When a client is driving you crazy with demands, it may seem easiest to recommend he or she seeks advice elsewhere. But, before taking that step, it’s important to look at the problem objectively and see if you can’t work with the client after all.
The decision to let a client go should be based on facts, not emotions, says Rosemary Smyth, owner and coach with Victoria-based Rosemary Smyth and Associates, which specializes in coaching financial advisors. The decision should be based on such criteria as the client’s asset level, whether he or she fits your ideal client profile and whether they consistently demand an unreasonable amount of your time.
Smyth offers these tips to help you make right decision about whether to retain a demanding client:
> Describe your role and processes
Be clear with your client about your role and how your office process works.
If a client is calling too frequently — to talk to you about their account as well as things you don’t handle — take the time to explain your role, says Smyth. Let the client know if there is someone else in the office, such as an associate, who can better help with his or her request.
As well, be clear with how long it takes to complete certain tasks, says Smyth. For example, if a client demands that a transaction that normally takes two days be done within a day, explain to them why the task takes time and how the process works.
> Don’t change your rules
Avoid bending office policies to accommodate an overly demanding client.
If, for example, a client insists on a meeting on a Wednesday evening or a Saturday afternoon, which would violate your strict rules about when you are available to clients, stick to those boundaries, Smyth says.
> Look at the problem, not the personality
Focus on what the client needs, says Smyth, and not the grouchy manner. Consider what his or her financial problems are and how you can help solve them.
> Look at the glass as half full
Put a positive spin on things by thinking of the experience as a learning opportunity.
Take a deep breath and think about what you can gain by dealing with this challenge, says Smyth. Communication is a skill everyone needs to work on; think of this as an opportunity to take your ability to a new level.
> Stay professional
No matter what occurs while you’re dealing with the problem, keep a professional attitude.
If the client is complaining about something, Smyth, thank them for bringing it to your attention. And always speak calmly.
IE