Financial Turning Points: Relationships, Marriage, and Divorce

Aim: To provide guidance to advisers on how they can suggest ways to relieve financial tension for clients who are in a relationship, married, or divorced.

Outcome: Completion of this module will enable financial advisers to:

  • Understand clients’ financial behaviour and how that behaviour impacts on the type of relationship the clients are in;
  • Help clients who are couples resolve arguments, tensions, and disagreements about their money; and
  • Differentiate themselves from other advisers (including robo advisers) by offering a value-added service of helping clients (who may be in a relationship, married, or divorced) relieve financial tension.

Abstract: Financial tension is one of the top predictors of divorce. How and when financial advisers can start addressing this issue for their clients is discussed. Helpful tips and solutions are provided to assist advisers mediating client disagreements over money. The concept of a freedom fund as an innovative solution is explained, as is how advisers can add value by helping clients have productive arguments over money.