Six out of 10 financial advisers suffered depression, anxiety, emotional distress or another mental health condition during the Covid-19 pandemic.
Three out of 10 of the PFS members polled online in January 2021 said their mental wellbeing had not been impacted by the pandemic and 13 financial advisers stated they were unsure if they were depressed or not.
Keith Richards, CEO of the PFS, said: “The impact of a global pandemic, and the social and economic restrictions it has brought, have been felt by us all collectively. Financial advisers throughout this pandemic have offered support to clients in vulnerable circumstances.
“To continue to support clients it is vital that financial advisers recognise and address their own mental health needs.
“To help our membership think about mental health as a component of their overall health, the Personal Finance Society has launched a mental wellbeing hub where they can find information about how they can care for themselves as well as their clients.
“To ensure clients in vulnerable circumstances are consistently and fairly treated, we have also launched the Financial Vulnerability Taskforce. Further educational material and insight relating to supporting clients in vulnerable circumstances will be produced by the taskforce’s steering committee.”
To find out more about the Financial Vulnerability Taskforce visit: www.fvtaskforce.co.uk