Advice to elderly clients or relatives of elderly people

When leaving school and college all those years ago, I walked away feeling that my days of taking exams were over. How wrong I was! Since becoming a financial adviser way back in 1986 I have not stopped taking exams or studying.  And quite rightly so; it’s only right that when people put their trust in you in terms of their finances, that you know what you’re talking about. As we continue to see the transition of financial services from an industry (mainly driven by sales) to a Profession, Financial Advisers must be able to demonstrate a degree of competency through examination and continued competency through continuous professional development. The learning never ends.

Of all the exams I have sat, none were as daunting as the accreditation process I have just gone through with SOLLA [Society of Later Life Advisers]. To quote their website,  The Society of Later Life Advisers  aims to assist consumers and their families in finding trusted accredited financial advisers who understand financial needs in later life.”

To get accreditation an adviser must be able to demonstrate that they have the right set of skills to deal with older people and work within a supportive environment which recognises that the advice process for older people may be different to that for younger clients. Demonstration of these skills involves an audit process of an advisers qualifications and demonstration of a continued learning environment together with an individual assessment by an auditor in a ‘live’ situation. This was the most daunting aspect for me; before the assessment I was given a typical case scenario and then asked to prepare for a discussion where the assessor would play the role of a client. I will readily admit that initial nerves led to a degree of initial hesitation and a few moments of panic but once I got into my stride I was able to demonstrate that I had the knowledge required to advise in this area and the soft-skills necessary to be able to make myself understood.

Being granted accreditation status demonstrates that I, and the environment I work in, is tailored towards providing advice to older clients or clients with elderly relatives. It is nice to have recognition for the effort put in and I am looking forward to assisting clients with issues such as Long Term Care Fee Planning, Equity Release, Inheritance Tax Planning and Income in Retirement Planning which are just a few of the issues that concern our elderly clients or their families.

For more information about our services contact us on 0113 2825017, email or visit our website:

Stephen Sale DipFA, CeMAP, CeLTM, CeRER, CELTCI, M.ifs

 BLM_logoSOLLA 2



The Retail Distribution Review (RDR) – Commission to Fees

Intended audience: Existing clients of BLM

On the 1st of January 2013, the Financial Services sector went through one of the biggest overhauls since the Financial Services Act was introduced in 1986.

It was introduced to improve service levels and transparency and to ensure the interest of Financial Advisers and their clients are aligned.

One of those changes is to move from commission to fees. Whilst commission has sometimes been a little restrictive from a remuneration point of view for the services undertaken for our clients, BLM has always used it in lieu of a fee. However, the move to fees does allow the cost of our services to be tailored to the work we do for you and is outlined in our Terms of Business letter that we provide you with at our meetings – so
far so good.

As is usually the case, when new legislation is introduced, there is a large amount of disruption and change required, especially to I.T. systems right through the supply chain.

BLM has been discussing this with clients who in turn have been signing client fee agreement forms since early last year, and these are now being sent to the respective platforms/service providers. They in turn will be contacting clients to confirm this.

As a client of ours, if you have received correspondence with regards this matter and need a reminder as to what it is about, please give us a call on 0113 2825017.

This will not be the last you will hear from us on this matter! There are a whole host of knock on effects, or “unintended consequences” as they put it, such as; clean share classes etc……no doubt we will be discussing this with you before April 2016!

Chris Malkin, DipFA, M.ifs
On behalf of BLM Partnership Ltd.

Visit our website: