It has been recognised that the UK’s social care system requires reform in order to meet the changing and increasing needs of an ageing population. New legislative changes have been proposed to change various thresholds and introduce a supposed care ‘cap’ on fees. Despite these changes not coming into effect until October 2023, anybody moving into care is likely to be affected by the changes. The changes are likely to result in a far greater need for financial advice.
Social Care Advice
You’re likely to face a new set of challenges when either you or a loved one – perhaps a parent or grandparent – needs to plan for later life and long-term care. This can be an emotional and stressful time for all involved. Arranging care for older people in the UK is not always easy, due to complex systems and measures that exist to assess your need for care and how it will be funded, which vary from one part of the country to another.
It can also be very costly – as a general rule of thumb, if you have savings or assets of more than £23,250 in England and Northern Ireland (this threshold is higher in Scotland and Wales), and do not qualify for NHS continuing healthcare, then you will likely have to fund your own care needs.
Once your local authority has deemed that you are to be a self-funder, you are on your own and any care decisions and costs will have to be taken by you and your family.
At Rhodes Wealth Management, we have access to Care Sourcer (an independent, expert company in the field of long-term care) to provide a new Care Concierge service – designed to offer guidance and support at a time when you need it most.
Care Concierge is a confidential telephone advisory service that helps people to understand, find and navigate elderly care services. Their support includes:
Our aim is to provide you and your family with peace of mind when you need it the most. Contact Rhodes Wealth Management for expert guidance on finding and funding long-term care for you or a loved one. Thanks to the relationship with Care Sourcer, we are able to help you through the whole process – from finding the right solution for you, to making the necessary financial arrangements.
The services provided by Care Sourcer are separate and distinct to those offered by St. James’s Place.
Working with you
We provide face-to-face financial advice to our clients.
Giving you the opportunity to review your financial affairs regularly.
Managing your investments proactively, with your needs in mind.
Exploring new opportunities with you.
Planning for the future appropriately helps to preserve your estate and pass it to those closest to you.
Protecting those closest to you with estate planning.