Why more complex retirements require a different approach to planning

 

Financial advisers are now incredibly well qualified, but exams don’t test how good they are at explaining complex later life advice in a way clients understand. This insight, coupled with her experience of working with older people in later life within financial services, led Jane Finnerty to co-found The Society of Later Life Advisers (SOLLA).

In 2008, alongside barrister Trish Hanifan, Jane set up SOLLA as a not-for-profit organisation designed to raise standards and accessibility to regulated financial advice for older people and their families. 

In our interview Jane explains how more complex and inter-generational retirement planning needs have become and why this necessitates a different approach and skillset from advisers. She explains how and why the unique SOLLA accreditation helps consumers identify advisers who best understand their unique needs across the various stages of retirement.

After all, it’s about helping people in later life avoid those 3am moments worrying about paying for care or setting up Powers of Attorney. That’s what comes with personalised advice specific to later life.

Jane started her career with Help the Aged, followed by a move in to financial services during the1980’s. The Financial Services Authority then approached Jane and asked if she could look at examination standards for long term care and equity release.

This led to Jane considering what could be done for older people to access the right kind of advisor at the right time. In 2008, she and Trish Hanifan founded the Society of Later Life Advisers.

Tune in to hear Jane explain the benefits of working with a SOLLA accredited adviser and what to expect on episode 020 of The Retirement Café Podcast.

 

Useful links

SOLLA – Society of Later Life Advisers

 

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