Ohio launches first-ever national continuing education course for financial professionals on financial toll from substance use and mental health disorders
Financial professionals are better positioned to be the first line of defense in the battle against substance use disorder (SUD) and mental illness thanks to Recovery Within Reach, a national continuing education (CE) course developed and launched by the Ohio Department of Commerce, Division of Securities.
This first-ever national training, which includes national experts, data and resources, educates and equips financial and insurance professionals with critical information needed to help clients and their families navigate the financial and emotional costs of SUD and mental illness. The course also offers one CE credit from North American Securities Administrators Association (NASAA).
“Recovery Within Reach is a game-changer, not just for Ohio, but for the entire country,” said Ohio Gov. Mike DeWine. “Addiction takes a toll on families, and too many have spent their savings, emptied retirement accounts, and drained their resources to get help for their loved ones. It doesn’t have to be that way. I encourage other states and financial firms across the country to take a close look at this course and consider adopting it in their own communities. Together, we can make a real difference and help more families find the support they need to overcome addiction.”
At the start of his administration, Governor DeWine asked state agencies to develop innovative strategies to address the substance abuse and mental health crisis in Ohio. He also created RecoveryOhio, an initiative to coordinate and align the state’s work to prevent, reduce, treat and encourage long-term recovery from addiction and mental illness.
The Ohio Department of Commerce’s Division of Securities developed and launched Recovery Within Reach, an Ohio-specific course in 2023, after a statewide survey found that their financial advisers underestimated the number of clients grappling with addiction, either personally or within their families. National and state agencies took notice with companies like Nationwide requiring the Ohio course for its financial professionals across the country.
“It’s important to us to help prepare our financial and insurance professionals because there are a lot of individuals afraid to discuss and admit that they themselves or a family member are subject to SUD or mental health challenges,” said Jim Rabenstine, chief compliance officer for Nationwide Financial. “It can happen to anybody, anywhere, any time. It's about caring for others and making sure they have the protection that they need in times of adversity.”
The Prevalence of SUD and Mental Illness
Nationally, SUDs and mental health issues continue to have a devastating impact in the U.S.
• 1 in 4 Americans live with a mental disease or SUD.
• More than 45 million people in the U.S. experienced an SUD in 2023.
• More than 107,500 people died from a drug-involved overdose in 2023 and more than 48,000 died by suicide.
• 75 percent of people with SUD reported that a legal prescription drug started their opioid use.
The CE course, Supporting Clients Through the Financial Challenges of Mental Health and Substance Use Disorder, consists of three self-paced video modules, each lasting approximately 20 minutes.
• Module 1: Understanding the Prevalence of Substance Use Disorder and Its Effects
• Module 2: The Financial Consequences of Substance Use Disorder
• Module 3: The Financial Professional’s Role in the Discovery and Planning Processes.
The training includes expert interviews from financial advisers and planners from across the country, families with lived experience, the Substance Abuse and Mental Health Services Administration, Cleveland Clinic, Maryhaven, Nationwide Financial, the Ohio Business Roundtable, Ohio Department of Mental Health and Addiction Services and The Ohio State University Wexner Medical Center.
The course is free and is now available online at RecoveryWithinReachCourse.org.
Recovery Within Reach is a program from the Ohio Department of Commerce’s Division of Securities, aimed at combating the financial cost of addiction. Originally developed for the state of Ohio, the Recovery Within Reach continuing education course is now available nationwide and accredited by NASAA. Learn more at RecoveryWithinReachCourse.org.
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