Symponia: independence not sole factor in LTC advice

Jenna Towler
clock

Getting financial advice on long-term care (LTC) is a welcome part of the latest Care Bill, however, it is not essential that advice is independent, trade body Symponia has said.

The professional body for care fees planning advisers said it backed the government's decision to include financial advice in the Bill but urged caution on it being only from IFAs.

Symponia joint founder and managing director Janet Davies said there was a clear need for regulated and highly qualified advice in the area.

However, she added: "Symponia's view is that we should not get too hung up on the word ‘independent'. Yes, the term needs to be fully clarified but ‘independence' is not the sole key. Good advice is good advice, regardless of the authorisation of the adviser giving it.

"A more important aspect will be to ensure that the ongoing qualifications and CPD match the deference of the subject. Dismantling a lifetime's finances and assets takes time, skill and the utmost sensitivity.

"Symponia looks forward to working with the relevant bodies to help enhance the advice process and make sure that it is made available to all those who require it; ie, every self-funding resident."

More on Long Term Care

The cost of health issues on earnings and employment

The cost of health issues on earnings and employment

ONS data

Cameron Roberts
clock 26 June 2025 • 2 min read
148.9m working days lost to sickness in 2024

148.9m working days lost to sickness in 2024

ONS data

Cameron Roberts
clock 04 June 2025 • 2 min read
Reframing the adult social care crisis

Reframing the adult social care crisis

Why the cost of inaction could be the catalyst we need

Tony Müdd
clock 23 May 2025 • 5 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read