At Bray Wealth, we’re dedicated to constantly improving our knowledge and understanding of financial planning, so we can provide the best possible service to our valued clients.
Nick Swartout’s accreditation from the Society of Later Life Advisers (SOLLA) is a brilliant recent example of this.
We are delighted to announce that Nick was awarded his accreditation, demonstrating the valuable support he gives to clients dealing with the specific financial planning challenges they face later in life.
Read on to learn more about SOLLA and how this accreditation helps Nick look after his clients.
The Society of Later Life Advisers helps members deliver the best outcomes to their clients
There are several unique financial challenges you might face in your later years and the right support from a SOLLA-accredited planner could make it easier to overcome those hurdles. This might include help with:
- Retirement planning
- Funding care in your own home or a residential facility
- Equity release
- Saving and investment strategies
- Estate planning and tax mitigation.
Good quality advice in these areas ensures you can live your dream lifestyle in retirement without worrying about running out of money. Advice could also be invaluable as you get older, and are potentially more prone to face health issues, as it could mean that you’re better able to fund care.
As you look ahead to the end of your life, the right guidance may help you leave more of your wealth behind for loved ones too.
SOLLA supports their members in delivering advice by providing ongoing training and sharing knowledge about issues that affect people in later life.
The accreditation is their endorsement of Nick, showing that he has the necessary expertise to support clients in later-life financial planning. It also means he meets their high standards in terms of the level of service he delivers for clients.
Members of the Society for Later Life Advisers follow a strict “code of practice”
Older clients may have certain vulnerabilities and health issues that affect their ability to engage with financial planning. To ensure that members always act in the best interests of the client, SOLLA outlines a “code of practice” that advisers must follow.
In reference to the adviser-client relationship, the code says:
“Members should conduct their business with the utmost good faith and integrity, dignity and respect, being mindful of the well-being of their clients at all times.”
When communicating with clients, we will take any vulnerabilities such as cognitive issues or difficulties with hearing and vision into account. Where necessary, we will provide documents in braille or with larger text.
We also follow a “plain English” policy and avoid using financial terminology as far as possible to make everything easy to understand for the client.
Additionally, we may ask clients to bring a trusted friend or family member to meetings with their adviser, and both parties will be given a written record of the advice the client receives.
All these measures are there to ensure that we work in the best interests of our clients and they understand the advice they receive.
The code of practice also dictates that SOLLA members must not be misleading when communicating with the public and will protect the interests of the client when referring them to third-party services.
Nick completed a rigorous examination process to achieve his SOLLA accreditation
The process for achieving a SOLLA accreditation is rigorous, and Nick had to demonstrate that he could meet the high standards of the organisation when working with his clients.
As well as an online application, Nick completed a client case study designed to assess his technical knowledge and ability in delivering advice. It also examined his soft skills when dealing with potentially vulnerable older clients.
After completing the application form and case study, Nick attended an interview with an independent auditor. A panel of experts then reviewed the application in full and decided that Nick met the stringent requirements of a SOLLA accredited adviser.
We’re incredibly proud of Nick’s achievement as it demonstrates the excellent service that he provides to our clients.
The accreditation also earned Nick the necessary credits he needs to be named as a fellow of the Personal Finance Society (PFC). This is one of the highest accolades a financial planner can earn, positioning Nick as one of the most knowledgeable and experienced professionals in the sector.
Get in touch
If you need expert guidance about your wealth, our SOLLA-accredited advisers can help.
Please give us a call on 01276 855717 or email info@braywealth.com today.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
Approved by the Openwork Partnership on 04/07/2024
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