15 min
When Is It Time to Fire a Client? The Profitable Advisor Podcast
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- Entrepreneurship
So much of our efforts as financial advisors are focused around getting new clients. From marketing to selling, you have to be able to attract clients to have a business so it is an integral part of what we do.
Sometimes, though, we make it so important that we’re willing to put up with a difficult relationship just to maintain a client. At some point, we have to make some tough decisions like when is it no longer worth it? No one wants to lose money, but there comes a point where the revenue you’re receiving pales in comparison to the grief you’re having to put up with.
Today we’ll explain the situations where we determine it’s best to end a relationship with a client and why you should be considering doing the same.
Here’s some of what you’ll learn on this episode:
The first reason we would fire a client is when they fail to follow the plan. (3:10) Why unrealistic expectations might lead to you being fired so is it best to take that action first? (7:07) Clients are occasionally just bad people and not worth the time. (8:48) How do make up for the lost business when you fire a client? (10:54)
Schedule a meeting with Dan: http://bookachatwithdan.com
Read more and get additional financial resources here: http://renegadeadvisor.net
So much of our efforts as financial advisors are focused around getting new clients. From marketing to selling, you have to be able to attract clients to have a business so it is an integral part of what we do.
Sometimes, though, we make it so important that we’re willing to put up with a difficult relationship just to maintain a client. At some point, we have to make some tough decisions like when is it no longer worth it? No one wants to lose money, but there comes a point where the revenue you’re receiving pales in comparison to the grief you’re having to put up with.
Today we’ll explain the situations where we determine it’s best to end a relationship with a client and why you should be considering doing the same.
Here’s some of what you’ll learn on this episode:
The first reason we would fire a client is when they fail to follow the plan. (3:10) Why unrealistic expectations might lead to you being fired so is it best to take that action first? (7:07) Clients are occasionally just bad people and not worth the time. (8:48) How do make up for the lost business when you fire a client? (10:54)
Schedule a meeting with Dan: http://bookachatwithdan.com
Read more and get additional financial resources here: http://renegadeadvisor.net
15 min