Symponia co-managing director Janet Davies says the industry needs a change of attitude rather than another qualification, pointing out that the mandatory CF8 exam on LTC attracted adviser take-up of less than 11 per cent.
She says: “Discussing the potential need for care with a client has nothing to do with products. The client first needs to understand how the legislation will affect them. Only when they have had the opportunity to understand the situation can they decide if a product is for them.”
Ifs head of public affairs Phil Hall says: “This new certificate will help practitioners to give knowledgeable advice in what can be a very complex area. LTC is an issue that will increasingly affect society as a whole but the financial services industry can play a crucial role in providing solutions. It is vital that consumers receive appropriate advice.”