The Best Interest Duty (BID) (Standard 2) and Broad Effects Obligations (Standard 6) require advisers to consider the client’s broader, long-term interests and likely future circumstances.

Given that nearly all clients will need aged care, it should be a core component of every retirement plan.

Under the Code of Ethics, advisers have a duty to actively enquire about their client’s circumstances and cannot be limited by just the information provided by clients.

Again, given that most clients will experience frailty and need aged care, it is best practice to actively raise frailty planning issues whenever discussing retirement.

Standard 5 stipulates that advice must be appropriate to the client’s circumstances, including the age and health of the client. Many advisers find aged care confusing; it can be tricky to explain the concepts and your advice recommendations clearly. Our membership packages provide everything you need to do just that.

Competence is a core value and imposes the need for advisers to have 'knowledge, skills and experience' in delivering advice (Standards 9 and 10).

This applies to specialist advice areas like aged care. You can demonstrate your competence by completing our Accredited Aged Care Professional™ program.

Diligence is another core value, and speaks to timeliness, efficiency, and cost-effectiveness.

Without specialist tools and support, it is challenging to deliver aged care advice in a timely, efficient, and cost-effective way. Our membership packages have been designed specifically to support you to meet these requirements.

The Explanatory Statement expressly states that any potential aged care need for the client or family member needs to be factored into advice.