The Later Life Adviser Accreditation Scheme has been developed by the standard-setting body the Financial Services Skills Council (FSSC), working with financial services consultancy SVARfair. The FSSC standard is intended for advisers with a high level of competence in dealing with the older client market, and is supported by a variety of companies that are active in the older client market as well as a range of consumer bodies and
Building on the basic Financial Services Authority (FSA) requirements advisers must already possess in order to work in this field, the accreditation recognises the enhanced level of skills, knowledge and empathy that advisers need to work specifically with older clients. A proportion of the initial development costs of the FSSC's Later Life Adviser Accreditation Scheme were paid by the FSA, who have also expressed their support.
The FSSC scheme is being promoted to consumers and will also enable accountants, solicitors and front line care advisers to direct clients, who may be at a very vulnerable time in their lives, to appropriately qualified practitioners. Age Concern Financial Services Policy Adviser, Jane Vass, says: "Age Concern warmly welcomes the Later Life Adviser Accreditation scheme as a way of recognising financial advisers with the specialist skills and knowledge needed to deal with older clients."
Just Retirement is the primary development sponsor and Partnership Assurance also supports the scheme.
