But what if someone who is not your ideal client wants to hire you?
Pannunzio says to think “long and hard” whether the client fits the overall culture of the practice and whether the infrastructure is there to support the level of service this type of client demands.
“A client who does not share the same principles, culture, vision of an advisor has the potential to became dissatisfied or pose excessive demand on the advisor and her team. This in turn could begin to drain a practice’s resources and lower the morale of an adviser.
“In dealing with clients who fall outside of the ideal client profile, advisors should constantly monitor those relationships and look for warning signs for potential clients or dissatisfaction to be prepared to timely address such issues. The latter often provide a unique opportunity to amicably part ways and replace such an account with a more ideal one.” (continued on Page 3.)