Long-Term Care Due Diligence for Professional Financial Advisors

Moses, Stephen A.
September 2001
Journal of Financial Planning;Sep2001, Vol. 14 Issue 9, p158
Academic Journal
This article focuses on the roles of financial planners in long-term care planning. Advisors must practice professional diligence in the field of long-term care. Such would require advisors to: (1) understand the consequence of failure to save, invest or insure for long-term care; (2) advise their client of the risks posed by such failure; and (3) recommend responsible financial tools to prevent negative consequences. In many instances, the best alternative for advisors maybe to recognize that long-term care is a highly specialized fields and refer clients to trusted experts in that specialty.


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