FIRE Toxic Clients

It has only happened once before in the 20+ years I’ve been coaching financial and insurance professionals, but last week, I returned a fee to an advisor because I couldn’t help her.? I tried my best, but all she wanted to do is complain.

Linda is an attractive single mom of two teenage sons who got herself out of a (verbally) abusive marriage. She was licensed for p&c, life, and health, and earns more than most advisors, but she wanted to get out of her p&c business and focus on annuities and life insurance. And she felt that the world was conspiring against her.

She was not happy about being a single mom.

She was not happy about her inability to get help from her sons.

She was not happy with her p&c business, which was being chipped away at by competitors offering better prices than she was able to get her clients.

She was not happy with her neighbors, who, she felt, abandoned her because her political beliefs were different than theirs.

She was not happy with her prospects, because they constantly flaked on her for second appointments or tried to hit on her when she went to see them about business.

She was not happy with her previous prospecting efforts or her previous business coach.

She complained she did not have time for anything in her life and about the piles of documents and folders everywhere around her, and rejected all the ideas we talked about to solve those problems (including finding a new assistant), telling me she had tried them all and none of them worked.

And, finally, after a few coaching sessions, she started to complain that our conversations weren’t helping her.

So, it had to end—and although Linda contracted to work with me for six months, I immediately offered to return most of her fee. ?She had to be “fired” as a client.

I’m sharing all of this because I’ve worked with many advisors who were frustrated by difficult, abusive clients. ?The fact that these clients had substantial assets or large policies with them kept these advisors from “firing” those clients. So, they continued to suffer their negativity and abuse.

Unhappy clients who complain about everything you’re doing, won’t take your advice, and don’t respect or appreciate your efforts in their behalf are toxic—and no matter how much income they bring you, you need to let them go. Even if you face a substantial loss, fire them now. Whether you see it or not, their negativity impacts your work with clients you love, who are grateful for your help, trust you, and take your advice.

If you’re in a toxic client situation, and worried about facing a substantial loss of income if you let them go, message me to set up a time to talk about it.

And in the meantime, keep REACHING…

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