Clients’ failure to consider how long they will live and the likely need to pay for care are driving IFAs to feel they must challenge clients about giving living inheritances, according to Just Group.
The firm's ‘Social Care - A Decade in Review' report - published today (18 October) - found almost two-thirds (64%) of advisers believe their clients have not fully considered how long they might live and therefore need an income for. More than half (52%) of advisers also told Just Group they felt their clients do not have enough money to give away while 37% said their clients have not considered how they might fund care in later life. Parallel to this, the report found one in four men are expected to live to age 92 and one in four women to age 94. Wealthier people are also likely to ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes