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The UK's ageing population means that quality of financial advice for older people is under the spotlight. There is an upsurge of government interest in this area, and back in May, Gordon Brown pledged to reform the social care system for England's ageing population. In addition to the ongoing headlines about pensions, equity release scare stories appear in the national press with increasingly regularity. Meanwhile, representative groups are calling for better financial information for the over-60s.

The regulator is at it too. In April this year, the FSA called for IFAs offering focused "advice in a particular area of expertise" to gain "even higher minimum specialist qualifications" in its interim RDR report. Specialist advisers and practitioners are also keen to establish better ways of providing clear differentiators.

Financial decision-making for older people is an area where it is particularly vital to "get it right first time", and research studies suggest that many older people are sceptical about financial advisers because of past problems. But unless they have a network of financially-savvy contacts, how do older people find a financial adviser they can trust?

Last month, the Financial Services Skills Council launched the Later Life Adviser Accreditation Scheme. This new standard has been created especially for financial advisers working with older clients. It helps identify advisers with empathetic skills and enables them to understand the issues relating to older clients. It then provides these advisers with the appropriate frameworks they need to meet their clients' needs.

Who should apply? The Later Life Adviser Accreditation is awarded to individual advisers in recognition of demonstrating best practice, appropriate knowledge and client care procedures. It builds on existing skills and develops knowledge gained through previous study and workplace experience. It gives independent recognition of knowledge and advice skills which will help older consumers and their families identify potential advisers.

The LLAA has been specifically developed to help identify those who:

• relate well to their older clients;

• understand the specific issues relating to older clients; and

• give them appropriate advice to meet their needs.

The scheme was developed by the FSSC in collaboration with SVARfair, following recommendations from a working party that we convened together to consider how best to provide a form of recognition for consumers.

The development of an appropriate Accreditation Scheme has been supported by a variety of companies that are active in the older client market, and the steering group also included a representative from Age Concern. A proportion of the initial development costs of the FSSC's Later Life Adviser Accreditation Scheme were paid by the FSA, who have expressed their support for this scheme.

The scheme has also been supported by the industry, our primary sponsor Just Retirement Limited and our other development sponsor Partnership Assurance.

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