The UK Financial Services Market as Worldwide Leader - Article Example

Whether a person would like to buy a home, send children to a good school, retire at an early stage or just would like to keep up the lifestyle, planning would increase the probability to meet those goals. According to a recent report, people with middle and upper-income slab, who do financial planning, are able to accumulate twice the wealth of the people who do not do financial planning (Nissenbaum, Raasch & Ratner, 2004). Financial Planning would include savings management, investment management, taxation, and insurance management.

In this report, a discussion about the UK financial services market, the authoritative control held with Financial Services Authority and the people who are the part of this market would help to have a better idea about the market in where the financial planning would get implemented. Later on, this leads to the financial planning of the client. The latter part discusses the profile, risk-taking ability, the current position followed by the recommendation part. At the conclusion, a discussion has been mold towards how the recent financial downturn has let all the regulators and investors feel more need of planning in their respective divisions.

Financial regulators need to have more planning to have more control in the financial regulatory framework; while the investors need to have more financial planning to be more capable to handle the uncertainties in life. Planning will help people to survive in a competitive and unpredictable situation. It would help people to have more control over their financial states.