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While advisers have a duty of care to ensure all clients fully understand the effects of their financial decisions this is especially true when it comes to dealing with older clients. Janet Davies discusses some of the issues advisers need to bear in mind

This year saw changes to how mental capacity is viewed and treated with the introduction of the Mental Capacity Act 2005. The main changes affecting the financial services community centre on the introduction of Lasting Powers of Attorney (in England & Wales), which have now replaced the previous Enduring Power of Attorney (although documents written before 1 October remain valid). Up until the 30 September, individuals acting as donors could nominate attorneys to act on their behalf, either for a specific time and/or event using a "power of attorney" or for the rest of their lives, up to...

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