Gallery: High Times on Wall StreetDec 11, 2013
Wall Street is back—and it needs help. Think of this leading indicator: A record numbers of drug and alcohol-fuelled financial advisors and Street execs are seeking treatment at America’s most exclusive rehabs. Blame it on market timing. Brokerage profits have recovered, stress levels are soaring—and big producers can afford the hefty price tag for their recovery.
According to industry insiders, the rehab business hasn’t been this busy since the financial crisis hit. Dr. Alden Cass, a well-known Wall Street psychologist, is seeing 50 patients weekly at his Manhattan practice. That’s a nearly 30 percent rise in the past 24 months. And these patients are mostly financial advisors and other Wall Street pros. “I refer my clients to these places and I know some of them cost between $35,000 to $45,000 a month,” confides Dr. Cass, describing upscale rehab facilities like the Dunes. “Most insurances barely scratch the surface.”
WealthManagement.com took a peek inside three of the finer U.S. rehabs frequented by financial and wealth management execs—and the occasional Hollywood celeb.