The growing issue of how best to prepare for later life planning, be it pension provision, funding the costs of care, or inheritance planning, continues to attract growing media and consumer attention. There is wide acceptance of the need for profound change in dealing with these issues through Health and Social Care bill and the last Queen’s Speech signalled that significant reform is planned.

Whilst such changes are debated and implemented there is however one continuing and accepted universal requirement. That is to increase both the availability and integrity of quality advice available to help individuals plan and prepare for these ever increasing years. SOLLA was created to help meet these very specific needs.

Founder and Joint Chair Tish Hanifan said “The RDR presented some important considerations for SOLLA. The organisation has taken time to objectively reflect upon how the industry and consumers responded to these changes before we established a firm public position. Our prime focus is to ensure that consumer and their families get access to an accredited later life specialist adviser

SOLLA has therefore taken a strategic decision to accept all advisers who achieve the Later Life Adviser Accreditation [LLAA] membership of SOLLA. In order to increase consumer choice, membership will be available to both independent and restricted advisers. The Society will make clear the regulatory status of each member so that consumers will then be able to determine which advice offering best suits their needs.

SOLLA was established in 2008 and is now established as a trusted and recognised consumer facing brand. All full SOLLA members have to achieve the Later Life Adviser Accreditation; [LLAA] endorsed and audited by the Financial and Legal Skills Partnership, and demonstrate ongoing commitment and adherence to SOLLA’s ethos and values as expressed in its Code of Practice.

Joint Chair Jane Finnerty said:”We have given this decision much thought, and we know that our membership criteria are now well established and based very much on the quality of the adviser and not the products they sell.  Thousands of consumers are not getting access to the advice they need in the areas of pensions and income in their later years, nor about the ways to pay for their care.  By ensuring that access to quality specialist advice which can make such a difference is SOLLA’s key influence in determining its way forward.”

Commenting on the future direction of the organisation Tish Hanifan added   “We have an established and growing presence in this growing advice market. SOLLA, as a not for profit organisation, is now the leading exemplar of standards related to Later Life planning and our future priorities are entirely concerned with extending access to  these services to a wider customer group.