When someone in the family needs aged care, families are often feel under pressure to make fast decisions – and financial advice can feel like just another box to tick. But not all “aged care advice” is equal. Before you agree to meet with an aged care financial adviser, there are three questions you should ask first. The answers could make the difference between peace of mind and costly mistakes.
1. What qualifications do you have – and are you a licensed financial adviser?
This is the most important question, and one many families don’t realise they need to ask.
Some people offering aged care “advice” are:
- Placement consultants
- Case managers
- Real estate–aligned services
- Or advisers with no formal financial planning qualifications
While these professionals can play a helpful role, they are not licensed to give personal financial advice.
A qualified aged care financial adviser should:
- Be a licensed financial planner
- Hold current professional registrations
- Be legally permitted to provide personal financial advice under Australian regulations
Why this matters: Aged care decisions affect assets, pensions, fees, Centrelink entitlements, and long-term family wealth. These decisions require regulated financial advice, not general guidance.
If an adviser cannot clearly explain their qualifications and licensing, that is a red flag.
Helpful link: You can check a providers registration here.
2. How much real-world aged care experience do you have?
Aged care is one of the most complex areas of financial advice. It’s not enough to “also do aged care” occasionally – your family deserves more than that.
You should ask:
- How long have you worked specifically in aged care advice?
- How often do you work with families?
An experienced aged care specialist understands:
- Residential aged care fee structures
- Home care package considerations
- RAD vs DAP strategies
- Centrelink and pension implications
- Timing issues when someone is in hospital or transitioning urgently
- The emotional and practical pressure families are under
Experience matters because aged care rules change, situations vary widely and mistakes can cost families tens of thousands of dollars over time.
A specialist adviser brings not just knowledge – but judgement built from helping hundreds of families through similar decisions. Also check their reviews – honest, real Google reviews are VERY hard to get for financial services but if a provider has them it is a good indication of the service you can expect.
3. What does it cost – and what value does it provide?
Yes, aged care financial advice has a cost. And no – it is usually not “cheap”. But the better question is:
What could it cost you if you don’t get it right?
Good aged care advice can:
- Reduce or avoid unnecessary aged care fees
- Protect pension entitlements
- Prevent rushed property decisions
- Save significant amounts over the life of care
- Provide clarity and confidence during an emotional time
For many families, the advice fee is far outweighed by the long-term financial savings and the stress it removes.
A professional adviser should be upfront about:
- How their fees are structured
- What services are included
- What outcomes the advice is designed to achieve
Transparency builds trust – and it allows you to make an informed decision. Aged care decisions are often made during one of the most stressful periods a family will face. Asking the right questions before you agree to meet an adviser ensures you are speaking to someone who is:
- Properly qualified
- Highly experienced
- Transparent about costs and value
Most importantly, it ensures you receive advice that is in your family’s best interests – not generic, rushed, or incomplete.
