Should financial advisers reveal their own money issues?

It is not every day that Robert Wyrick Jr. of MFA Capital Advisors in Houston comes across a prospective client such as the one he met recently - a man who wanted to know exactly how Wyrick handles his own finances.

But Wyrick wasn't fazed; he had plenty to say. Seven years after spending more than $1 million for his wife's costly and ultimately losing battle against ovarian cancer, he still had managed to start his own company and make sure his two kids had enough money for college. He felt confident he could share the bad and the good, so he answered the prospect's questions, even sharing screenshot of his investments. And Wyrick won the client's business.

"I say 'Why not?'", said Wyrick. "If a person is sitting there with their life savings, and they're interested in talking with an adviser, everything should be on the table," he added.

It can be tricky for an adviser to introduce his or her own point of view and experiences into the conversation - after all, the focus needs to remain on the client - but advisers say dropping a veil or two goes a long way to building trust and the client relationship.

Read the rest of the article at Reuters.