Stephen Lowe: Care planning - the opportunities and challenges

Clients will increasingly have to fund costs of care themselves

clock • 6 min read

Effective care planning for clients must be central to the advice conversation alongside protection, pensions and estate planning, says Stephen Lowe, rather than left until the need is imminent or urgent

How do your clients feel about the prospects of paying for care in later life? People may not like thinking about losing their physical or mental faculties as they age. But with the adult social care system in turmoil from a six-year funding squeeze, planning for the possibility of paying for one's own - or a loved one's - care should be at the heart of financial planning. In a country with a rapidly ageing population, providing care services is a growth industry. There are more than 400,000 people living in residential care homes in England. A similar number depend on professional carer...

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