60% of advisors seek training on retirement living and care-related knowledge for 2026
Asking clients where they are going to live in retirement can be a thorny subject when you’re advising clients on later-life financial planning.
The chances are “my own home” will be the answer for most people. FTAdviser cites research by the Equity Release Council showing that 67% of people over 50 are determined to remain in their own home if they need care. This figure rises to 76% of people aged over 70.
Are you confident and knowledgeable enough to challenge them on their laissez-faire approach?
In some cases, their somewhat dogged determination is driven by sentimentality. However, in other cases it can stem from an understandable – but often misconceived – desire to retain independence.
Sadly, this can sometimes be counterproductive. If an individual’s wellbeing continues to decline, rather than keeping their independence they may become increasingly isolated.
Another key factor is cost, usually driven by lack of understanding of the full financial scope of retirement living. Believing it’s cheaper to bring care into the home, people can discover too late that the reverse is true – in many cases, in-home care is more expensive.
The key here is for you to have confident conversations with your clients about retirement living and its potential benefits.
Educating your clients about all retirement-living options can help you to support their later-life wellbeing
Mortgage Solutions reports that 60% of advisors have highlighted later-life and care-related conversations as their biggest training need. This is particularly pertinent given the Financial Conduct Authority’s (FCA’s) focus on retirement income and Consumer Duty.
It’s perhaps unsurprising that such a large number of advisors feel ill-equipped for this element of planning. These conversations can be fraught, encompassing the emotional aspects of health, family, and later-life independence, as well as finances.
However, discussions about retirement extend beyond investment performance and estate planning. With our support, you can talk to your clients about the benefits of living in an Independent Retirement Community (IRC).
To help with knowledge gaps, Riverstone Living can work with you to offer accurate, confident advice about retirement living to your clients. We can show how unfounded affordability worries often hold people back – and equip you with a clear understanding of the options available.
We can also signpost you to other valuable sources of information, including My Care Hub and the Equity Release Council.
Together, we can start to address misconceptions and change perceptions around how your clients view IRCs.
Taking a holistic planning approach means discussing wellbeing benefits along with the financial considerations
Giving your clients a clear understanding of the financial model for IRCs is also key. For example, the potential Inheritance Tax (IHT) efficiencies gained from Riverstone’s deferred fee model are not widely understood but can be an important part of an estate planning conversation. The deferred fees are applicable after death, which can help to reduce an estate for IHT purposes.
The opportunities from this type of holistic planning are many, both for your clients and for you.
IRCs provide an attractive alternative to many traditional care home options, offering your clients an independent, fulfilling life with access to high-quality care services.
