Keeli Cambourne / IFA
Financial advisers need to understand the mental health of their clients as well as themselves while economic uncertainty grows, warned a leading industry figure.
Bryn Evans, private wealth adviser at Integro, told SMSF Adviser that over the past 12 months, many advisers grappled not only with addressing rising interest rates and inflation in delivering optimal client advice but also with supporting their mental health.
“We have seen that there is also a need for advisers to have a strong understanding of the emotional impact that the economic conditions are having on clients,”
“From our own experience, we are finding that clients across the income spectrum are lacking confidence, and feel they are not competent in making financial decisions, and advisers must understand their situations and work through their psychology around money.”
