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Symponia and FSA to hold talks over care fees planning advice

Symponia has been invited by the FSA to take part in discussions on how best to take forward the issue of care fees planning advice.

The move follows Symponia’s lobbying of the Government to tighten the regulation of care fees planning to protect the elderly.

The care fees specialist gained the support of a group of MPs who helped press the FSA to meet the firm.

Co-founders and joint managing directors Janet and Jeremy Davies met FSA manager of pensions and financial promotions policy Paul Hun- ter and retail investments policy manager Jason Pope to call on the regulator to expand its CF8 care fees planning qualification.

Davies says while the qualification is a step in the right direction, it is too product-centric and out of date.

He says: “Symponia is happy that the FSA has pic- ked up the gauntlet and is prepared to listen, adapt and then make existing guidelines clearer for the general public and especi- ally for families of those who are facing care.”

Pope says: “I have contacted colleagues in other relevant departments to begin reviewing the messages we send out to firms and consumers concerning qualifications and competence in the care planning market. We will look into how best we can confirm our expectations from advisers.”

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