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Press comment: Social care get's cursory mention, but green paper still an illusion


If you’re covering the Chancellor’s announcement that social care will be included as part of the upcoming spending review, please see the following comment from Rachael Griffin, tax and financial planning expert at Quilter:

Rachael Griffin“The Chancellor’s words were as reliable as a weatherman’s with the forecasts and announcements having the potential to be blown away overnight depending on whether a Brexit deal is sorted. Gratefully social care got a cursory nod as the Chancellor announced a three year spending review to be published alongside the next budget. Having a clear vision on how much the government is willing and able to spend on social care will enable policymaking. At the moment all we have is an illusory green paper that seems to be a figment of our imagination, and even when it’s produced, it will be a series of ideas, rather than a concrete plan of how we are going to deal with the colossal challenge of funding long term care.

“Government need to produce clear guidelines on how much the state will contribute towards a person’s long-term care and how so the wealth management and insurance industry can create products that will help remove the rest of the uncertainty. The weight of the concern of being able to pay for care should not be underestimated.”

For more information contact

Kathleen Gallagher023 8072 629307990

Notes to Editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.4 billion in investments (as at 30 June 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.