Having been developed over a number of years, the Later Life Adviser Accreditation (LLAA) has now become established as the Gold Standard those advising in the later life market. In addition to being a stand-alone award, it is also the basis of membership of the Society of Later Life Advisers (SOLLA).
Professional qualifications, whilst essential, are unlikely to give the full picture of an adviser’s expertise. Those advisers who take the further step to become independently accredited come with the added reassurance that they offer the practical help and guidance needed to make the right decisions at the right time.
The LLAA is made up of four standards, and all must be achieved to become accredited.
The LLAA is not an examination; it evidences eligibility from an online application submission that meets the first three standards, through to a VIVA assessment and a final accreditation panel decision.
Why become accredited?
Achieving the LLAA and becoming a member of SOLLA is an endorsement of your skills and experience of working with, and understanding the needs of, older people and their families and carers. The LLAA gives you independent recognition of your knowledge and advice skills, whilst helping older consumers and their families appreciate you are an adviser who can help them. As an accredited SOLLA member your details will be listed on the SOLLA Find an Adviser search facility.
SOLLA provides later life training and support to all members along with logos for use in communication and promotional materials/platforms.
The LLAA is awarded to the individual adviser rather than their firm so, subject to specific conditions, the LLAA is transferable if you change firm.
The SOLLA Later Life Adviser Accreditation provides credits towards the Adv DipFA which can lead to a Chartered Designation awarded by The London Institute of Banking & Finance. For more details see here.
LLAA Process
- Registration and Associate membership*
- Attend the Introduction to the LLAA training session/webinar
- LLAA application & Booking an assessment date
- LLAA Assessment
- LLAA Review
- LLAA Results
- Accredited SOLLA membership
- Annual relicensing
- Re-accreditation after 5 years
*We recommend joining as an Associate member. This provides access to SOLLA’s later life resources and training free of charge all of which are recommended preparation for the LLAA. The Associate Member fee can be deducted from your LLAA fee when you book your assessment. Please see our Associate Member Learning & Development Programme for more detail.
Read more details about the LLAA process.
Minimum entry requirements
Associate membership
- Confirmation of SPS and Competency sign off status
- Details of any financial, long-term care and equity release qualifications that you hold or are working towards
Later Life Adviser Accreditation (LLAA)
- Be qualified and assessed as competent under the FCA rules to give financial advice
- Hold a current Statement of Professional Standing (SPS)
- Hold an appropriate (Level 4) financial planning qualification
- Hold an appropriate equity release qualification
- Hold an appropriate long term care qualification
- Be signed off as competent under your employer’s T&C scheme
SOLLA membership
- Successful completion of the LLAA
- Evidence your firm’s Older/Vulnerable client policy
- Detail any upheld complaints in the last 3 years
- Independent or Restricted whole of market adviser
Costs
| Membership and LLAA |
Fee |
Associate Membership
(can be paid annually or monthly)
|
£250 per year or
£21 per month |
LLAA fee (non Associate Members)
(can be paid as one off payment or spread
across three Direct Debit payments) |
£900 |
LLAA (Associate Members)
(can be paid as one off payment or spread
across three Direct Debit payments) |
£650 |
SOLLA Membership
(can be paid annually or monthly)
|
£294 per year or
£24.50 per month |
Five year re-accreditation
(can be paid as one off payment or spread
across three Direct Debit payments) |
£650 |
FAQ
Click here to read our Accreditation FAQ.
Contact us
If you have any queries about Membership or the Accreditation, do get in touch. You can call us on 0333 2020 454 or email us:
Membership Queries: Sheila McManus, Membership Coordinator
Accreditation Queries: Cindy Sudbury, Accreditation Manager
Apply for Associate Membership