A recent survey conducted by the FINRA Foundation and Fontes Research underscores the significant impact of financial stress on various aspects of clients' lives, including health and relationships. With concerns about money being pervasive across income brackets, advisors must adapt to address clients' emotional needs while managing their financial goals.

Financial Planning recently shared that wealth managers can use new skills, certifications, and business models to respond to unexpected client stress. Certifications like the Certified Divorce Financial Analyst (CDFA) designation are gaining importance, especially with the rise of "gray divorce" among older couples. By equipping themselves with relevant expertise, advisors can enhance their credibility and better serve clients navigating challenging life transitions.

However, the article cautions advisors that they also must reevaluate their business strategies to retain clients, particularly as affluent individuals are willing to explore new advisory relationships.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they
make.