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The affects divorce has on financial careers


When issues are present in a marriage, couples in Massachusetts need to determine what is best for their future. Even if they decide that a divorce is their best option, the process can be very life altering and cause hardships in their personal and professional life. The emotions and disputes that occur during the dissolution could significantly affect the future of the soon-to-be ex-spouses, especially when it is a high asset divorce.

A recent report has indicated that a divorce, even when it isn't a messy drawn out dissolution, could cause hardships for the careers of the splitting couple. Whether it is a new job offer, a change in management or a promotion, background checks are frequently performed on those working in financial services. Those working in the hedge fund and asset management sectors could encounter hardships if their divorce issues cause a red flag for their employer.

Marital issues and the divorce process can significantly impact the performance of an employee that manages a significant amount of money. Furthermore, divorce legal issues could come to light by investors. In the dissolution of a marriage, there can be various disputes and problems with asset divisions. This could cause investors to second guess wanting these people to manage their money when it is apparent that they are unable to handle their own financial issues.

Although criminal activity and fraud are common reasons for hedge fund managers to have a damaged career, anything that can be uncovered that can indicate that they have lied, failed to uphold divorce agreements or have financial issues post-divorce can also have a damaging impact on their livelihood. Moreover, in a high asset divorce, their soon-to-be ex-spouse could have a cut of the portfolio manager's capital, which could also create problems for their career.

Divorce is known to be an emotional and life changing event. Although some disputes and hardships cannot be avoided, seeking to keep matters private and minimize the financial issues and disputes is often best. Those dealing with personal and professional issues during the divorce process and post-divorce should understand that they have options and should seek to better understand their rights.

Source: News.eFinancialCareers.com, "Divorce, scandal and other things that could sink your career," Paul Clarke, Oct. 10, 2013

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