Financial services seek mental health training the most


Over 80% of mental health and wellbeing training session delivered by SuperFriend over the last three months were for staff in the financial services sector.
The workplace mental health and wellbeing organisation said there had been an increased demand for its training amid the COVID-19 pandemic.
The top industries that sought support for their employees were financial services, government and energy.
SuperFriend noted the Productivity Commission said mental health cost Australian workplaces $17 billion a year and estimated that one-in-five Australians experienced a mental health condition in any year and over their lifetime.
SuperFriend chief executive, Margo Lydon, said: “The pandemic is testing the mental health of Australian workers through ongoing challenges; changes to their work, whether through reduced hours or being laid off, working remotely or behind protective equipment, and job insecurity or financial stress.
“In a short space of time, there has been an increase in anxiety around physical safety and fear for loved ones, along with a decrease in financial and job security. On top of this, forced isolation means withdrawing from our usual social networks, exacerbating loneliness and often worsening existing mental health issues.
“It’s more important now than ever to talk about mental health, especially around the challenges we're all experiencing.”
Recommended for you
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
New Zealand’s financial regulator is following the footsteps of its Tasman neighbours and proposing to conduct a review on improving the accessibility of financial advice and advice business models.