Local authorities do not understand benefits of advice in care planning, FCA is told

'Vary in effectiveness'

Tom Ellis
clock • 2 min read

Local authorities vary in their effectiveness to connect elderly people with regulated financial advisers, the Financial Conduct Authority (FCA) has been told.

In its occasional paper analysing the ageing population out on Thursday, the regulator said respondents expressed concern that local authorities were inconsistent in their efforts to help the elderly access financial advice for long-term care in later life. The Care Act 2014 made it a statutory requirement for local authorities in England to provide access to information and advice about care and support services in local areas. However, respondents told the regulator local authorities had a general lack of understanding about the benefits financial advice can offer those ‘self-fundin...

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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FOS expects to resolve 20% more cases as complaints surge

FOS expects to resolve 20% more cases as complaints surge

270,000 cases estimated to be resolved in 2025/26 amid demand

Isabel Baxter
clock 03 April 2025 • 3 min read
The Vulnerability Review: A reflection on the FCA findings and addressing the elephant in the room

The Vulnerability Review: A reflection on the FCA findings and addressing the elephant in the room

'Identification. Action. Reporting – don't delay'

Jonathan Barrett
clock 02 April 2025 • 3 min read
Navigating PISCES: FCA regulation doesn't equal protection

Navigating PISCES: FCA regulation doesn't equal protection

'Those investing via PISCES, and their advisers, should scrutinise issuers and their disclosures carefully'

James Tyler
clock 28 March 2025 • 4 min read