Aged Care Masterclass – 5 Part Series

$550.00 Excl. GST

SKU: 12628 Category:


You are invited to a special masterclass series on aged care, tailored specifically for those who understand the complexities of aged care legislation and the considerable costs involved, as well as the stress it can bring to families.


At the Institute of Financial Professionals Australia, we recognise the vital role our members play in building trusted relationships with their clients and supporting them in making strategic financial decisions. Aged care decisions are no exception. When clients and their families face the daunting task of navigating the aged care system and making informed choices, they often turn to their accountant for guidance.


This masterclass series aims to equip you with the knowledge and tools necessary to provide expert advice and support to your clients in the realm of aged care. Through this series, you will gain valuable insights into the complexities of aged care legislation, understanding the financial implications involved, and learning how to assist your clients in accessing the appropriate services.


Key topics that will be covered in the masterclass series include:

  • The need for good aged care advice
  • How to get aged care business ready
  • Aged accommodation choices
  • Residential aged care


By participating in these masterclasses, you will enhance your expertise in aged care, enabling you to provide comprehensive guidance and support to your clients during this critical time. You will have the opportunity to connect with industry experts, share insights, and expand your professional network.


Details of the masterclass series are as follows:

Masterclass 1
The need for good aged care advice

This module will address the factors driving the growing demand for aged care advice and challenge advisers to consider the impact of these developments on their client base and advice service model.  It will address the following:

  • Demographic developments shaping the growing need for aged care advice including the ageing of the population over the next 30 years, proportion of disability years in retirement, changing patterns of disease (increasing levels of chronic disease) etc.
  • Demand by older Australians for control of how and where they live, increased preference for independent living and control over the type and quality of care that suits their standard of living.
  • Indication of aged care costs – the next major financial decision after retirement.  Complexity for clients driven by shifting government policies and greater commercialisation in aged care services/options.
  • How to incorporate aged care considerations when planning for retirement.
  • Other factors including greater levels of affluence, reduced access to carers and family support


Masterclass 2
How to get aged care business ready

This module will address:

  • Licensing, compliance and the interaction between aged care advice and the Corporations Act.
  • Business models for aged care advice and decision steps to create an implementation plan for to be business ready – including business processes, service proposition, pricing models and conversation skills.
  • Guidance on developing a marketing and communication plan to implement aged care services
  • How aged care advice supports requirements under the Financial Planners and Advisers Code of Ethics and the Retirement Income Covenant
  • Lessons from advisers who have been down this path and tips for a successful outcome


Masterclass 3
Aged accommodation choices

This module will provide an overview of the accommodation choices for meeting aged care needs based on a client’s financial situation as well as their personal preferences, desired lifestyle and physical needs. It will include:

  • An outline and comparison of accommodation options including private homes, retirement villages or assisted living units and residential aged care
  • Home care access and considerations
  • Practical and financial considerations to compare and select an appropriate option.


Masterclass 4
Residential aged care

This module will provide an overview of residential care.  It will include:

  • An understanding of the terms used in residential care such as RADs and DAPs
  • The fee structure for residential care
  • Strategies for funding accommodation costs and ongoing fees in residential care
  • Impact of decisions on Centrelink and estate planning outcomes


Masterclass 5
Aged care conversations with clients

This module will address the following:

  • Introduction on how to introduce the aged care conversation with existing and new clients, professional referrers, and the community in general.
  • How to identify when a client needs aged care support.
  • Tips on how to conduct the first aged care meeting to ensure that the client agrees to proceed and pay for the aged care services.
  • Insights into how aged care advisers introduce aged care to their clients and tips on what works and how they conduct their first introductory meeting with clients.

Recorded on August and September 2023
Presented by Aged Care Steps


TPB CPD Hours: 5 hours
Legislated CPD Hours:
Masterclass 1 – 0.50 hours in technical competence, and 0.50 hours in client care and practice
Masterclass 2 – 0.50 hours in regulatory compliance and consumer protection, and 0.50 hours in client care and practice
Masterclass 3 – Technical competence: 1 hour
Masterclass 4 – 1 hour in technical competence
Masterclass 5 – Aged care conversations with clients