/ 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.
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Emotional Intelligence in the Workplace: Enhancing Collaboration Among Financial Advisory Teams
/ by Don Connelly / Managing the Relationship / 0 comments
As we’ve posted before, Emotional Intelligence (EI), the ability to understand and manage one’s emotions while being sensitive to the emotions of others, is a critical factor in a financial advisor’s success. Advisors with strong EI are more adept at navigating sensitive conversations, helping clients overcome anxieties, and recognizing underlying fears or hopes that are explicitly communicated.
With sharper emotional acuity, they are able to build stronger and more enduring trust-based relationships.
For those same reasons, emotional intelligence in the workplace is also a critical factor for success. Studies show that teams with high EI outperform those with low EI by up to 20%. While financial advisors focus on building emotional intelligence for client relationships, their role in fostering effective team collaboration is just as vital.
Strong EI within advisory teams leads to improved communication, trust, and resilience—key elements for navigating high-stakes decisions and complex financial strategies. This post explores how financial advisory teams can harness emotional intelligence to enhance collaboration, improve team dynamics, and drive business success.
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