Top four aged care advice myths

Aged care advice is the ‘new kid on the block’ for advice professionals and is often misunderstood. Many of the perceived business barriers are ill-conceived. Let’s uncover the reality behind the top four aged care advice myths.

The myth	The reality
Target clients are age 80 plus	It is true that this age group is the main user of aged care services. But when a crisis hits, it is usually the adult children (or grandchildren) who need advice and help to make decisions on behalf of their parents. So clients in the 40-65 age group are also a significant target audience. If this is your client base, you need to offer a solution to retain clients.
Aged care advice is complex and hard to learn	It is a new area of advice for many and – like all advice – involves certain complexities. So it will take a while to become proficient. Aged Care Steps has the training and support to get you started and help you along the way – with simple steps that make the process logical.
Aged care advice is a one-off transaction	Aged care advice is about building client relationships. Ongoing reviews of strategies, cash flow and performance are valued by aged care clients. Intergenerational wealth transfer is also a key service, so a client’s family can become your clients too.
Advisers can’t make money from aged care advice	Even a modest level of activity can translate into significant revenue. Aged care advice services enable advisers to protect and grow their clients and add additional value to clients.