No. 3
Failure to promptly return phone calls: 43.9 percent 
Top 5 Reasons Why Clients Fire Advisors
December 10, 2013
« Previous Article
| Next Article »
Login in order to post a comment
Comments
-
I find these surveys mind boggling. Although a survey of 1400 advisors may be significant from a statistical perspective, it is always interesting to me to find some of the most compelling reasons for an advisor's success in an industry end up being on a top 5 list for terminating a relationship with an advisor. In my world of managing a HNW Single Family Office things like: 'Claims can't keep'; 'Promptly return phone calls'; 'Understanding clients goals/objectives'; 'Failure to communicate' speak more to a lack of integrity, trust, credibility, collaboration, discipline, confidence, and work ethic.
-
Following my post regarding the #2 reason, I wonder what is the cause of the #1 reason 72 % said they were fired for failure to understand the client's objectives. What could be more important than communicating with your client on a timely basis? Is the a self-management issue or lack of systems and processes to keep up with priorities? Bob Moore, CMC, Executive Effectiveness Coach
-
As an executive effectiveness coach, I wonder what is the reason that over half the respondents to the survey said the #2 reason they were fired was because they failed to understand the client's objectives. What do you suppose was the basis for their investment recommendation? Bob Moore, CMC