Aged care advice is the ‘new kid on the block’ for advice professionals and is often misunderstood. Many of the perceived business barriers are ill-conceived. Let’s uncover the reality behind the top four aged care advice myths.
|The myth||The reality|
|Target clients are age 80 plus||It is true that this age group is the main user of aged care services. But when a crisis hits, it is usually the adult 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 significant target audience. If this is your client base, you need to offer a solution to retain clients.|
|Aged care advice is complex and hard to learn||It is a new area of advice for many and – like all advice – involves certain complexities. So it will take a while to become proficient. Aged Care Steps has the training and support to get you started and help you along the way – with simple steps that make the process logical.|
|Aged care advice is a one-off transaction||Aged 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, so a client’s family can become your clients too.|
|Advisers can’t make money from aged care advice||Even 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“.