With the term financial wellbeing on the rise, Initiative for Financial Wellbeing chair Chris Budd explores when the term should and should not be used in an effort to halt the misapplication of the phrase
Recently we have seen a dramatic increase in the use of the term financial wellbeing. The phrase has been adopted by both the Money and Pensions Service (MaPS) and the Financial Conduct Authority (FCA). It is the title of a new Personal Finance Society video produced with ITN. It has appeared in the marketing for various product providers. Financial advice firms, both independent and restricted, are using it to describe their proposition. It has appeared as a heading in articles about investment management. While it is great to see so many organisations adopting the term, some are ...
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