In my last two articles, I discussed the notion that there are several “toxic” personality types that you should avoid taking into your practice and how, if you discover these types after the fact, you should seriously consider transferring them out of your practice.

As the New Year is upon us, we all make resolutions. Some want to lose weight, exercise more or change a behavior. The best resolution financial advisors can make is to get rid of toxic clients who weigh you down with stress, anger and frustration.

In my book, “The Financial Advisor’s Ultimate Stress Mastery Guide,” I describe 10 toxic personality types you are likely to encounter and whom you should consider avoiding or eliminating from your practice. I have prviously written about the “the Abusive or Abrasive Alan,” the Controlling Connie,” “the Eddie Haskell,” “the Gloom-and-Doom Debbie,” “the High-Maintenance Marty” and "the Histrionic Harriet.” 

Here are the final four:

The Narcissistic Ned

This client is an elitist and has a high need to be admired and adored. He is so wrapped up in himself that he believes he is your most important client, insisting on your attention whenever he wants it. Since he feels entitled (perhaps because of the amount of fees he pays you), he may insist that your assistant should interrupt you to take his call.

These people spend most of their time looking for attention and accolades from everyone they meet. Do you have the patience and wherewithal to give this energy-zapping client the time and consistent praise he demands?

The OCD Olivia

These clients are constantly anxious and attempt to moderate that anxiety by controlling every possible detail in their lives. This affects their interpersonal skills as they try to control conversations. Having difficulty giving up control to anyone, they cannot delegate decisions and must be in on every decision that you make on their behalf.

What is really frustrating is that they are so concerned with being perfect and not making mistakes that they ruminate for hours over even little decisions. This client is very difficult to work with. They take a tremendous amount of your time, as you have great difficulty getting her to make timely decisions.You may even have to go into excruciating detail with her because of her underlying fear of making a mistake.

Can you afford the frustration that comes with this kind of client?

The Type A Ted

You are very familiar with Type A personality traits since it is highly likely that you possess many of them yourself. Since so many successful people possess Type A characteristics, many of your clients probably fit this pattern. Type A traits are not a problem, per se. But when clients have to be in total control and demand perfection, they can be quite toxic. Fearing loss of control, such clients are easily angered and aggressive. They go way beyond assertiveness in dealing with everyone whom they perceive as a threat.

With you and the client competing for control, can you see how keeping this client will ramp up your stress?

The Wishy-Washy Wanda

Constantly worrying about making a mistake, this client vacillates over every financial decision. Indecisiveness is the key to her sad existence. An extreme people pleaser, she tries to determine what you want her to say, rather than tell you how she really feels. She doesn’t want to offend you or have you judge her negatively.

These clients are chronically unhappy people because they rarely get their needs taken car of. Instead, they spend all of their energy pleasing others, including you. Although she may be easy to manage because she wants to please you, you will never really know her true feelings and fears regarding her financial situation.

Sadly, this is a client you can’t really trust.  Can you afford to retain such a client?

Begin the New Year by eliminating a few of your most toxic clients and I promise that 2016 will be much less stressful.

Dr. Jack Singer is a professional psychologist, speaker and a confidential Accelerated Success Consultant for smart financial advisors, like YOU. He is the author of “The Financial Advisor’s Ultimate Stress Mastery Guide,” which can be ordered in the FA Mag Bookstore, using this link: /book--ultimate-stress-mastery-guide. To learn more about Dr. Jack’s keynote speaking, his exclusive consulting services for financial advisors and his unique, referral-generating program for your next Client Event, contact Jack at [email protected], call him at 1-800-497-9880 for a FREE consultation and read more at http://www.advisingtheadvisors.com