There's Nothing More Annoying to an Adviser Than a Client Who...

Recently, we ran a question on LifeTalk: "There's nothing more annoying to an adviser than a client who..."??

The answers flooded in, and let me tell you, they were as relatable as they were hilarious. From clients who think their mate at the pub knows more about ISAs than you, to the ones who “forget” to mention their second home in Marbella, it became crystal clear - advisers really have to deal with some characters!? ? But these anecdotes do more than provide a bit of comic relief. They highlight an important truth: Advisers aren’t just managing their clients’ money - they’re managing their clients' expectations, behaviours, and sometimes, their wild misconceptions. And the key to a smoother, more enjoyable advising experience? Finding and working with clients who embody five key traits - Efficient, Transparent, Trusting, Appreciative, and Respectful.? ?

Let’s dive into these traits, how you can earn them, and, most importantly, how to avoid clients who will drive you up the wall.?

1. Efficient?

What advisers can do to earn it: If there’s one thing we all know, it’s that nobody likes a long, meandering conversation when a short one will do. (Except maybe your Aunty Dorothy, who thinks that every conversation needs to start with an update on her cat’s digestive issues.) So, as an adviser, your job is to get to the point, sharpish. Clients respect you when you respect their time. You know what they want: clear steps, no waffle. And if you can throw in a nifty online portal to cut out unnecessary calls, even better.? ?

How to avoid clients who don’t have it:?Some clients just love to chat. They’ll happily turn a 10-minute phone call into an epic saga that would make Tolstoy blush. Nip that in the bud. Set up firm time slots for meetings and, for heaven’s sake, avoid open-ended calls unless you’ve got a really comfortable chair.?

Key Question to Ask:?“How do you prefer to communicate and how often would you expect updates?”?Translation: “Are you going to be a talker?” This question will reveal whether your new client has a fondness for brevity or will happily regale you with tales of their neighbour’s fence issues during every call.?

2. Transparent?

What advisers can do to earn it:?Ah, transparency. A noble pursuit. Imagine this: You’re happily advising a client, all is well, and then - bam! - they casually mention that they forgot to tell you about the holiday home in Marbella and the small trust fund they set up for their cousin’s ferret. Clients must know that this kind of information is essential. So, be as transparent as possible on your end, and make it clear that holding back information is a one-way ticket to chaos.?

How to avoid clients who don’t have it:?You need to know everything - the good, the bad, and especially the ugly. Ask for it all upfront. If they start to get a bit cagey, take that as a red flag. If they’re hiding things now, they’ll be hiding things later, and you don’t want to be a Sherlock Holmes every time you meet.?

Key Question to Ask:?“Have you worked with other financial advisers before? Were there any aspects of the relationship you didn’t share with them?”?This subtly asks: “Are you a vault of secret financial titbits I’ll have to drag out of you?” Keep your magnifying glass ready.?

3. Trusting?

What advisers can do to earn it: Now, you may think that if a client has come to you for financial advice, they’ll naturally trust you. You’d be wrong. Clients love their “research,” which usually means they’ve spent 10 minutes on Google and are now an armchair expert on global markets. It’s your job to gently show them that you are the expert here, and no, just because “Dave down the pub” said something, doesn’t mean it’s the best financial strategy.?

How to avoid clients who don’t have it:?Watch out for the phrase “But I read on the internet that…” It’s the first sign that you’re about to lose an hour of your life to a conspiracy theory on interest rates. If a client is already questioning your advice during the first meeting, you’re in for a bumpy ride.?

Key Question to Ask:?“If a friend or family member suggested a different strategy than the one I propose, how would you handle that?”? Because let’s be real—Uncle Bob is always going to have an opinion, and you need to know if the client will follow you or Bob when the chips are down.?

4. Appreciative?

What advisers can do to earn it:?Let’s talk fees, because we all love that, right? Here’s the thing: clients need to appreciate your value. You’re not just some financial wizard they can haggle with at a car boot sale. No, you provide real, measurable benefits. So, if you’re going to help them hit their financial goals, they need to understand that it’s worth paying for. And paying Consumer Duty fairly.?

How to avoid clients who don’t have it: If they try to negotiate fees right off the bat, run. Fast. The relationship is going downhill faster than me on my race skis in the Italian Alps. Value yourself, and they will, too.?

Key Question to Ask:?“How do you view the relationship between fees and the value provided by an adviser?” Because what you’re really asking is, “Do you think I’m worth it, or are we about to have an awkward conversation about discounts?”?

5. Respectful?

What advisers can do to earn it:?There’s something truly magical about a client who respects your time and space. These are the ones who don’t expect you to answer a WhatsApp message at 10 p.m. on a Friday night because they just had a “quick question” about their ISA. You must set boundaries early and be sure to stick to them, lest you become a 24/7 helpline.?

How to avoid clients who don’t have it:?Boundaries are your friend. You’ve got to set expectations for response times and availability. If a client is firing off late-night texts during the first week, it’s probably only going to get worse. You deserve downtime. (After all, don’t we all?)?

Key Question to Ask:?“What are your expectations for communication outside of standard business hours?”?In other words, “Will you leave me alone at 10 p.m., or am I about to become your personal financial hotline?”?

So there you have it - five key traits to look for in clients, and the totally foolproof questions to help you avoid the ones who’ll make your life a misery. Whether it’s avoiding endless phone calls, getting the whole financial picture upfront, or politely dodging late-night texts, these tips will help you find clients who are a dream to work with.

After all, life’s too short to spend your days deciphering Uncle Bob’s investment advice, right??