TAL has announced the launch of a series of live and on-demand content to support licensees and financial advisers to manage and enhance their own mental health, alongside their clients’ personal and mental wellbeing, at a time when the advice industry is facing considerable change.
“With the combination of industry change in the advice sector and the current challenges across Australia and around the world, the importance of maintaining mental health has never been more important,” said TAL head of mental health Glenn Baird.
“This significance is magnified when you consider the role a financial adviser plays in the life and wellbeing of their clients — to effectively support the mental health and overall wellbeing of their clients, they must be engaged with their own mental health.”
As such, TAL’s mental health insights and support will focus on helping advisers hone their empathy skills to enable deeper engagement with clients and building greater understanding around the importance of self-care.
“The TAL Risk Academy mental wellbeing courses are designed to inspire positive change by equipping advisers and licensees with the tools and services to adapt to the evolving mental health landscape and start supportive conversations to help them better connect with their clients,” Mr Baird added.
Commenting on the TAL Risk Academy’s latest project, delivered jointly with Lifeline Australia, head of crisis services and quality at Lifeline Rachel Bowes stressed the importance of this topic for advisers and their clients.
“Recognising that the financial advice industry is going through a challenging period, we worked with TAL Risk Academy to develop a course that supports advisers, especially when engaging with clients at a difficult time,” Ms Bowes said.
“Positive communication skills are invaluable when it comes to sensitive topics such as mental health, that’s why we are encouraging advisers and licensees alike to keep up their education and engagement in this space.”
A bit wishy washy really. So now we become the mental health assistant but can’t even bulk bill it. I’m sure advisers will fit this in if they have ten minutes a week available to serve clients, but reviews would have to take priority surely?
Ive done a few roles before, a high up executive in a bank, a bdm, even working on building sites under very hard bosses. These jobs are stressful. But they are nothing compared to this one. Its nice for people to offer help. Talking however dosent actually solve the root causes of our issues. It may help us feel better, however the stresses that cause the issues are still there. Tal could help by lobbying for increased commissions for example. Thats a tangible change. We need more money and less paperwork. At the moment all our costs are increasing and they will continue to do so, amongst all the other stressors this is a big lever too . A tangible change here would be freeing us all from dealerships and giving us better way to register ourselves to practise without the afsl regime. Its not rocket science to make these tangible changes to take stress away and make the job more attractive to us and also to new entrants.
Thanks TAL for some assistance.
Once i have completed:
1. the new FDS disclosure work
2. training for the IDR, DDO and TMD framework
3. my degree educational requirements
4. day to day cpd
5. oops..client reviews…nearly forgot..silly me.
6. compliance
i will be sure to have a look at it.
Seriously, we are all struggling, and do need to make time for ourselves and our mental well being.
But gee it’s hard.
Good luck all.
What’s a client review?
ASIC will define that too…..I think it’s something that happens when your licensee from 7 years ago, asks to see client files from 2011, or they threaten you with legal action…and if you can’t find 10 year old plus client files you’ll have to hand all your revenue back.