Why aged care?
Like it or not, your clients are going to need aged care advice.
It’s not IF, it’s WHEN. In fact, research from Aware Super has found 94% of Australians aged 18 to 54 are very concerned about the cost of aged care. This includes costs for themselves, as well as for their parents. That’s why we believe every adviser should be knowledgeable about aged care advice. If you are still not convinced, there are three great reasons to incorporate aged care advice into your service offering:
1.The critical third phase.
No-one wants to talk about becoming frail.
But it’s going to be a reality for most clients. Starting the conversation early can make a big difference down the track. By breaking retirement into three distinct phases, you can help your clients understand and plan for their future.
Life post-retirement isn’t just holidays and grandkids. If you don’t 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.
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, taking into consideration how their needs and expenditure will change in each of the three phases. Help clients with their Later Life Planning TM.
2. Growing demand.
There are now more than half a million Australians who are aged 85 and over. It’s a big cohort, and they need expert financial advice. Aged care is complicated, and great advice can make a big difference.
Don’t wait around for a client crisis – not only does every client need to consider aged care in their retirement planning, but it’s highly likely that your clients’ parents already need aged care advice.
3. Meeting the Code of Ethics.
The introduction of the Code of Ethics standards has caused stress and uncertainty. But at its core, it’s about building a stronger advice profession that puts client interests first. Given the high likelihood that your clients will experience frailty, aged care planning can’t be ignored.
Build your business.
Become a member to access our industry leading online resources. Membership to Aged Care Steps helps you provide expert aged care advice quickly and efficiently, so you don’t have to do it alone.
Your clients need your help now.
94%. The figure speaks for itself, and advisers can no longer ignore it. Your clients are not thinking aged care is something they need to worry about in the future. They are worried about it now.
Is your advice business ready today to help your clients navigate these fears and concerns?
With various support models to suit how your advice business operates, we can help you and your team provide your clients with the expert aged care advice they need without delay.