Opioid addiction has become a part of financial planning whether we like it or not. This scourge has the ability to demolish even the most meticulously crafted financial plan. While the 21st century is filled with wonderful opportunities, there is a dark underside.
Highly addictive drugs called opioids have become far too common in our society. Unfortunately, financial advisors on the front lines of dealing with this issue have very little training to combat this beast.
The InvestmentNews just came out with a comprehensive piece on this growing problem. They used the perspectives of victims, advisors, and legal counsel to help chart a course to help all of those suffering from this deadly affliction.
I was privileged to be part of this epic project. Greg Iacurci, Elizabeth MacBride and their video crew worked tirelessly to tell a story that needs to be told.
Many financial advisors receive a bad rap for not looking out for their client’s best interests. Here is a way to atone for this and help solve one of the biggest problems of the 21st century.
Not only is this the right thing to do, it is also very smart business.
That said, those who do support their clients through such a crisis are likely to gain the trust and loyalty of that client for years to come. “If you help them get through this, clients won’t care that the Dow fell 20%,” said Anthony Isola, a financial adviser at Ritholtz Wealth Management.
Please take the time to read these articles and watch the accompanying video. It just might be the most important thing you did all day.