My entry into specializing in financial planning for individuals with special needs and their families began naturally through personal connections. My wife is a special education teacher, and through her, I found myself getting questions from her students’ parents. I quickly realized that this wasn’t a topic I had strong knowledge in, but I wanted to help this vulnerable part of my community and help them answer the tough questions. That started my journey into deepening my knowledge so that I could truly meet their financial planning needs.

Today, my practice is focused on two main groups. One includes families with children diagnosed early in life with conditions like autism or Down syndrome, and the other involves individuals diagnosed later—often with mental health issues or cognitive decline—whose families need guidance navigating complex financial decisions. If you are interested in serving this community in your practice, here are some of my key tips for setting yourself up for success.

1. Deepen Your Knowledge

Financial planning for individuals with special needs and their families is next-level financial planning. It requires a genuine commitment to the field and demands deep knowledge because you are serving vulnerable populations who depend on accurate, comprehensive advice.

When I first got started, I initially revisited my CFP^® prep materials, but the related content was limited to only about a page and a half. I sought out more specialized education and found the Chartered Special Needs Consultant (ChSNC^®) designation offered by the American College of Financial Planning. Pursuing this designation significantly expanded my knowledge not only in the financial planning aspects but also in the legal, tax, and social considerations unique to this field. It helped me understand important topics like people-first language, the nuances of various disabilities, and the mental health challenges that often intersect with special needs planning.

Joining a professional organization for planners who specialize in special needs situations is also beneficial. I’m a member of the Academy of Special Needs Planners, which offers opportunities for continuing education, networking, and practice development.

2. Tailor Your Planning Strategy

The basics of financial planning remain, but specializing in this field means adding a layer of tailored strategies and considerations that address the unique circumstances of your clients. One key difference is that, in addition to Medicare and Social Security, you’re adding Medicaid, SSDI, and other state-specific benefits to the equation. These additional benefits require special attention and knowledge, but they are essentially extensions of the usual planning process.

You’ll still be looking at legal planning strategies and educational planning—especially important if, for example, a child with an autism diagnosis is considering university. They may choose a school with the right support in place, which can influence financial decisions. The overall cost might be similar in either case, but the details of how funds are allocated and managed differ slightly.

There are also practical considerations that your experience working with this community will reveal. For example, if caretakers frequently come and go at the home, property and casualty insurance limits need to be reviewed carefully. The increased foot traffic raises the risk of accidents, so insurance coverage has to reflect that reality.

Emerging issues such as early-onset Alzheimer’s and dementia in individuals with special needs are also creating new challenges. Late-term special needs planning now increasingly includes estate planning and preparing to qualify for Medicaid in the event of extended nursing home care, which can last several years. Awareness of these evolving needs allows financial planners to stay proactive and offer the right guidance as families face these complex realities.

3. Leverage Your Technology to Its Fullest

Financial planning technology is an invaluable tool for me. The complexity of these family situations—often involving multiple individuals, benefits, legal components, and long-term care considerations—makes having a comprehensive platform essential. A robust financial planning system allows you to gather and integrate the entire financial picture of not just the individual with special needs but their family members as well.

Key features to look for include secure document storage and the ability to collaborate seamlessly with other professionals, such as attorneys and accountants. With appropriate client permissions and adherence to privacy laws, inviting these trusted partners to have visibility ensures coordinated planning and up-to-date information sharing. This collaborative environment helps create more thorough, accurate, and actionable plans.

Importantly, the platform should be used to its full capability—not just for data aggregation or importing documents, but as a dynamic workspace to monitor the evolving needs of the family, address legal and benefits issues, and maintain an interactive, holistic plan.

4. Cultivate Your Referral Network

Building a strong referral network with other experts, such as legal professionals, accountants, trust companies, and social workers, is essential. But developing these relationships requires effort—it’s not something you do passively. You have to cultivate and nurture your Centers of Influence (COIs) consistently. Staying connected means ensuring everyone in your network is up to date on the ever-changing landscape of special needs planning. Without this ongoing engagement, referrals can dry up and, even worse, you risk sending or receiving poor referrals that could damage your professional reputation.

5. Consider Your Fee Structure

While you might be used to requiring a rigid account minimum or getting planning fees of $2,500 or $10,000, not all of the families in need of help will meet that minimum, and there are times when families are under significant financial strain. Flexibility and compassion in your fee structure can make a meaningful difference for families facing tight budgets.

You might need to adapt your service model, which could mean offering monthly retainers or one-time financial plans instead of traditional full-service packages. In some cases, there may be an opportunity to do your good deed for the day by offering discounted rates or adjusting fees—especially if you’re also providing other services like life insurance.

You can also be an integral part of your community by connecting people with the help they need, even if they can’t afford your services. Maintaining an up-to-date resource page with local contacts—such as The Arc, Medicaid offices, benefits centers, and other support organizations—can be invaluable. Offering these resources ensures that no matter someone’s financial situation, they have a place to turn and will still receive guidance and support. Being known as a trusted resource not only helps those in need but also strengthens your reputation and referral network within the special needs community.

6. Have a Succession Plan

Practices specializing in special needs planning have unique succession planning challenges. These practices are highly specialized, and selling your advisory business without a trained successor can be incredibly challenging. You can’t simply hand off your clients to just anyone in your home office; they require someone who truly understands the unique complexities that their situations involve.

Growing a specialist internally is often the best solution, ensuring continuity of care for your clients and preserving the trust you’ve built. Without a solid succession plan, both your clients and your practice risk disruption when you decide to step away. Prioritizing succession planning means your clients will continue receiving knowledgeable, compassionate service, even after you’re gone.

Making a Difference

Specializing in financial planning for individuals with special needs and their families is an opportunity to be a trusted advisor for a vulnerable community that often faces unique challenges. You don’t have to be perfect or have all the answers upfront—you just have to be willing to dig in and make a difference. Even starting small, like helping families figure out whether long-term care insurance makes sense, will add huge value.

Check out my blog, “Delivering More Value Through Niche Financial Advice,”  to get more advice on becoming a niche financial professional.

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

The views and opinions expressed by this blog post guest are solely those of the guest and do not necessarily reflect the opinions of eMoney Advisor, LLC. eMoney Advisor is not responsible for the content, views or opinions presented by our guest, nor may eMoney Advisor be held liable for any actions taken by you based on the content, views or opinions of the guest.

Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Additional advisory services offered through Anthony Petsis & Associates, Inc. Osaic Wealth Inc., is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.  Osaic Wealth, Inc., does not offer special needs services.

Registered Advisory Services also offered through Anthony Petsis & Associates an independent Registered Investment Advisor.

Third party awards, rankings, and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation.

Please be advised we are unable to accept any buy or sell orders via email as we cannot assure execution in a timely manner.

Osaic Wealth, Inc. and Anthony Petsis & Associates are not affiliated.

You may also be interested in...