Financial advisors should be aware that divorced clients are quite different than from those clients who are married, single or simply not going through a divorce according to Joe Cordell’s latest column in Financial Advisor Magazine.
His newest column, “Special Client Issues Financial Advisors Must Address in Divorce Situations,” appears in the July 2014 edition of the magazine.
Mr. Cordell lists concerns like emotional instability, complex finances and an overall feeling or environment of uncertainty.
“While family law attorneys are acclimated to working under these conditions, it may be a shock to the system for a financial advisor unfamiliar with the added pressures,” said Mr. Cordell. “However, if an advisor becomes familiar with performing their tasks throughout the divorce process, it can be a major benefit for both the attorney and the client.”