Financial Adviser, 26 July 2001
What the media says
AN IFA has recruited the services of a psychologist to help clients overcome the guilt of having too much money.
The Allenbridge Grou's 'Affluenza and Wealth Service' works with clients to help them understand and tackle the headaches caused by having a lot of money.
Dr Ronit Lami, a personal development psychologist, insisted "affluenza"- the inability to handle wealth - is not to be sneezed at.
Depending on the symptoms Dr Ronit will recommend counselling, hypnotherapy or practical exercises such as designing charitable projects.
She said: "Making or inheriting a large sum of money creates emotional and social challenges. These may cause anxiety or depression."
Dr Lami is convinced of the demand for such a service although she has only treated two of Allenbridge's clients so far.
She pointed to a recent survey of Forbes Magazine's top 400 richest, which indicated 37 percent of the sample was unhappy. She said: "There is a surprisingly high percentage of high-fliers who suffer guilt and shame from earning so much. It is a widespread problem in the US but seems to be contagious and catching in the UK."
The service also looks at how to organise one's inheritance without upsetting loved ones.
Anthony Yadgaroff, chief executive of Allenbridge, said: "Having served private clients for 15 years, we know how and why these problems are caused, and we have the expertise to help people solve them."
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