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Adviser/Client relationship – Establish proper emotional boundaries to safeguard yourself

In a recent Advisor Perspective article, the role of caring and the importance of clear boundaries in professional relationships are highlighted, with specific reference to the financial adviser – client relationship.

The writers emphasise that their experience have revealed that most advisers get into the adviser business and stay in it because they want to help their clients. “In normal markets, advisors can find it challenging to manage the number of human interactions that are necessary to successfully run a business. During volatile times and economic displacement, the needs of clients can be overwhelming.”

It is highlighted that investors face two challenges during difficult times.

Firstly, they must embrace and process strong negative emotions. Secondly, patience and self-discipline are needed for success and this type of self-control can be painful. When a client has difficulty managing emotions and making disciplined decisions, an adviser can get caught in the middle, where some clients will even blame the adviser. How do you stay sane in just an environment and continue to be of value to your client?

The article recommends a few ways to establish proper emotional boundaries and better care for yourself:

Pay attention to how you feel when talking with clients
Focus on the quality of your advice and not your clients’ actions
Remember that you’re a resource; you’re not responsible for saving clients from themselves

Click here to access the article that further unpacks each of these tips.

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