I’m slightly confused regarding whats included in Unique needs - could a statement like “the client does not want to lose anything more than 12% in a year” qualify for a unique need or its more like a Risk Objective?
I’d put the loss aversion in the risk objective.
Some of the things that you would find in unique circumstances are:
- A large concentrated asset position, especially one with a low basis
- A strong disagreement between ability and willingness to take risk
- Unusual restrictions on investments (e.g., socially responsible investing, no “sin” stocks)