Advisers must prepare for long term care boom with exam

Chris Horlick, long term care managing director at Partnership,  says 53,000 self-funding people enter long term care every year, but the those who seek advice are likely to do so from an adviser who is not qualified to advise on long term care planning. "Only 6,000 or 7,000 IFAs have the CF8 qualification," Horlick says, "So IFAs say, ‘buy an investment product' which is inappropriate for a client who is 82 and going into care." The CF8 qualification was introduced in 2005 in order to better equip IFAs to advise on products such as long term care annuities. The FSA introduced the ...