Dr. Sam Glazer, a renowned psychiatrist has revealed that majority of his patients are coming from Wall Street, most of which are traders, hedge fund managers, investment bankers, as well as corporate lawyers.
Glazer recently added two therapists to his now six-member practice, which treats about 200 patients at a time, per WSJ.
“I’ve seen a lot of people who are high functioning in the upper levels of finance who are terrified of being exposed,” said Glazer, 56.
“There’s a culture of paranoia. ‘Would you want someone to manage your money who’s an identified alcoholic?’”
Large banks like JPMorgan Chase have introduced new mental-health initiatives but private-equity firms and hedge funds have been slower to act, says WSJ.
“Addiction is a huge problem,” said Jonathan Alpert, a psychotherapist who also treats professionals in finance, as well as technology. “Asking for help is probably a little more acceptable in tech because of their focus on wellness, but Wall Street is more traditional, more ‘bust your ass and do what you need to do.’”
When financial chieftains are riding high, some use substances and compulsive sex to amplify the feeling, Glazer said.
“When their fortunes sour, they do the same to avoid it. Others turn to addiction to mask the reality that achieving their goals—like launching their own fund or making $100 million—can still leave them feeling empty.”
Glazer, who charges $700 per 45-minute session, declined to disclose how many of his patients achieve long-term recovery.
Want more Wall Street news like this?
Join the newsletter or follow me on social media below for daily updates and stock market news.
Interested in sharing your thoughts and opinions? – leave a comment down below.
Market News Published Daily 📰
Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!
THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.
Franknez.com is the media site that keeps retail investors informed.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
- SNAP Benefits Will Now Increase For The Year 2024
- Florida Now Has Massive Departures As Hundreds of Thousands Leave
- A Massive US Bank is Now Closing Credit Cards
- California Now Has Massive Departures As Hundreds of Thousands Leave
- The US Treasury Direct is Now Freezing Customer Accounts
- Wells Fargo is Now Freezing Bank Accounts in New Scandal