You’ve likely felt it—that nagging sense something’s not quite right in the world of work. Clients may not say it out loud, but under the surface, there’s growing unease. For wealth advisors and RIAs, this discomfort matters. It's not just about markets or inflation—it's the job market that's quietly reshaping how clients feel about their future.
We’ve gone from the post-pandemic "Great Resignation," where employees briefly held the upper hand and job-hopped with confidence, to a more sobering reality. Back then, workers were optimistic, flush with stimulus cash, and eager to make career moves. But that wave crested quickly. Soon after, we entered a paradox: Americans insisted the economy was in bad shape, even while employment was strong, wages were rising, and consumer spending stayed solid.
Then came the “Big Stay.” Workers stopped chasing new opportunities and instead opted for stability—sometimes reluctantly. Even after the 2024 election, when there was a brief spike in optimism around the idea of a "Trump 2.0" economy, that confidence faded fast.
Now, we’re in a different phase entirely. It’s less about staying and more about clinging. Workers are doubling down on job security: showing up in the office, overcommunicating, and trying to stay visible. The mood? Wary. And it's not just anecdotal. The Conference Board’s consumer confidence index dropped in March, driven by falling expectations around income, business conditions, and the labor market. Their expectations index fell to its lowest level in 12 years—dipping below the threshold that often signals a recession.
What’s especially relevant for advisors is this: even though clients may feel secure in their jobs today, they’re anxious about tomorrow. Future income growth looks uncertain. Job security is shaky. And that creeping doubt is bleeding into broader financial decisions—how people save, spend, and invest.
This is a pivotal moment. For RIAs and wealth managers, understanding this shift in sentiment isn't just helpful—it’s essential to guiding clients through what’s coming next.
