With the number of Australians aged over 65 set to treble over the next three decades, and with the disabled population also set to grow, financial advisers need to include aged care advice as part of a holistic offering to clients, Greg Roberts of Aged Care Specialists said.
“Senior Australians and individuals with disability all have one thing in common, the need for personalised advice as each situation is unique and requires a tailored outcome for their needs,” he said.
With this in mind, Mentor Education has launched a training solution for financial planners, accountants and lawyers with the addition of the Aged and Disability Care Specialist Adviser designation.
The offer has been well received, Mentor Education founder and director Dr Mark Sinclair said, with student intake for 2018 reflecting the industry’s response to this growing need.
According to Roberts, the financial advice sector needs more advisers than ever with the capacity to provide comfort and reassurance through advice, care and investment solutions at those critical times when important decisions need to be made.
For those seniors needing care and those individuals with a disability, the financial complexities and scenarios facing them can be literally overwhelming, he said.
For example, when considering residential scenarios, the options range from staying in the current home, downsizing, to renting, to granny flats, to independent living and residential care – all of which require personalised advice and support.