All advisers listed on the website directory have achieved the Later Life Adviser Accreditation, through which they must demonstrate a good understanding of the specific needs of older clients, and good interpersonal skills, such as how they might explain a complex issue to an older client. This helps us to ensure that all SOLLA advisers will be suitable to help those looking at later life financial issues, both in regards to knowledge and communication.

Independent or Restricted

There are two types of financial advisers, independent and restricted:

  • Independent financial advisers can offer advice on the entire range of financial products and providers, and are not resticted or limited in which products or providers they recommend.
  • Restricted financial advisers can only recommend certain products or providers. This may be because they only work with certain providers and therefore can't consider all products, or it might be that they have decided to focus or specialise in a particular financial area, and therefore can recommend anything from within that area, but don't work across all the market, and therefore cannot describe themselves as independent.

Areas of Advice

An accredited financial adviser will be able to help you in all areas of later life finacial matters, including retirement planning, care funding (both care homes and care in your own home), equity release and other property options, saving and investment planning, tax matters, and estate and wealth planning. They will be able to give you advice about specific options available to you, and give you recommendations based on your personal circumstances, and what products best suit your needs.

Cost

Most will offer an initial consultation at no cost to you and without obligation.

Financial advisers, like all professionals, charge for their time. They will let you have their terms of business and explain what services they will be offering you. Make sure you understand what is being offered and what it will cost you before you proceed. Read more about paying for advice.

Complaints

All advisers listed in the website directory have complaint procedures in place as part of their regulatory requirements and are all regulated by the financial watchdog the Financial Conduct Authority (FCA).

As part of their commitment to being a Later Life Adviser they must adhere to the SOLLA code of practice and disclose any upheld complaints when they join the society, and when they relicense each year.

SOLLA links those who need advice to an accredited Later Life adviser who can advise on:

  • Retirement Planning (pensions/annuities)
  • Funding for Care Home fees
  • Funding for care in your own home
  • Equity release and other property options
  • Savings and investment planning
  • Tax matters, estate and wealth planning