Singapore is often seen as one of the world’s leading financial centres, with a high-income economy and top-tier facilities for education, healthcare, and innovation. However, this success does not come without its challenges. The nation has one of the highest rates of stressed adults globally, standing at seven percentage points above the international average.

Financial advisors in Singapore face their fair share of stress too. In a profession often focused on numbers and outcomes, it is easy for advisors to overlook their mental wellbeing while pursuing professional goals. However, understanding and addressing these stressors is crucial for building a sustainable career that does not come at the cost of one’s personal well-being.

Here are some suggestions on what you can do to manage common points of stress faced by professionals in the industry.

Create financial stability amid fluctuating income

With the cost of living being the top concern for Singaporeans, financial advisors are particularly affected due to the reliance on sales-based income, which results in irregular monthly earnings. This unpredictability can create significant financial anxiety, especially when personal expenses remain constant or increase regardless of commission fluctuations.

However, having an irregular income does not have to mean financial instability. By setting aside funds during these higher-earning periods, you can “pay” yourself the difference during leaner months.

Joanna Chan, a five-year MDRT member from Singapore, shares her experience: “One of the most significant shifts when I started was adjusting to not having a fixed monthly pay cheque. It was scary at first. But I quickly realized that I had to treat this like a business. That meant being more intentional with budgeting, tracking my cash flow, and building a buffer for slower months.”

This approach transforms your advisory practice into a sustainable business model while reducing the financial stress that comes with income uncertainty.

Take rejections less personally

Rejections can trigger several difficult emotions, including guilt, shame, social anxiety, embarrassment, sadness and anger. Yet, rejections are part and parcel of the profession, especially when advisors are building their client network. From roadshows in malls to door-to-door prospecting, the constant need to reach out to people can take a significant emotional toll over time.

The key to managing rejection lies in a crucial mindset shift. Chan explains, “I used to take rejections personally, and it would trigger self-doubt. What helped me shift was realizing that rejections aren't about me. It could be about timing, trust or simply not being the right fit. I also reminded myself: I'm not here to convince, I'm here to guide and to serve. Things started to shift once I let go of needing external validation and focused on showing up sincerely. I got more clarity and peace and, ironically, more clients.”

Issac Wu, a five-year MDRT member from Singapore, also reinforces this perspective: “It’s perfectly fine if prospects aren’t ready, or if you face rejections. What matters is showing up with the right intent and building trust over time. The core of our job is to reach out to more people and bring value to their lives.”

Set boundaries to balance work and personal life

The nature of financial advisory work often demands flexibility that can blur the lines between professional and personal time. Many advisors work long hours and often sacrifice personal time to accommodate client meetings. These meetings often occur during weekday evenings and weekends, forcing advisors to choose between personal commitments and professional opportunities. Without proper boundaries, this pattern can lead to mental fatigue and relationship strain.

Establishing clear boundaries is essential for maintaining both your effectiveness as an advisor and your personal wellbeing:

Set defined non-work hours: Help clients understand your availability by communicating your work schedule, particularly for appointments outside regular business hours.

Protect dedicated personal time: Reserve at least one day a week or several periods throughout the week, where you do not engage with work. Use this time to focus on family, hobbies, or simply rest to mentally recharge.

Wu shares, “It’s normal to experience burnout as a financial advisor, especially in the early years due to irregular working hours. But it’s important to find balance and take intentional steps to care of your well-being. Set clear boundaries — designate days or times where you don’t work, so you can recharge.”

Jasmine Tan, a three-year MDRT member from Singapore, also exemplifies this balanced approach. Inspired by the MDRT Whole Person concept, which encourages financial advisors to balance personal relationships, maintain health, pursue passions, and contribute to society alongside achieving professional accomplishments, Tan believes life should be a "happy marathon".

Managing multiple roles as financial advisor, content creator, fitness enthusiast, daughter and wife, Tan credits good time management as integral to her success. This approach ensures she does not have to sacrifice personal time with family or neglect important relationships for work commitments.

Thriving, not just surviving

Mental health matters just as much as physical health. Ignoring the signs of stress and burnout can quickly lead to more serious issues that affect both your personal relationships and the professional reputation you have worked hard to build. Remember that you can always work tomorrow, but you need to take care of yourself today.

The financial advisory profession can be demanding, but it need not be detrimental to your well-being. Being aware of the stressors and how you can navigate them can build a sustainable practice that serves both you and your clients effectively. The goal is not just professional success, but a fulfilling life that encompasses all aspects of who you are.

Contact: MDRTeditorial@teamlewis.com

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Mental health matters: How financial advisors can care for their mental well-being