MetLife launches mental health initiative to support financial advisers
Sydney October 13, 2020
MetLife Australia has today announced the launch of a mental health initiative which includes a suite of tools and content designed to provide ongoing support for financial advisers who are struggling with the challenges facing the industry, the impact of the global pandemic and in some cases declining mental health of clients.
Leading with a video that encourages advisers to seek help, MetLife created the initiative in response to rising concern about the mental health of the financial adviser community. In 2019, suicide amongst financial advisers was 3.25 times higher than the national average, and it is estimated that this number has continued to climb into 2020 by advisor industry associations.
The initiative, launched during Mental Health Month (October), will include a series of webinars, videos, podcasts and articles to help financial advisers recognise the signs of declining mental health in themselves and their colleagues, and know where to go to get help. Aimed at driving a conversation about mental health amongst the adviser community and encouraging them to get help, content will be available ongoing and as needed.
Meray El-Khoury, Chief Retail Insurance Officer at MetLife Australia, said: “We know from our close work with the financial advice industry that advisers are facing significant pressures in the current environment. Not only are they adapting to COVID-19, they’re also dealing with changes that are reshaping the industry.
“In the face of these challenges, advisers need both practical advice – like content that will help them successfully complete the FASEA exams – as well as tools to help them address any mental or physical health concerns resulting from industry pressures.
“While industry bodies like the AFA and FPA are already providing assistance to advisers, we believe that the insurance industry also has an important role to play in ensuring the long-term mental wellness of our financial adviser partners. We have experience supporting our customers through these challenges and it is a natural extension to support advisers as well.”
MetLife’s mental health campaign will cover topics including: acknowledging the challenges facing the industry and identifying how these can impact mental health, commentary from industry leaders, and commentary from people who have experienced first-hand the impact of these pressures on advisers’ mental health.
The new offering also draws on the tools already available through MetLife’s global award winning 360Health program, which provides access to a range of tools that support a holistic approach to wellness.
“Financial advisers are used to providing assistance to their clients – not necessarily reaching out for assistance themselves. We want to help advisers understand they have dedicated support and places they can come to in times of need. With all the stressors facing advisers, we want to be a trusted partner who can give them the tools they need to thrive,” Ms El-Khoury said.
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