Advisers feeling overwhelmed by change and scrutiny, group says

Newpark chief executive Melanie Purdey said she regularly dealt with advisers who were becoming stressed or depressed.

“We need to give our people a lot more support than just licensing or business development … they are going through a change that is unprecedented for them.”

Many were studying for the first time, sometimes in a language that was not their first, she said. They were also under the regulatory, media and public spotlight and feeling unfairly maligned and overwhelmed.

The group is launching Headspace, an initiative to support advisers’ mental health and wellbeing.