Close Brothers Asset Management (CBAM) has created a team of specialist financial advisers to assist clients with planning for long term care (LTC).
The team will be made up of nine advisers, all of whom are internal appointments with a minimum of Level 4 and CF8 accreditation. All members will be working towards achieving their Later Life Adviser Accreditation where necessary.
The service is a response to the increase in life expectancy and increasing care costs.
CBAM head of regional advice Patrick Haines said: "Following the government's announcement that it will implement a new funding model for adult social care, the £72,000 cap on care costs has received a great deal of news coverage.
"While this is certainly a step forward, there's also a risk that the headline figures will create confusion. Helping clients understand the real cost of care and how to plan for it remains a key, and growing, role for advisers, especially with the reforms introducing more, rather than less, complexity.
"The complexities surrounding the funding of long-term care mean that financial advice is essential to enable consumers to understand and plan for the costs involved."
The team of advisers is available to CBAM clients nationwide and is also accessible via a telephone support service.
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