Taking care of the carers

The scheme was piloted during late 2007, with advisers from Care Asset Management and Nursing Home Fees Association Limited.

We have been struck by the amount of interest already shown in the month since we launched. In addition to those advisers who were involved in the pilot, nearly 100 financial advisers have already registered their interest and have indicated that they will take up the accreditation this year.

What do advisers need for successful accreditation?

I hope that your appetite for accreditation has been whetted. If so, the skills council has produced Adviser Guidance to help you to decide if the accreditation is right for you and to help you prepare for the steps to accreditation. The guidance covers:

• minimum entry level and knowledge requirements;

• the LLAA Standards an adviser needs to achieve;

• what will be required during a work-based assessment; and

• examples of the advice skills (soft skills) to be demonstrated.

To register for the LLAA an adviser must already be deemed "competent" as an authorised financial adviser and hold a financial planning qualification such as the FPC, certificate in financial planning or another appropriate qualification accepted by the FSSC, such as the certificate for financial advisers or investment advice certificate. In addition, advisers will need to hold an approved long-term care qualification and an approved equity release qualification.

As well as meeting qualification requirements, in order to complete the scheme advisers will need to:

• Demonstrate through work-based assessment that they can apply their knowledge and understanding when advising older clients.

• Work within a supportive environment (see below) to ensure the quality of their advice/administration procedures is exemplary.

• Complete continuing professional development to update knowledge on areas such as product development, legislative change, and gerontology.

What are the benefits of accreditation? As well as being good for consumers, the scheme offers potential competitive advantage for advisers. Successful applicants will be listed in the FSSC's online directory of Accredited Later Life Advisers and can use an FSSC Recognition logo on their materials. While it is the individual who is accredited, it may also have uses for firms: for example recruitment and selection, evaluation of staff, providing an external benchmark, and identifying skill gaps and emerging skills needs.

Readers interested in the scheme can find out more, and register, at the FSSC website, www.fssc.org.uk/accreditation

Sarah Thwaites is director of Skills Development for the FSSC