It Has Been a Stressful Three Years. How Financial Advisors Plan To Avoid Burnout
The last three years has been challenging for the wealth management industry. The pandemic and two bear markets have added strain to advisors, which could lead to burnout. Barron's asked advisory team leaders how they planned to keep their teams healthy and productive this year. Nancy Daoud of Ameriprise Financial said her team has increased the number of staff-appreciation activities, especially during market holidays, and has engaged with business coaches more frequently to improve skills on how to help clients. "Our biggest learning has been to stay in tune with each team member more frequently and measure where they are in terms of emotional stamina," she said.
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