The need for advisers to provide aged care advice is inevitable.

What is aged care advice?

Increasing life expectancies and improvements in medical technology mean the likelihood that your clients will need aged care advice is almost inevitable. Add to this, the fact that other family members are often involved with seeking aged care advice and help.

When an aged care need arises, it can be a time filled with feelings of guilt and fear and comes with a sense of urgency. If clients are unprepared for the transition, this may lead to angst, family conflict and poor decision-making.

Financial planners and other advice professionals have a responsibility to proactively raise issues with their clients and be ready to provide aged care advice when the need arises. Effective planning and good advice gives clients more choices and greater control.

Aged care advice also provides opportunities to grow your advice business.

 

Are you looking for aged care advice?

If you are consumer looking for quality aged care advice to help with your decisions, please visit Find An Adviser to find an Accredited Aged Care Professional near you.

What does aged care advice include?

There are a wide range of reasons why clients need help to navigate aged care decisions. Your aged care advice might:

  • Help your client and their family to understand the range of care options and how the aged care system works

  • Outline the steps ahead to help clients find and access the right type of care

  • Provide an understanding of how the various options impact finances

  • Explain the myriad of jargon and new terminology that they are now confronted with

  • Provide solutions that meet retirement or care objectives and needs

  • Provide strategies to improve cash flow, and much more.

Preparing for aged care for themselves or a loved one can be a difficult and stressful task, but with the help of an Aged Care Steps (ACS) Accredited Aged Care Professional, clients don’t have to face it alone.

Why is aged care advice good for your business?

Life post-retirement isn’t just holidays and grandkids. If you don’t help your clients plan for the frailty years (and, of course, aged care), you risk leaving your clients vulnerable and in the unfortunate position of being without adequate means to fund care.

  • Three distinct phases

    By breaking retirement into three distinct phases (the active years, the quiet years and the frailty years), you can help your clients understand and plan for their future, considering how their needs and expenditure will change in each of the three phases.

    You can read more about these three phases and their importance here.

  • First point of contact

    When clients are looking for help during those crucial stages, who will they talk to?

    Don’t risk losing your clients just because you didn’t have an aged care advice solution for your business.

  • Be business ready

    Being business ready to provide high-quality aged care advice to your clients offers further growth opportunities for your advice business.

    You’ve built a long-term relationship with your clients, and you want to ensure you can continue to provide them with the advice they need as they transition to a different life stage.

How do you provide the right aged care advice?

You can partner with Aged Care Steps to access the support you need to become business ready. We support advisers (and other advice professionals) across every aspect – from marketing, aged care strategy development and technical know-how to how to raise aged care in conversations with clients.

We help you to provide the right level of advice.

Membership to Aged Care Steps (ACS) provides you with a wide range of options to help you and your business. You might choose to be an outsourcer and let us provide the expert advice for you or bring the advice in-house to create additional revenue and client value. Or, if you find your passion, you might decide to be an expert and proactively bring in new clients.

You can learn more about the various business models here and hear from other advisers who’ve successfully incorporated aged care advice and ACS membership into their business.