Downward Mobility

Anger Management

Battered wealth advisors turn to shrinks

Once-rich clients are angry at those who didn’t warn them of the financial meltdown and they are letting it show. They are “angry over the losses. They are angry at the bad financial advice. They are angry over the high fees, the product-pushing banks, the SEC, IRS and DOJ investigations and complex investments no one understood until they blew up.” The result is a lot of stressed wealth advisors who are going in record numbers to lay on psychiatrists’ couches to let out their frustrations. “Yesterday I talked with a wealth advisor who said her firm had hired a psychotherapist specializing in trauma and life shocks,” writes Wall Street Journal blogger Robert Frank. “ ‘For clients?’ I asked. ‘No for the advisors,’ she said. ‘We’re getting screamed at and verbally abused every day by our clients. We need therapy.’”