You should consider independent financial advice, for example, if you are:
- planning for retirement
- planning how to pay for future care needs
How to find a financial advisor
When looking for a financial advisor, you should find out if they are qualified and accredited. All independent financial advisors should be registered with the Financial Conduct Authority (FCA) which regulates the financial services industry in the UK.
The Society of Later Life Advisers can also help you find an advisor to help you make financial plans for care in your old age.
Cost of financial advice
The financial advisor must explain to you how much their advice will cost and set out charges in a clear way, ensuring you understand how much you are paying and what you are paying 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 advisor if the costs include a review of your investments from time to time or if you must pay for that service separately.
Further information and advice
You can find more information and advice about planning for retirement and the cost of care.
The Money Advice Service offers information on paying for care or the option to speak to an online adviser.
Which? Elderly Care has a guide to financing care.
Independent Age can provide a personalised advice and information service to you and your family. They also provide a range of free publications and detailed information guides on care and support, money, benefits, health and mobility.