Professional Advisors
Providing exceptional later living in the heart of London
A guide for all professional advisors
Riverstone works with advisors to help in understanding the benefits, both financial and wellbeing, of retirement living. The way later life is currently portrayed is not realistic, aspirational or reflective of how people can and wish to spend their retirement.
That can be due to preconceptions around stereotypes, affordability or confusion of retirement fee models, which hinders them in planning for later life, holding them back. And this can be detrimental to their wellbeing and finances.
Riverstone are here to help.
Key Financial Points for Advisors:
· Retirement properties utilising a deferred fee can be used for inheritance tax (IHT) planning as the deferred fee falls outside of the estate. This can account for up to 35% of the property sale price
· Membership fees can be fixed to provide certainty (fixed monthly costs)
· The deferred fee model can provide greater funds upfront to support clients lifestyle through retirement
· The deferred fee can provide greater planning opportunities including gifting, resulting in heirs receiving more than if donors had remained in their family home
· In the long run average price inflation for Independent Retirement Communities (IRCs) with a deferred fee have outperformed the wider UK housing market, whilst also being less volatile*
Consumer Duty, Financial Advice & Retirement Living
Retirement Living provides various options which form a key part of Financial Planning. Consumer Duty urges advisors to tailor advice to their clients’ unique needs, so being able to knowledgably discuss the options on how and where clients plan to live in retirement is vitally important.
Retirement Living options can have a significant impact on a clients’ plan which can be modelled through cashflow planning to a clearer view of the potential opportunities available.
Reviewing clients’ finances when it comes to retirement living options can demonstrate the impact upon their lifestyle and wellbeing, not just their financial viability.
The Impact of Planning on Wellbeing
Accessibility of luxurious lifestyle-focused retirement communities offering security, fixed-cost budgeting, and state of the art services such as spas, gyms, restaurants, cinemas and much more, can be shown to improve wellbeing and lifestyle in retirement.
Integrated retirement communities provide for a more convenient & engaging lifestyle.
Riverstone provide active engagement and intervention focusing on residents’ wellbeing, improving people’s health, reducing their decline both physically and mentally, and ultimately keeping them out of Care Homes. Those that stay in their own home are 50% more likely to have to move to a care home, than those that moved to an IRC**.
Independent Retirement Communities, such as Riverstone, are shown to provide***:
· 23% decrease in anxiety symptoms
· 24% increase in autobiographical memory
· 18& reduction in falls over the first two years
With the projected increase in IRC adoption, it is expected to deliver £5.6bn savings for the UK’s health and social care systems by 2030.****
· Reduction of planned and routine visits to GPs down by 46%
· Reduction of unplanned hospital stays from 8-14 down to 1-2 days
· Living within IRCs results in a cost saving to the NHS of 38%
Experience Riverstone - Contact Bruce Ely Johnston, Director – Financial & Professional Services
Riverstone are the largest operator in the high-end retirement living sector, providing a lifestyle that stands out in every aspect; whether it’s the wellbeing proposition, facilities, community, service or the options of the financial model.
If your clients wish to visit, they are welcome to join us at an event or have a private tour. Get in touch and we can arrange for them to be contacted personally and invited in.
We can assist you in finding out more about the market and the available options to your clients.
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* Source: Knight Frank Research, Land Registry
**Kneale, D. (2011) ‘Establishing the extra in Extra Care: Perspectives from three Extra Care Housing Providers’. London: International Longevity Centre – UK. P. 4-5.
***Independent studies carried out by Aston University between 2012-2015 and Lancaster University between 2015-2018, commissioned by The Extra Care Charitable Trust, provide clear results: IRCs providing wellbeing deliver measurable positive health outcomes for individuals, and significant cost savings for the social and health care system.
****ARCO Analytics, 2019. ‘Retirement Communities Fact Pack.’
***** T&Cs. A complimentary lunch at Maria G’s is available when exploring the residence with a pre-booked visit with a Riverstone Team Member (on or before 31st December 2026). The offer is limited to two guests (one which must be 65+) up to a maximum value of £75 per person and is subject to availability at the time of booking. Details of your financial advisor must be provided to qualify. This offer is non-transferable and no cash or alternative will be provided.