standards has caused stress and uncertainty. But at its core, it’s about building a stronger advice profession that puts client interests first. Given the high likelihood that your clients will experience frailty, aged care planning can’t be ignored.
