Blog / Wealth Management


In Australia, the number and proportion of older Australians (aged 65 and over) is increasing, and this trend is expected to continue. 

And so, the need for financial advice around aged care is also increasing and with it, a growing demand by financial advisers to provide relevant, client-centric educational material. 

To support this demand, IRESS has released a new Aged Care learning module within the Financial Knowledge Centre. The module assists clients that wish to gain a better understanding of this complex space, whether they are wealth accumulators helping ageing parents or retirees transitioning into the next stage of retirement.

The Aged Care learning module can be leveraged in a variety of ways. Whilst ticking the box as an online, client centric educational resource, it can also serve as a great reference tool to enhance client meetings or aid as a post-meeting reading suggestion.

Aged Care learning module

The Aged Care learning module builds upon the already comprehensive list of 13 learning modules available within the Financial Knowledge Centre, which range from specific areas of personal finance (cashflow and debt management, personal insurances, estate planning, investments and superannuation) to the psychology behind what makes us tick when it comes to money. 

It is a comprehensive, yet easy to follow, library of aged care educational material. When read in its entirety, your clients gain a better understanding of several of the main aspects of aged care, as well as particular circumstances where financial advice may be an important consideration, including:

  • Aged care services such as the Commonwealth Home Support Programme and Home Care Package, as well as residential aged care and palliative care

  • Aged care and estate planning considerations, such as wills, powers of attorney, guardianship and advanced care directives

  • Aged care and carer financial assistance, such as the carer payment, carer allowance and carer supplement

For Financial Knowledge Centre clients, there is no extra cost for the Aged Care learning module. We recognise that every financial planning firm is different, so you have the option to turn the module on or off for viewing by your clients.

Annual technical reviews conducted by Deakin University ensure the module is kept up-to-date; and updates may also take place in line with legislative changes and proposed budget measures.

And finally, after reading through the module, you and your clients can test your knowledge by completing the Aged Care quiz.

 

*Earlier this year, we also announced a new SMSF module within Financial Knowledge Centre, read more about it here.
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