Huge congratulations to Holly who has just passed the CII exam in Long Term Care.
This two-hour exam tested her knowledge in later life planning for clients who need to cover care costs.
The cost of a residential home is now around £54,000 per year on average in the UK. In many cases, clients are unable to fund this cost from their income, and so capital must be used.
The CF8 qualification tests different approaches to this problem such as investments, cash flow modelling and the use of impaired life annuities. It also focuses on the taxation of these solutions as well as robustly testing knowledge of state benefits and legal intricacies linked to later life planning.
The CF8 is a necessary regulatory requirement for all planners working in later life planning. Darren has held this qualification for many years and so it is wonderful to now have two people in the firm with this important qualification.
This exam adds ‘credits’ to Holly’s mission to achieve full ‘Chartered’ status from the CII. Very well done indeed Holly!