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Industry_Scribe View Drop Down
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    Posted: Dec/28/2022 at 3:22pm
Hello to all, and happy holidays.

I am working on an article for a prominent publication. The theme is dealing with problem clients. Specifically, those who want too much or too little contact, those who are regularly panicked or who desire constant portfolio/strategy changes, and those who derail their plan with constant withdrawals. I'm not looking for stories as much as your insight as to how you'd handle any or all of the above scenarios. PM me if you're interested in being interviewed. Thanks in advance!
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RIArules View Drop Down
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Industry Scribe, two members come to mind.  Helado and Mission Shooter will probably give you the best, unvarnished advice.
“We are all Antifa” - Hacksaw 9/12/2025
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I think you described every client. They are all like that. 
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Originally posted by Industry_Scribe Industry_Scribe wrote:

Hello to all and happy holidays.

I am working on an article for a prominent publication. The theme is dealing with problem clients. Specifically, those who want too much or too little contact, those who are regularly panicked or who desire constant portfolio/strategy changes, and those who derail their plan with constant withdrawals. I'm not looking for stories as much as your insight as to how you'd handle any or all of the above scenarios. PM me if you're interested in being interviewed. Thanks in advance!
1. What publication?
2. Do you believe in the Oxford comma?
3. Why would a client who doesn’t need much contact ever a problem?

There’s only one way to handle them. High intense exercise. 
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I Miss Jim View Drop Down
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That’s terrific. Well done.
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richchick View Drop Down
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Originally posted by rhayder rhayder wrote:

I think you described every client. They are all like that. 

LOL
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What’s wrong with the clients that want little contact.  As long as your rebalancing them if it right for them, sending them educational material on a consistent basis. And doing a review with them once a year.  Those clients are great!
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Thanks for the replies! Let me clarify. ...

The article is for a publication read by financial advisors. It is intended as a practice-management piece. I want to interview a few advisors and get opinions as to how they would handle (or have handled) certain types of "problem clients." If you're interested in contributing to the article, kindly PM me. In addition to appearing in the article, you may also choose to appear in a short video to provide your opinion.

I'll ask you about a few specific scenarios. ...

The client who either wants an excessive amount of communication or who is troublingly unavailable to discuss his or her account.

The client who is regularly panicked and/or wants constant changes to his or her portfolio.

The client who derails his or her plan with regular or excessive withdrawal of funds.

Thank you for your consideration!
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Originally posted by Industry_Scribe Industry_Scribe wrote:

Thanks for the replies! Let me clarify. ...

The article is for a publication read by financial advisors. It is intended as a practice-management piece. I want to interview a few advisors and get opinions as to how they would handle (or have handled) certain types of "problem clients." If you're interested in contributing to the article, kindly PM me. In addition to appearing in the article, you may also choose to appear in a short video to provide your opinion.

I'll ask you about a few specific scenarios. ...

The client who either wants an excessive amount of communication or who is troublingly unavailable to discuss his or her account. For excessive conmunication I am upfront in the onboarding process on what service level I am comfortable keeping.  I keep to my word.  I also give everyone 6 months, even difficult clients.  If I can't train them then the de linked as a house account.  For clients who I can't get a hold of , first year mail review with a letter asking if there financial situation has changed.  2 years of no reviews or response they get de linked and house accounted.  I learned a trick her to just leave a voicemail saying " I need a call back, its urgent about your investment account.  I always get a call back after that message.  

The client who is regularly panicked and/or wants constant changes to his or her portfolio.


I go over my investment philosphy before they become clients.  This doesn't happen.  Clients do panick, then I pull up their financial plan tailored to them, show them a stress test of previous market crashes with similar investment styles and basically hold hands.  These clients that call get extra follow up from me to make sure there emotions are ok.  Given where FIA rates are  at now,  if they do this multiple times I suggest maybe an FIA would be a better fit since they wouldn't be so stressed.  I tell them I do think long term it will be a lower return but it will definitely reduce their variance.


The client who derails his or her plan with regular or excessive withdrawal of funds.

Sit them down and do a cash flow plan with them and show them how long their portfolio will last with the current withdrawals.  The note it up in crm that I did this with them, if it continues have them sign that I went over there portfolio is not going to last with the way they are spending.  Then I make more cash available then necessary if they are taking out a huge amount to reduce variance.  Then after that I do nothing else to stop them, it's there money.  They now know the consequences.

Thank you for your consideration!
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panick
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Originally posted by spudpotato spudpotato wrote:

panick

Wide Spread
“We are all Antifa” - Hacksaw 9/12/2025
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Originally posted by RIArules RIArules wrote:

Originally posted by spudpotato spudpotato wrote:

panick

Wide Spread

Lol

Note it up 
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RIArules View Drop Down
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Originally posted by Nathan Explosion Nathan Explosion wrote:

Hippies

🤧
“We are all Antifa” - Hacksaw 9/12/2025
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rhayder View Drop Down
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Originally posted by Industry_Scribe Industry_Scribe wrote:

Hello to all, and happy holidays.

I am working on an article for a prominent publication. The theme is dealing with problem clients. Specifically, those who want too much or too little contact, those who are regularly panicked or who desire constant portfolio/strategy changes, and those who derail their plan with constant withdrawals. I'm not looking for stories as much as your insight as to how you'd handle any or all of the above scenarios. PM me if you're interested in being interviewed. Thanks in advance!

What is the prominent publication? 
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Spaceman Spiff View Drop Down
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Originally posted by spudpotato spudpotato wrote:

panick
That’s actually the correct spelling of the past tense usage of panic. 
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spudpotato View Drop Down
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Originally posted by Spaceman Spiff Spaceman Spiff wrote:

Originally posted by spudpotato spudpotato wrote:

panick
That’s actually the correct spelling of the past tense usage of panic. 

Panicked. Have panicked.
What choo talking about Willis?
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Panic
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spudpotato View Drop Down
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Originally posted by knuk knuk wrote:

Panic


I love the Smiths. Heart
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