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Professional advice welcomed to help plan for care costs

30 September 2019

The majority of over-45s would welcome a referral to an adviser to help them make financial plans to meet the rising cost of care for themselves or family, new research from Just Group found.

According to Just Group’s Care Report 2019, 37% of those surveyed said they would be grateful for a referral and would arrange to meet in person, while 14% said they liaise by email or online. A further 11% said they would speak to an adviser over the phone, while 12% said they would contact their own adviser.

Only a quarter of respondents (26%) said they would not make any contact.

Stephen Lowe, group communications director, Just Group, said: “When people are faced with a major financial decision, the evidence is that most of them would welcome professional support.”

According to Lowe, two-thirds (67%) of over-45s who had personal experience of finding long-term care for an elderly relative or friend said it was difficult to find the right information and eight out of 10 (79%) admitted they found the care system complex.

Lowe added: “With the number of people needing to pay for care either at home or in a residential home set to rise, there’s a real need for adviser firms to help people through a difficult and complex system.”

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