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Summary

Financial advisers help at all stages of life in different ways but certainly, there is no time that an adviser is more beneficial than in times of grief. Grief, whilst most commonly associated with death, is just as prevalent in situations of expected and unexpected illness, financial and employment stress and retirement. Whilst not a popular topic of discussion between clients and advisers, it is essential, as to give you the best possible outcome in times of uncertainty.

Content

Financial advisers help at all stages of life in different ways but certainly, there is no time that an adviser is more beneficial than in times of grief. Grief, whilst most commonly associated with death, is just as prevalent in situations of expected and unexpected illness, financial and employment stress and retirement. Whilst not a popular topic of discussion between clients and advisers, it is essential, as to give you the best possible outcome in times of uncertainty.

When confronted with times of grief, would you have enough money set aside to cover your day-to-day expenses and look after your family? Your financial adviser is there to walk alongside you and create an approach to serve your best interests, during this time.

Be open to communication

The client-adviser relationship is a highly unique one. How many professions see the expert knowing their client’s values, vision, family, history, aspirations and dreams, health and everything on their balance sheet as well? It is for this purpose that advisers cannot sideline the grieving process and be the one to simply ‘pass the tissues’. Engage and recognise the situation with your adviser, they have a grieving client walk into their office far more often than you may think. They are there to best serve your needs, listen with genuine interest and not shy away from the tough conversations.

  1. Let go of time expectations

As an individual experiencing grief, we often feel a lack of control as logical reasoning and elaboration goes out the window. Advisers are there to help regain control, guide and not tell you what to do or feel. This may mean that advice today may be better implemented in a week or month, as to dispel ambiguity and regain clarity.

  1. Do not shy away from honest expression

A spectrum of dealing with grief is typically discussed and how men and women generally fall along it. Men have an ‘instrumental approach’, as they reason with facts, figures and details when making decisions through grieving. This is juxtaposed in women who are more ‘intuitive’, focus on the big picture and want to talk with others to get through. Remember that your adviser sits somewhere on this spectrum also and that our raw emotions often convey what words cannot.

  1. Share stories and history

The client-adviser relationship can span over many years and it is inevitable that transitions and change come along with time. Financial advisers that know you and your loved ones can help counterbalance the weight of your loss, with the weight of your gratitude for what preceded the loss.

Regardless if advisers are aware of the situation or not, it is encouraged to share stories and memories. For you it is important to remember that advisers are extremely comfortable with silence and skilled at being present and understanding without judgement. They are there to add value to your life, which inadvertently includes not only your financial position, but you and your family’s emotional wellbeing.

https://www.zurich.com.au/news/life-stories/2017/how-to-help-a-loved-one-or-close-friend-through-the-grieving-process.html