Financial Adviser become Dementia Friends

Independent Financial Adviser, Eastern Financial Consultants in Brundall have recently become ‘Dementia Friends’. Our role within the community as Financial Advisers is an important one, which supports and guides our clients and their families.

Dementia Friends

Dementia Friends is the biggest ever initiative to transform how the nation thinks, acts and talks about Dementia. Becoming a Dementia Friend is about learning more about Dementia and the small ways you can help.

Dementia is caused by a number of diseases that affect the brain. The most common is Alzheimer’s but diseases also include vascular dementia, dementia with Lewy bodies and Pick’s disease.

The word ‘dementia’ describes a set of symptoms that may include memory loss and difficulties with thinking, problem-solving or language. These changes are often small to start with, however for someone with dementia they have become severe enough to affect daily life.

Independent Financial Advice

As dementia progresses, there may become a time where the person may struggle to manage their finances and affairs. At some point, they may need extra support, or for someone to manage their money for them.

It is important to understand how the individual is struggling. They may be able to cope with day-to-day financial decisions such as shopping, but may have difficulty with more complex decisions, such as making choices about investments.

Some may have planned ahead and created an Enduring Power of Attorney (before October 2007) or Lasting Power of Attorney (LPA) for Health and Welfare. However, some families struggle with the decision to register the power of attorney and start acting on their behalf.

If an LPA has not been made then a carer may apply to the Court of Protection to become a deputy, giving them the authority to manage the financial affairs of the person with Dementia. It is important to ensure that each decision is made in the persons best interests and take account of past and present interests.

At this point it may be appropriate to discuss using an Independent Financial Adviser.

Broadland Dementia Action Alliance

At Eastern Financial Consultants, all our support staff and Independent Financial Advisers have completed a Dementia Friends awareness session. We would like to Thank Margaret, from the Sprowston Dementia Friendly Community who delivered the Information Session on behalf of the Broadland Dementia Action Alliance.

In joining the Broadland Dementia Action Alliance, Eastern Financial Consultants has made small changes to our office in Brundall to support clients and their families when visiting such as clear signage. The Broadland Dementia Action Alliance is encouraging organisations locally to undertake an information session make Broadland a more dementia-friendly place to live and work.