Advisely Partner
Advisely PartnerThanks for the stats Terry. The percentage of practices is quite low - and alarming, but not surprising. We are finding that advisers are busy, and put off venturing into longevity and later-life (or aged care) planning because they feel they don't have time and don't know where to start. But there are easy solutions to ensure they don't miss the opportunities - outsourcing is one solution.
Thanks Louise and Terry for these insights. It's increasingly clear that 'advice' as required by clients (and ethics) is well beyond what most current advisers have the time or resources to provide, let alone deal with the structural changes flagged for the profession.
Segmentation of advice seems inevitable. The Aged Care specialisation was the first and a really useful initiative. At My Longevity we believe longevity planning is the essential preamble to more complex financial advice. It can be delivered to couples online, not just to the typical dominant male, without any regulatory complications. It builds engagement and trust to enable the growing complexities of products and strategies for later life to be thoughtfully framed and managed. A step into the future.
