What is the Later Life Lending Advice Standard? 

Equity Release Advisers can now undertake the SOLLA Later Life Lending Advice Standard. This externally accredited award demonstrates an adviser's understanding regarding client care that support older and potentially vulnerable clients. Achieving the standard helps reassure clients, professional connections, and other trusted consumer organisations the adviser has reached a higher standard of advice skills and applied knowledge.

This externally accredited award will enable you to demonstrate a better understanding regarding client care and the advice skills that support older and potentially vulnerable clients. 

The LLLAS award aims to evidence the adviser has: 

  • Regulatory qualifications and permissions, and is actively providing Equity Release advice
  • Ongoing CPD relevant to Later Life Lending advice
  • An understanding of the additional needs and considerations required when delivering advice to older and vulnerable clients and the longer-term impact of advice given
  • An understanding of the potential physical and cognitive limitations that may affect the way advice is delivered, the importance of good interpersonal communication and engagement skills
  • Completed and passed the Later Life Lending Advice online training and assessment

You will recieve 1.5 hours CPD for completing the learning resource and assessment. 

Minimum requirements 

​In order to apply for the Later Life Lending Advice Standard, you must: 

  • ​Be qualified and have the requisite FCA permissions to give Equity Release financial advice 
  • Be actively advising on equity release
  • Undertake training covering advising older and vulnerable clients

The standard

The standard is consists of four parts: 

LLLAS Standard One - Technical knowledge 
Evidence of appropriate regulatory Later Life Lending mortgage and Equity Release qualifications and regulatory permissions, plus evidence of consumer vulnerability training. 

LLLAS Standard Two - Work within a supportive environment
Evidence of a ‘supportive environment’ in order to resource and maintain ongoing knowledge, and evidence of their Older and Vulnerable client care procedures.  

LLLAS Standard Three - Maintenance of Competence 
Evidence of ongoing CPD related to later life lending.

LLLAS Standard Four - Application of Knowledge and Soft Skills
Completion of the online training resource material and passing a final assessment. 

Find out more about the standards  

Benefits for standard holders 

SOLLA support with a range of benefits and resources to help advisers stay up to date and connected with later life advice: ​

  • A clear demonstrattion of having achieved a higher standard with the SOLLA LLLAS badge and designation
  • Your details will be available on the SOLLA LLLAS website
  • Use of the SOLLA LLLAS logo for your marketing purposes
  • Regular newsletters, communications, information, press releases and updates about the later life market, including industry and legislative updates, social care, health and welfare issues
  • Access to specific training courses on older client matters, at preferential membership rates
  • Access to your local regional SOLLA network and the LinkedIn discussion forum, giving support from peer group
  • Access to the members' area of the SOLLA website, giving details about your membership, and other useful documents and information

Ongoing responsibilities

  • Maintain your later life lending technical knowledge by evidencing you relevant CPD annually
  • Adapt your advice and communication processes for older and vulnerable clients allowing for any potential physical and cognitive limitations that may affect the way advice is delivered
  • Inform SOLLA of any change of firm details
  • Renew your LLLAS licence annually

Application process 

To apply for the SOLLA Later Life Lending Advice Standard: ​

Complete and submit the application form - you can save this as and return to it before submitting

Your application will be subject to an administrative review to ensure that the documentation and information supplied is satisfactory  

Online resource material and assessment
Providing your application is satisfactory, you will be sent a link to the LLLAS online training module, which includes resource material to read, and a multiple choice assessment to complete. This will take around an hour to complete and you must complete this within two weeks of issue. 

Once you have passed the online assessment you will have achieved the SOLLA Later Life Lending Advice Standard. You will be sent confirmation of your achievement within two working days, and your badge and certification will follow shortly. 

Application fees 

Initial application: £200 plus VAT

Annual renewal:   £150 plus VAT 

Accredited SOLLA members will need to pass the LLLAS online assessment to be awarded the standard, at the reduced cost of £50 plus VAT, as a member benefit, subject to eligibility. The annual renewal fee for Accredited SOLLA members will be £40 plus VAT.