Trusted Aged Care Financial Advisors Melbourne
✓ Trusted Aged Care Financial Advisors
✓ CFP®, FAAA, SMSF Specialists
✓ Transparent, commission-free support
Why Choose Progressive Financial Solutions?
Transitioning a loved one into aged care is emotionally challenging enough without the added stress of complex financial decisions. At Progressive Financial Solutions in Melbourne, our aged care financial advisors remove the financial uncertainty so you can focus on the caring of your loved one.
As Accredited Aged Care Specialists, our team brings deep expertise in navigating accommodation costs, ongoing fees, Centrelink entitlements, and asset preservation strategies. We’re fully licensed and accredited advisors (CFP®, FAAA, SMSF Specialists) who liaise directly with Centrelink and aged care facilities on your behalf, removing the administrative burden during an already difficult time. We provide clear, personalised advice that considers both your loved one’s financial position and their personal preferences.
Our Aged Care Financial Planning Process
Aged care financial planning requires careful consideration of costs, cash flow, and long-term asset protection. Our structured five-step process provides clarity and support throughout your loved one’s aged care journey.
At Progressive Financial Solutions, our aged care financial advisors provide structure, reassurance, and practical guidance every step of the way.
1. Consultation
An obligation-free first meeting to understand your loved one's personal and financial position and care requirements.
2. Financial Review and Education
A detailed review of assets, income, and expenses, along with clear education on aged care costs and funding options.
3. Strategy Development
Tailored strategies covering accommodation costs, ongoing fees, Centrelink entitlements, and asset preservation.
4. Implementation
Clear guidance on implementing your aged care financial plan, including support with Centrelink applications and property decisions.
5. Ongoing Support and Reviews
Premium ongoing financial and Centrelink support throughout your loved one's time in care, with regular reviews as circumstances change.
What We Can Do For You
- Help you understand aged care costs and funding options
- Maximise your loved one's pension entitlements
- Ways to reduce ongoing Aged Care funding costs
- Liaise directly with Centrelink and aged care facilities
- Preserve assets and manage cash flow throughout residency
Our Personal Insurance Solutions
Aged care planning is about ensuring your loved one receives quality care while protecting their financial security. Our Melbourne-based financial advisors provide aged care planning focused on your family’s unique circumstances.
Aged Care Cost Understanding:
Clear explanation of accommodation costs, daily fees, means-tested care fees, and how to fund them effectively.
Accommodation Payment Strategy:
Expert advice on whether to pay via Refundable Accommodation Deposit (RAD), Daily Accommodation Payment (DAP), or a combination approach.
Cash Flow and Fee Minimisation:
Advice on managing ongoing expenses, minimising means-tested care fees, and ensuring sustainable cash flow throughout residency.
Property and Asset Decisions:
Guidance on whether to sell or rent your loved one’s home, timing considerations, and how property decisions impact fees and entitlements.
Centrelink Entitlement Maximisation:
Strategies to maximise Age Pension and other Centrelink benefits while your loved one is in care. We liaise directly with Centrelink on your behalf to streamline the process and increase pension entitlements.
Asset Preservation and Estate Planning:
Strategies to preserve your loved one’s assets over time while being considerate of their estate planning wishes.
Hear What Our Clients In Melbourne Have To Say
Meet our team
Joe Formica
Principal Advisor
Joe Formica
Principal Advisor
Paul Formica
Provisional Financial Advisor
Paul Formica
Provisional Financial Advisor
Cherrinee Lee
Practice Manager
Cherrinee Lee
Practice Manager
Jessica Pritchard
Client Service Officer
Jessica Pritchard
Client Service Officer
Mary Efsthatiou
Administration Assistant
Mary Efsthatiou
Administration Assistant
Explore Our Aged Care Financial Planning Insights and Advice
Frequently Asked Questions
How do you charge for your services?
We don’t take ongoing commissions, and there are no hidden costs. Our fees are transparent and based on the level of advice you need. During your initial consultation, we’ll clearly outline the costs involved, ensuring there are no surprises before you proceed.
What can I expect from the first consultation?
Your first consultation is a chance for us to understand your loved one’s situation and care needs. We’ll review their financial position, explain how aged care costs work, and discuss possible strategies. We’ll also provide a clear breakdown of potential costs, so you have a full understanding from the start.
What's the difference between a supported and non-supported resident?
A supported resident receives financial assistance from the government to help cover accommodation costs, based on their assets and income. A non-supported resident has assets and income above the threshold and pays the full accommodation price set by the facility.
How can you help maximise Centrelink entitlements?
We analyse your loved one’s assets and income to identify strategies that optimise their Age Pension and other entitlements. This includes advising on accommodation payment methods, property decisions, and asset structuring, while ensuring they receive quality care and maintain appropriate cash flow.
What ongoing support do you provide?
We provide premium ongoing financial and Centrelink support throughout your loved one’s time in care. This includes regular reviews, assistance with Centrelink reporting requirements, and adjustments to the strategy as circumstances change.
Take the First Step Toward Confident Aged Care Planning
Understanding aged care costs and funding options can feel overwhelming. Book your obligation-free consultation today and we’ll help you navigate the decisions, clarify your choices and plan with confidence.
Contact Us
Call: 03 9600 9052
Email: enquiries@progressivefs.com.au
Office: Suite 28 / 2 Enterprise Drive, Bundoora VIC 3083
Opening Hours
Mon–Fri: 9:00 AM – 5:00 PM
Sat–Sun: Closed