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Independent Financial Advice

Independent Advice

Paying for care can be expensive and an open ended commitment. If you are paying the full cost of care yourself, you should seek independent financial advice. Look for a financial advisor with specialist qualifications on advising on the funding of long term care. They will be able to explain all the costs and risks involved and should be able to help with other things such as setting up a Lasting Power of Attorney.

It is never too early to consider seeking independent or regulated financial advice about paying for care and support. Everyone should have a plan about how they will pay for their care and support now and in the future, should the need arise.

There are many sources of independent financial advice, from charities and voluntary sector organisations (such as Citizens Advice, Age UK) to trained individuals such as Independent Financial Advisors . The Council is unable to recommend Individual Financial Advisors that can assist you; however the Financial Conduct Authority has details of advisors that are independent and regulated. Your solicitor may also be able to offer independent advice, and may have qualified financial advisors working in their practices.

If you are getting advice about investing your money, you need to know  that there are 2 different types of financial advisors, “independent” and “restricted” – and this can affect the advice you are given.

Some advisors can offer the full range of financial products and providers available, and are called “independent advisors”. Many advisors have chosen to offer “restricted advice” and will focus on a limited selection of products and/or providers.

All financial advisors have to be approved or authorised by the Financial Conduct Authority. Both independent and restricted advisors must pass the same qualifications and meet the same requirements to ensure they are providing suitable advice.

An advisor or firm has to tell you in writing whether they offer independent or restricted advice but if you are not sure which they offer you should ask for more information.

Useful Organisations

City of York Council

Income Services Team:

Funding Applications, Financial Assessments, Disability Benefit Applications: 01904 552044

Personal Budgets, Direct Payments & Charging : 01904 554684

Deferred Payments, Invoicing & Payment Plans: 01904 555115


Age UK 

Provide independent information and advice and a range of factsheets online. 

Telephone: 0800 169 6565

Alzheimer’s Society

Provide information and advice fort hose with and caring for people with dementia. 

Telephone: 0300 222 1122 or 01904 567701

Care Aware

Provide independent financial advice.   

Telephone: 0161 707 1107

Citizens Advice Bureau

Provide free independent advice. 

Telephone: 0844 411 1444 or 1904 623648

Financial Conduct Authority

Provides contact details of all independent and regulated financial advisers and their areas of expertise. 

Telephone: 0800 111 6768

Gov UK The Care Act 2014


Provide cancer care services 

Telephone: 0808 808 000


Information, advice and support for those with learning disabilities, their families and carers. 

Telephone: 0808 808 1111

Money Saving Expert

Online impartial advice regarding budgeting, saving and planning for the future.

Office of Public Guardian

Information about applying for lasting power of attorney and deputyship. Tele 0300 456 0300


Pensions Advisory Service

Free and impartial advice to people with workplace and personal pensions.

Telephone: 0300 123 1047

Society of Later Life Advisors (SOLLA)

Advise about financial issues in later life.

Telephone: 0845 303 2909


Expert debt advice and fee free debt management. 

Telephone: 0800 138 1111


Advise about financial issues later in life. 

Telephone: 01789 774595

The Care Advice Line 

Help people to make informed decisions about their care and how to pay for it.

Telephone: 0161 413 7860

Getting Informed

Information about starting to look for care and who to talk to about meeting the costs.


Last reviewed: 26/11/2019

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