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Getting advice about your finances

 

It's a good idea to know what all your options are when you're thinking about how to pay for care and support.

If you're going to pay for care and support by yourself instead of involving us, we would suggest that that you get some financial advice so that you can make good decisions about how you can pay for what you need both now and in the future.

When you are shopping around for a financial product its important to know who’s offering what and what will suit your needs best.

Independent Financial Advisors (IFAs) are the only type of financial adviser who are able to select from all the products for your individual needs and you usually need to pay for this detailed service. They are regulated by the Financial Conduct Authority (FCA) which means that they have to provide advice most suited to your personal requirements.

You can find one local to you through The Society of Later Life Advisers (SOLLA).

The Citizen's Advice Bureau and Age UK can also offer general guidance and advice, or may be able to point you towards other suitable independent financial advisors. You can also visit the following sites for more information on who can help with financial advice. www.unbiased.co.uk or www.moneyadviceservice.org.uk

There are lots of different ways that you can find extra sources of money to pay for your care and support and a good financial advisor will work closely with you to see what the best option is for you. You need to be aware, however, that there will be a charge for their services.

To find out more about what independent financial advisors can do, what they can help you with and how much they may charge you, visit the Money Advice Service.

For general advice and about the financial assessment process, or help understanding what benefits you might be entitled to, please contact the councils financial assessment team.

 

Contact us

For further information about adult social care in Gateshead contact:
Adult Social Care Direct, 24 hours a day, 7 days a week
Phone: 0191 433 7033
Email: adultsocialcaredirect@gateshead.gov.uk
Online enquiry form