As you get older it's important to think about planning for later life, including any care and support you may need and how you may have to pay for this.
You may also be currently paying for your care and would benefit from information on how to make your money work.
Why should I get independent financial advice?
It's really important to get independent financial advice so that you can make balanced and reasoned decisions.
- Independent financial advisers can advise on how you can make your money work best for you to help cover any long term care costs.
- It can be difficult making life changing decisions by yourself, so with the support and input of an independent advisor, you will be better placed to make a balanced and informed decision.
- One of the advantages of getting advice from an independent financial adviser who has specialist knowledge is that they are able to assess your specific circumstance in full and can make sure you are claiming all the benefits and allowances you are entitled to.
Is there a charge for getting independent financial advice?
- Many independent financial advisers do charge either a fee or commission, so it's important you ask them when you first speak to them so you are clear about any charges.
- Many advisers do offer an initial free consultation - once again, it's important you ask them at the beginning so you are clear about any fees or charges there may be.
How can I find a financial advisor?
- The Society of Later Life Advisers (SOLLA) helps people to find independent financial advisers who specialise in financial planning for later life.
- All advisers on the database have to prove that they meet appropriate criteria and have the right qualifications before they are accredited by SOLLA.
- Find a SOLLA registered adviser
Other support, advice and information
The London Borough of Croydon cannot recommend any particular adviser or advice service and it is important that you satisfy yourself that an adviser is properly qualified to give advice. We cannot guarantee the quality of the services provided; you may wish to compare several or get a recommendation from someone you know.
Paying for Care Service
Paying for Care is a website that offers advice on care costs and planning for care. They also enable you to search for local care fees advisers.
The Money Advice Service
The Money Advice Service was set up by the Government, and offers impartial and unbiased money advice and information to help you make the most of your money, whatever your circumstances.
Age UK London
Age UK London is a regional charity working closely with local Age UKs and Age Concerns in each of the London boroughs and the national organisation Age UK. Older Londoners are encouraged to contact their local Age UK to find out if they or someone they know is eligible for Pension Credit or other financial help.
My Care, My Home
My Care, My Home is an organisation that provides support and guidance to people who fund their own care. The initial assessment, information and advice is free. However, other chargeable services are provided but these are explained at the start. They can offer telephone advice or do home visits.
Contact them on 0800 731 8470 or visit the My Care My Home website.
Money Made Clear
The Money Made Clear service provided by the Consumer Financial Education Body (CEFB) offers impartial guidance about your money to help you work out what is right for you.
The CEFB is an independent body that offers a wealth of information and interactive tools to help people make informed decisions about money.
CarePlace Directory is London's centralised source for care and community services and information.
The directory contains thousands of services in London and gives you direct access to them. It also contains a wealth of information and guidance on how to source local services and pay for them.