How to Choose an Aged Care Financial Planner

Wondering how to choose an aged care financial planner? Often the need comes unexpectedly. Mum or Dad gets rushed to hospital after a fall, and the doctor advises it is unlikely they can return home safely. Panic often ensues and a deep sense of overwhelm.

? How do we afford aged care?

? How does the system work?

? What do we do with the house?

? What do we do about the other parent still at home?

This is exactly when an aged care financial planner comes in to play, even though you may think you’ve missed the boat on ‘planning’.

You need to know what to look for in a good financial adviser. Families often need to make massive desicions over a LOT of money in a few weeks – there is a lot of room for very expensive mistakes to be made!

Here are a few key tips on the qualities you should be looking for when choosing an aged care financial planner and the questions you should ask.

Are they empathetic?

This is usually a highly emotive time for everyone in the family. You need someone who is empathetic to your situation, someone who knows how to deal with conflict, sometimes court orders and someone who genuinely cares about getting the best outcome for your family. Someone who will question “what would your mum want?”

Are they impartial?

You need an adviser who isn’t pushing an angle – someone who will just lay out all your options impartially.

Are they experienced?

There are 1000’s of financial advisers in Australia, however not many specialise in aged care. There are courses advisers can do which is advantgeous. We strongly suggest dealing with someone with a proven track record in the aged care space who deals with situations like yours day in, day out. Someone who understands the ins and outs of the system. Ensure your adviser is very experienced in dealing with all the ins and out of Centrelink. Working with Centrelink and the rules and regulations can make a big difference to your end outcome.

Are their fees clear?

Find out upfront exactly what fees you would be up for from undertaking their service. You can usually do this through a phone or email enquiry. Ensure there are no hidden fees or charges that you are going to be surprised about. Also find out when and how to make the payments to ensure it suits your circumstances.

When you are wondering how to choose an aged care financial planner, you need to be sure you have found the right person with the best skills to help you and your family through this time and deliver you the best result. Claudia has been in the aged care financial planning space for over 10 years and would love to help you. You can contact us here or email us at

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