A Bath-based IFA has partnered with a firm of solicitors to launch a new care planning service, claiming that only through partnering with professional advisers in other sectors can specialist clients receive the services they need.
In FTAdviser’s weekly profile interview, to be published later today, Money Wise IFA founder Malcolm Coury lays out his plans for Care Planning Services, which has been launched in partnership with Stone King Solicitors.
Care Planning Services will be the latest of three newly-launched specialist arms for the IFA firm, also including a workplace pension and personal injury propositions.
Mr Coury said: “It’s an all-encompassing service helping with later life planning. We work a lot with solicitors, in the sense that we like to work with other professional advisers to take a more joined up approach.
“We aren’t a product distribution business, we are a professional financial advice business.”
Services offered by the new venture, which is set to launch later this month, will include advice on powers of attorney, care fees planning, securing income, will-writing, preparation for local authority means-testing and others.
He said: “When advisers talk about providing holistic service what they mean is using cash flow modelling etcetera and it’s more about advice than products. We do that but we are targeting specific needs where you need specialist skills. It isn’t Mr and Mrs Miggins getting a mortgage.
“And we have to work with the other professions in order to be effective.”
The full profile will be published later today.
