Top 4 aged care myths

Aged care is a new advice area for many advice professionals – and is largely misunderstood. This can create barriers to getting started.

But many of the pre-conceived perceptions are nothing more than myths. Let’s uncover the reality behind the top four aged care myths.

The mythThe reality
Target clients are aged 80 plusIt is true that this age group is the highest user of aged care services. But when a crisis hits, it is usually the children (or grandchildren) who need advice and help to make decisions on behalf of their parents. So clients in the 40-65 age group are also a big target client base. If this is your client base, you need to offer a solution to retain clients.
Aged care advice is complex and hard to learnIt is a new area and like all advice, involves lots of complexity. So it will take a while to become proficient. However, Aged Care Steps has training and support to get you started and help you along the way – with simple steps to follow that make the process logical for you.
Aged care advice is a one-off transactional serviceAged care advice is about building client relationships. Ongoing reviews of strategies, cash flow and performance are valued by aged care clients. Intergenerational wealth transfer is also a key service.
Advisers can’t make money from aged care adviceEven a modest level of activity can translate into significant revenue. Aged care advice services enable advisers to protect and grow their clients and add additional value to clients.

Read the article “Top 3 challenges of aged care advice“.