The Challenge of Mental Disorders in Families of Wealth: Family Office Association Podcast with Arden O’Connor

[note]Volume 18: The Challenge of Mental Disorders in Families of Wealth[/note]

In Part 18 of the Family Office Association Podcast Audio Series, Angelo J. Robles is joined by Arden O’Conner to discuss mental health and how it impacts wealthy families. Any family may face issues with mental health, including families of wealth. What are the stigmas associated with mental health disorders and how can families put their resources to use to help family members overcome those challenges and seek treatment. You can either read the transcription or listen to the podcast and learn more.


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Angelo Robles: Hello everyone. It’s Angelo Robles of Family Office Association. I’m here today with Arden O’Connor, founder and CEO of O’Connor Professional Group. Arden, how are you?

Arden O’Connor: I’m well, thank you. How are you Angelo?

Angelo: I’m doing fantastic. Now, we did have a conversation with Arden, which hopefully many of you heard about three or four weeks ago, on issues pertaining to drug and alcohol challenges and abuse inside families and family offices. There’s another core topic which Arden is also a renowned leader in that we just didn’t have time to get into, that we’re going to exclusively focus on today. And broadly speaking that will be mental health, or mental health issues and challenges inside families of wealth and resources.

Arden, let’s get right to it. And I know that’s a little bit of potentially a broad topic; mental health issues. From the prospective of our conversation today, give us an overview of what that means and some of what’s facing any family, but possibly one that has wealth and resources and some other issues and challenges that may make it stand out a little bit more. If you don’t mind.

Arden: Sure. No, not at all. I think the mental health has described, I think very accurately, as a big topic. And so, for our purposes it could, in terms of our company and what the types of cases we see, it literally ranges from people struggling with depression and anxiety up to and including very serious mental health issues like bipolar disorder or schizophrenia. There’s actually a manual called the DSM-5 that will define each mental illness by symptom that is the clinical practitioner’s guideline. So if you are a family member and somebody in your family is struggling with something that you suspect is a mental health issue, one of the first steps is often to get an assessment. And they will go in and meet specifically with a psychiatrist or another licensed clinical professional. There’ll be a series of questions asked, and they’ll try to, based on this manual’s guidance, give a diagnosis that’s accurate that may define either a type of therapy treatment path or it may define a type of medication, or both. I you think about the fact that all different clinicians come from different types of training, and you think about a manual, which is something like an encyclopedia, you know that this is more of…

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Author: Family Office Association Support
Family Office Association is a global community of ultra-high net worth families and their single family offices. We are committed to creating value for each family that we serve; value that grows wealth, strengthens legacy, and unites multiple generations by speaking to shared interests and passions. Family Office Association delivers private education and networking opportunities, proprietary research, and access to salient thought leadership that will interest all generations of your family.