/ by Don Connelly / Managing the Relationship / 0 comments
Most people suffer from financial stress at some point—whether it’s dealing with high inflation or a volatile stock market. That’s to be expected, and we’ve provided tips on how financial advisors can help “de-stress” their clients.
However, when clients suffer from financial anxiety, it creates a new set of challenges for financial advisors. While stress can make a person worry about their financial situation, financial anxiety can be paralyzing, making it virtually impossible to move your client in any direction.
It’s easy to understand why a client might be stressed about something. Stress is typically triggered by identifiable external factors, such as a plummeting market or job loss. Because it is often tied to a specific event or issue, it usually subsides when the problem is resolved.
However, anxiety triggers are hidden beneath the surface, often with deep emotional or psychological roots. It may not be tied to a specific financial situation. Instead, it’s an emotional state influenced by fears of what could go wrong financially, even when there’s no immediate threat. If you can’t get to the root of the anxiety, you will be powerless to help your client.
Read more
