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Financial planning

Long-term care planning

Financial planning

Long-term care planning

Financial planning

Long-term care

What is long-term care planning?

Long-term care planning is a key element of later-life financial advice. It helps individuals plan and manage the costs of long-term care services, like nursing homes or home health care.

Financial advisers will look at people's finances, including their savings, income, and insurance, to create personalised plans.

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Why get advice on long-term care planning?

Taking advice on long-term care planning is essential for several reasons:

  • Exploring funding options - gain clarity on various funding choices available, including state funding, and what level of care that would provide.
  • Managing cost concerns - receive guidance on managing the potentially high costs associated with long-term care, ensuring affordability and minimising financial stress.
  • Planning ahead - alleviate worries about potential future life events, and how that might impact your finances.
  • Reassurance - a comprehensive plan on costs and impacts on your wider finances. Plus, recommendations on how best to cover any shortfalls.
  • Specialist support - our advisers are SOLLA (Society of Later Life Advisers) accredited, meaning they've received extra training to provide specialised guidance on long-term care. They have the knowledge and practical experience needed to support you effectively.

How to receive financial advice

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Video call

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In person

How to receive financial advice

You can choose to meet with your adviser by telephone or video call. If you'd prefer in person meetings, you'll be matched with an adviser local to you. These options offer flexibility, making it convenient for you to access personalised advice, regardless of your location or communication preferences.

Cost of financial advice

Long-term care planning is included as part of the HL Financial Planning Service.

Our financial advisers typically charge 1-2% of the assets advised on (+VAT where applicable, minimum charges apply). This is a one-off charge which will depend on the complexity of your situation, the time needed to understand your goals, and to provide personal recommendations.

Your financial adviser will let you know if they think you'd benefit from ongoing advice. This comes with an extra charge.

Advice on the transfer of any secured benefit, such as a defined benefit pension (a final salary pension), will be subject to a separate charging structure, which your adviser will discuss with you.

Summary of charges

Getting advice starts with one call

Getting advice starts with one call

The first step is to talk to our advisory service team. This initial discussion is to determine if our advisory service aligns with your needs and goals and would be a feasible option for you.

During this conversation, we'll ask straightforward questions to understand your financial objectives and the total value of the assets you're seeking advice on. No financial advice will be given at this point.

If our advisory service is the right fit for you, we'll connect you with one of our experienced advisers for a first meeting.

Book your free call

Find an adviser

Find nearby HL advisers with our simple tool, and select the perfect match based on their areas of expertise and the type of advice you're looking for.

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Long-term care planning insights

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