We strongly recommend you get independent financial advice when planning for your long-term care and setting up the care and support you need.
All Independent Financial Advisors (IFAs) have to register with the Financial Conduct Authority (FCA), who regulate the financial services industry in the UK.
Advisors must explain to you how much their advice will cost and should set out charges in a clear way, so that you understand how much you are paying and what for. There may be extra charges for looking after your investments or providing advice on a regular basis. If you're getting investment advice, ask your adviser if the costs include a review of your investments from time to time or if you must pay for that service separately.
Get a list of IFAs and more about the FCA on their website Financial Conduct Authority.
Many charities and national organisations give advice on long-term planning for your care and support needs.
The Money Helper website has detailed advice on:
- benefits to help with care needs.
- arranging long-term care for you or for a loved one.
- managing the money of someone you care for.
Specialist advice on care and support funding is also provided by many national charities including:
- Age UK help people to work out how much care and support costs and how to pay for care at home or residential care. Call 0800 678 1602. Age UK Sheffield is based at South Yorkshire Fire & Rescue, 197 Eyre Street, S1 3FG. Call 0114 250 2850. Email email@example.com.
- Independent Age gives free and impartial advice about care and support, money and benefits, and health and mobility. Call 0800 319 6789 or 020 7605 4200. Email firstname.lastname@example.org.
- Paying for Care helps people to plan how to pay care fees. Their website has detailed advice and calculators, and a list of advisers.
- Solicitors for the Elderly (SFE) specialist legal services for older and vulnerable people. Find details of SFE members on their website or call 0844 567 6173.
- Society of Later Life Advisers (SOLLA) helps people find trusted, accredited financial advisers who can help people plan for their retirement years. Call 0333 2020 454. Email email@example.com.
- Which? Later Life Care gives independent information to help people make care choices. Includes detailed advice about funding and paying for care and support.
- The National Careline gives support and information to the older people and their families, including paying for care and getting financial advice. Call 0800 0699 784. Email firstname.lastname@example.org.
- First Stop Advice give free and impartial advice for older people and their families. Advice on housing options and how to live independently, as well as care homes and nursing homes.
If you are entering into a legal agreement with the Council or someone else (such as for a deferred payment agreement) you should also consider taking legal advice (for example from your solicitor or from Sheffield Law Society, call: 0114 272 3655).