Who were IFACare and what was the organisation about?
IFACare was the national organisation of Independent Financial Advisers (IFAs) with a special interest in providing financial planning advice to those concerned with the current or future need for long term care. IFACare is now closed
History
In 1995 a number of professional IFAs recognised the growing need for advice on long term care planning and also identified the potential risks to a vulnerable sector of the public posed by the sale of unregulated insurance products by poorly trained salespeople.
IFACare was formed in January 1996 with three principal objectives:
- Llobby for the regulation of all long term care products and of advice relating to long term care planning.
- Offer the public, through its members, a reliable source of well-informed advice supported by a programme of education and a code of conduct.
- To encourage debate and discussion between advisers, care providers and other interested parties, with a view to guiding the development of new products and services for long term care planning.
Past Achievements
IFACare had been involved in discussions with Government Ministers and Departments, contributing to the debate on the regulation of long term care planning. It seems likely that regulation will be introduced within the next few years that are the direct result of IFACare lobbying.
By October 2010 IFACare had over 250 members, all of whom are authorised as independent financial advisers and all of whom undertake regular specialist training to keep abreast of developments in the ever-changing field of financial planning for long term care.
IFACare's programme of professional training workshops has become recognised as the leading source of education and training for practitioners in the field of long term care planning.
All IFACare members undertake to abide by a strict code of conduct.
The views of IFACare members, based on the experiences and problems of their clients, have been used by insurance companies and care providers in the development of new products and services, extending the choice available to the public.
