HSBC closes Nursing Homes Fees Agency

HSBC will no longer provide long-term health care advice through its specialist subsidiary Nursing Homes Fees Agency (NHFA), which it is running down towards full closure.

NHFA was purchased in 2005 by HSBC.  Through its small network of advisors it provides specialist advice to a few hundred customers a year on structuring their own finances to meet ongoing care costs.  It is very much a niche market that HSBC sees as a minor niche offering little scope for substantial profit.

Long term care news: 23 June 2011