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This 606-word blog post discuss how financial planners can find the balance between clients’ wants and needs. Financial Planning looks at both needs and wants and considers the availability of both. Written on 6 February 2020.
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What is the difference between a need and a want?
At a recent conference run by Distribution Technology, a senior member of the Financial Conduct Authority, Head of Life Insurance and Advice Supervision Debbie Gupta, said;
“Advisers consider what a client wants, but few consider what the client really needs”.
Put simply; needs are something that you must have for survival. Wants, on the other hand, are good to have, but arguably not necessary for survival.
© 2020 · Bamford Media Ltd.
