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Lonsdale Services launch ten point plan to support clients living with dementia

Wednesday 12 December, 2018

Lonsdale Services was invited to attend the dementia-friendly finance and insurance guide launch and conference on 26 November at the Royal College of Physicians.  You can download an electronic copy of the guide here.

Allan Ross, Dementia Friends Champion at Lonsdale Services said:

‘We were delighted to represent financial advisers at this important conference.  This is the second edition of the guide co-funded by Martin Lewis and the Mental Health Policy unit. The conference focused on the launch but there were very useful talks from carers, younger people living with Alzheimer’s and representatives from the financial services industry.  Figures show that one in three of us will develop dementia and one in nine of us will have caring responsibilities.  The Prime Minister’s challenge is that by 2020 the UK will be the first dementia-friendly nation.  Martin Lewis makes the point in the guide’s introduction that ‘even if there is one financially-dominant partner, financial resilience demands at the very least they put together a financial factsheet of all products, and have regular discussions of the household fiscal workings to make any transactions easier.’”

Allan Ross, independent financial and member of the Ware financial planning team in Hertfordshire continued:

‘The main overriding message we received at the conference was the need to balance independence with protection for those living with dementia.   Following the conference I have reviewed the principles set out by the FCA’s legal and regulatory framework in the FCA Mission Approach to consumers (July 2018) and consulted with Lonsdale colleagues to produce a ten point action plan that Lonsdale Services can introduce to make our organisation more dementia friendly. Financial advisers have a duty of care to protect the interests of clients living with dementia and as we normally meet clients annually we are well placed to detect early signs of dementia and alert family members.’

Lonsdale Services - 10 point plan to support clients living with dementia

  1. Encourage clients to set up a will and Lasting Power of Attorney (health & welfare and property & financial affairs).  Office of Public Guardian has leaflets for offices and e-learning videos.
  2. Encourage both partners in a civil partnership/marriage to understand their finances.  Educate our clients about investments.  Recommend they set up a financial passport detailing their financial assets.
  3. Ensure anyone living with dementia has their legal representative, trusted friend or relative present at a financial review.  Paperwork to also be sent to legal representative and relatives.
  4. Consultants to review how they interact with anyone living with dementia.  Be patient, listen and clearly explain paperwork that requires signing.
  5. Set up a vulnerable client group at Lonsdale Services to support clients living with dementia and review client feedback.  Regularly review Alzheimer’s Society and FCA recommendations for clients living with dementia.
  6. Encourage more Lonsdale colleagues to become Dementia Friends.  Allan Ross, Lonsdale Services Dementia Champion to present his Dementia Friends talk to new colleagues.
  7. Identify and train one employee to become a dementia specialist from each of our St Albans, Harpenden, Ware, Barnet, Ringwood, Leeds and Stafford offices.
  8. Amend our HR policies for anyone personally affected by dementia or caring for someone who is. 
  9. Review the Dementia Friendly business guide toolkit to support anyone living with dementia.
  10. Write detailed and consistent client notes relating to dementia on our Intelliflo database, so everyone working with a client who is living with dementia understands their personal and unique issues. 


Alzheimer's Society  - united against dementia

Alzheimer's Society - united against dementia

Allan Ross, Dementia Friends Champion, Lonsdale Services

Allan Ross, Dementia Friends Champion, Lonsdale Services

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