Advisor consensus: 'We're overworked'

Advisor consensus: 'We're overworked'

Advisor consensus: Overworked seems to be the consensus among independent and bank financial advisors, alike.

The feedback comes in response to a WP article reporting upon the recent spree of suicides on Wall Street, citing stress endured from long hours and unrealistic performance expectations as a potential trigger.

“Sad to hear this,” wrote one reader, who identified herself as Freeda. “I'm currently looking to give up being an independent financial advisor and just taking a job with a financial institution. The 24/7 for the past seven years is enough.”

Freeda went onto explain how having a home office breaks down the boundaries between the client and advisor. She says clients feel free to “drop by” her home in off-hours to discuss their portfolios, as she’s become their “go-to person for just about anything.”

“I'd like to have my house as just my home again. I'd like to have some time where it is just mine and not running to check emails and phone messages as soon as I'm out of a meeting,” she wrote.

The article further explored how firms, both in Canada and the U.S, are responding to the high demands of this career, by implementing new measures to alleviate stress including cutting back or eliminating weekend work and implementing task forces to help employees establish a work-life balance.

In Canada, BMO is encouraging its employees to leave the office to handle their personal lives, while requesting senior staff cease assigning work beyond 2 p.m. on Fridays.

Another unidentified WP reader is skeptical of these efforts: “Highly doubt that BMO employees have been made aware of this message in this article. Too many people working WAY more than their regular hours.”

Related Articles:

Advisor claims workload led to breakdown

Canadian firms respond to suicide spree