Independent financial advice

As you get older it's important to think about planning for later life, including any care and support you may need and how you may have to pay for this. You may already be paying for your care and would benefit from information on how to make your money work harder.

Advantages of using an Independent Financial Adviser

Independent Financial Advisers have specialist knowledge and are there to help and advise you on a range of financial matters. Here are just a few advantages of using an Independent Financial Adviser:

• They are able to explain how you can make your money work best for you to help cover any long term care costs. 
• Life changing decisions can seem daunting to make, especially by yourself. Independent Financial Advisers offer both support and input, allowing you to be better placed to make a balanced and informed decision.
• Independent Financial Advisers are able to assess your specific circumstance in full and can make sure you are claiming all the benefits and allowances you are entitled to.
• A financial adviser that is 'independent' is also able to advise on financial products from any provider right across the market. This means you should expect to receive the best advice and products to meet your circumstances and needs.

Receiving independent financial advice and fees

Often, advisers offer an initial free consultation. However, many will charge a fee or commission for subsequent consultation.  It is important you are clear from the outset about any charges you are likely to pay.

If you are approaching retirement and wish to see a financial adviser, the Money Advice Service suggest speaking to a few to compare the services they offer and finding out what is best for you. The Money Advice Service provide some key questions you could ask a financial adviser.

Where to find an Independent Financial Adviser

Society of Later Life Advisers (SOLLA) helps people to find Independent Financial Advisers who specialise in financial planning for later life.  All advisers on the database have to prove that they meet appropriate criteria and have the right qualifications before they are accredited by SOLLA.  You can find a SOLLA registered adviser near you.

The London Borough of Camden cannot recommend any particular adviser or advice service and it is important that you satisfy yourself that an adviser is properly qualified to give advice. We cannot guarantee the quality of the services provided; you may wish to compare several or get a recommendation from someone you know. For free independent legal advice contact the Camden Community Law Centre.