Advisers should broaden their business expertise to help clients plan more effectively for how long-term care fees will be paid, Partnership has said.
Data from annuity provider Partnership found just 7% of consumers over 45 would turn to their IFA for help on how to plan for long-term care. It showed charities such as the Citizen's Advice Bureau (46%) or local councils (44%) would be their first choice for such advice. Only 11% of the 1,023 consumers surveyed said that they would turn to solicitors for advice on long-term care, and only 7% mentioned that they would go to an IFA. Partnership care managing director Chris Horlick said advisers could play a key role in helping clients prepare for funding long term care. He explained...
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