I dropped a new joint over at Registered Rep this morning that will also be getting the full-blown print magazine treatment in the December issue. Read it here first:
I am very fortunate as a financial advisor to have an amazing group of clients I work with each day. I consider it an honor to have been given this responsibility by the households I am responsible for; helping people invest for the future is my life’s work and the relationships I have now with clients mean a lot to me both professionally and personally. But it was not always thus.
There was a time when I would take the business anywhere I could get it. As a young man in the industry that was the job, and in my ambition I foolishly believed that I could work with anyone so long as he or she had investable assets. Boy was I in for an education!
I learned the hard way that there are some client types that no advisor should take on if he or she can help it. I’ve made a list below for young men and women in the wealth management industry to learn from—and veteran advisors to knowingly chuckle at.
Here are the Ten Clients from Hell and how to cope with them: