Get advice about money

Independent financial advice

A specialist independent financial adviser can help you think about your funding options. This is especially useful if you need to pay for long-term care and support.

You could find independent financial advice helpful if you:

  • live in a care home and pay for your care from your income and savings
  • want to talk to someone about your financial situation and your options
  • are a power of attorney or deputy and look after someone else’s finances
  • think you are likely to need care and support in the future. For example, due to a long-term health condition

Choosing an independent financial adviser

There are lots of independent financial advisers, so it may seem difficult to work out who is right for you.

Make sure that you use someone who is registered with the Financial Conduct Authority.

You might want to consider:

  • someone accredited with the Society of Later Life Advisers (SOLLA). SOLLA-registered financial advisers undergo a training and accreditation process. They are specialists in planning ahead for later life. To find an adviser, visit SOLLA
  • an adviser who specialises in care fees may offer more tailored advice. Most financial advisers will state if they have any specialist areas of knowledge. You can also check this with SOLLA.

Restricted or unrestricted financial advisors

Restricted financial advisers are usually tied to an organisation, such as a bank. This limits the range of products they offer, so you may not get the best choice. You might still prefer this if you trust a certain bank.

Unrestricted financial advisers will look at all available products across the market. This gives you a wider choice. 

Beware of anything that seems too good to be true

Some financial advisers work on the basis of protecting or transferring your assets. Government regulations call this ‘deliberate deprivation of assets’. Loopholes that seem to offer a way to save money may cause you problems later. 

Equity release schemes

These are a range of products available to homeowners aged over 55. They let you access the equity (money) tied up in your home without selling it. 

For a useful guide which explains your options and what to look out for, read:

What is equity release? | Money Helper

What to do next

Having an assessment

If you would like an assessment of your care and support needs, you can start this online:

Start your needs assessment

Or you can get in touch with us:

Contact Adult Social Care and Health

Citizen’s Advice Bureau (CAB) in East Sussex

For advice about your situation, you can contact your local Citizen’s Advice Bureau.

  • For Eastbourne, Lewes, Hastings and Wealden call 0344 411 1444 
  • For the Rother area call 01424 215 055
  • Visit Citizen's Advice East Sussex

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