Later life lending as part of a holistic advice journey
Carly Proudfoot, national account manager at Key Partnerships, explores how later life lending can be effectively integrated into a holistic advice process, rather than considered in isolation, and highlights the adviser’s role in ensuring suitability, managing risk and delivering good client outcomes in line with Consumer Duty.
The learning objectives for this article are to:
- Understand how later life lending can be integrated into a holistic financial planning process, including its interaction with retirement income strategies, tax planning and estate considerations.
- Evaluate when solutions such as equity release may be appropriate, based on client objectives, cashflow needs, risk profile and personal circumstances, rather than considering them in isolation.
- Recognise your responsibilities as an adviser under Consumer Duty, including assessing suitability, managing risks, identifying vulnerability and evidencing good client outcomes when recommending later life lending solutions.
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