IFAs have been involved in creating a government guidance page for people who look after the money of those without mental capacity.
The guide has been created in conjunction with the Office of the Public Guardian (OPG) and sits on the government’s website. It helps explain investments, returns, risk, tax and financial advice for deputies and attorneys.
At an annual deputy day hosted by AIM-listed advice firm Frenkel Topping earlier this month, Paul Tregoning, deputy head of policy and practice at the OPG said IFA firms had been consulted in the creation of the site.
Although basic, the information may help spread the word about setting up a power of attorney, and how those appointed can work with financial advisers.
Frenkel Topping (LON:FEN) provides specialist independent financial advice focussed on asset protection for clients. The specialist independent financial adviser has a market leading position providing advice and fund management services for personal injury trusts and clinical negligence awards and is well placed to provide services to a wider customer base.