Amid serious financial adviser concern about the recent number of suicides in their ranks, Money Management has decided to provide funding to services which specifically seek to address depression.
Responding to this week’s warning that there is dark side to the changes impacting the financial advice industry and the reality that more than a dozen suicides have been reported in the wake of some recent changes, Money Management has decided to donate $5 to Beyond Blue on behalf of every financial adviser who attends the upcoming Future of Wealth Management – Advice conference in Sydney. https://fowmadvice.moneymanagement.com.au/
What is more, because the conference is in large part aimed at helping advisers deal with the new post-Royal Commission and Financial Adviser Standards and Ethics Authority (FASEA) environment, Money Management has decided to waive all charges for financial advisers.
Earlier this week, former financial planner and founder of PFM Australia and Alliton Capital, Barry Daniels pointed to the distress being caused by the constant changes to the advice industry and warned of the mental health issues being driven by reform fatigue.
He said these factors were driving many advice practitioners to terminate their careers and exit the industry but that, more worryingly, there had been tragic mental health consequences.