FPA Teams Up with bQuest to Enhance Financial Planning for Aging Population

FPA and bQuest Join Forces for Longevity Planning

In a groundbreaking partnership, the Financial Planning Association (FPA) has aligned with bQuest, a prominent provider of longevity services, to elevate the skill set of financial planners. This collaboration aims to address the significant and growing needs of an aging population, where over 63 million Americans are currently caregiving for elderly family members, according to AARP and the National Alliance for Caregiving. With a substantial number of households juggling the complexities of caring for their elders, financial planners play a crucial role in providing essential support during this transition.

The Longevity Planning Foundations Program

FPA's newly launched Longevity Planning Foundations Program is designed as an educational resource that equips financial planners with both strategic frameworks and practical tools. With the retirement span now potentially stretching across multiple decades, the financial landscape for families is evolving. The program seeks to widen the scope of conversation around financial planning, encompassing multifaceted aspects such as health, housing, caregiving, legal readiness, and legacy planning.

Dennis Moore, CEO of FPA, emphasizes the importance of recognizing the financial and emotional burdens faced by families involved in caregiving. He asserts, "The financial and emotional toll caregiving has on millions of American families is substantial and must be incorporated into the comprehensive financial planning process." By facilitating these crucial discussions, the program aims to prevent adverse effects on future generations' financial well-being.

The Longevity Planning Foundations Program is constructed around five key pillars of readiness: Health, Home and Community, Family and Support, Legal and Legacy, and Financial aspects. Through the study of real-life case scenarios spanning a decade, participants will explore pivotal life decisions while receiving insights from certified financial planners and experts in the field.

Benefits of the Program

Once they complete the program, financial planners will acquire tools to pose insightful questions to their clients and develop longevity-focused plans before crises emerge. Moreover, they will learn how to incorporate longevity considerations into annual planning while establishing prioritized next steps, including an opportunity to conduct a longevity readiness assessment.

Lauren Clough, the CEO of bQuest, remarks on the unique capability of financial planners to guide families navigating the challenges and opportunities associated with longer life expectancies. She states, "Longevity planning builds on the trusted relationships advisors already have, bringing greater awareness and intention to the health, housing, caregiving and family decisions that inevitably intersect with financial well-being."

The program is structured to be flexible, allowing participants to learn at their own pace. Instruction led by Lauren Clough is complemented by veteran financial professionals, ensuring a robust educational experience.

Financial planners seeking continuing education credits can earn four (4) CFP CE credits upon completion of the program, currently available to FPA members for $199 and to non-members for $299. An informative webinar on the program is scheduled for November 18, providing prospective participants with more details.

For more information about the Financial Planning Association or to join, visit financialplanningassociation.org. This initiative marks a significant step towards integrating longevity planning into the standard financial planning framework, enhancing the support financial planners can provide to their clients during critical life stages.

About FPA and bQuest

The Financial Planning Association (FPA) stands as the leading organization for CERTIFIED FINANCIAL PLANNER professionals, promoting their success through practice support, advocacy, and educational opportunities. On the other hand, bQuest specializes in technology-driven platforms that support financial advisors in navigating the challenges of aging and caregiving, ultimately fostering trust and loyalty among clients across generations.

Embracing this partnership is not just a step forward for the financial planning industry but a response to the deep-seated needs of families navigating the challenging waters of caregiving and planning for future generations.