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Balance Retirement & Aged Care Specialists

Changes to our Business

Posted on: September 20th, 2016 by Eric Hiam in Aged Care Financial Planning

i) Balance Financial Solutions & ii) Balance Aged Care Specialists



This has been driven by the Financial Planning Industry’s recent involvement in Aged Care, requiring any “advice” to be provided in a “Statement of Advice” (SoA) format , which takes much longer & costs a great deal more to provide, consequently the charges to our clients was going to have to increase fourfold, yet would not have delivered any better outcomes for our clients.

We decided to make the split, so that anyone who wants traditional financial advice (investment, retirement & insurance advice) or advice on Aged care (ie requiring us to express an opinion on which is the best way to go), will be serviced via Balance Financial Solutions, by a Financial Adviser (Michael Levene)

However, for those new clients, who are happy for us NOT to “Advise” you which is the best way to go, but instead to explain, how Aged care works & how it will work in your case, & demonstrate the options available to fund aged care, & the financial outcome of those different options, to help you to make an informed choice for yourself, then that is not considered advice & we do not need to produce a SoA, consequently saving us a significant amount of time, & therefore we can save our clients money on our fees. We call this new business -Balance Aged Care Specialists, & will be provided by our consultants, who are highly trained & skilled in aged care, but do not give investment advice & cannot express an opinion, about the best way to go, but can show you how to find these answers out (which is what most of our clients want). We provide two different alternatives in the new business;

i) Aged Care Options &

ii) Aged Care Support

The Aged Care Options appointment is the same service we have been providing for 15 years, & helped nearly 10,000 people move into residential aged care.