An Interesting Appointment - Not Really

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Aug 22, 2006 3:07 pm

I just escaped from an hour's long appointment, with a client who was just meant to "stop-in" and sign transfer paperwork.


He spent an hour telling me about how he'd just learned he and his siblings were the product of genetic & fertility testing in the 40's and 50's. Next he explained that he knew this because, he's got enzymes in his body Dr.'s haven't been able to identify yet, and that he's like a super-being, and that when he was younger, you could cut him and magically watch the cut close before your eyes.


 Why is it these kinds of clients/people don't "expose" themselves in this manner until it's TOO late?

Aug 22, 2006 3:15 pm
Devoted SA:

I just escaped from an hour's long appointment, with a client who was just meant to "stop-in" and sign transfer paperwork.


He spent an hour telling me about how he'd just learned he and his siblings were the product of genetic & fertility testing in the 40's and 50's. Next he explained that he knew this because, he's got enzymes in his body Dr.'s haven't been able to identify yet, and that he's like a super-being, and that when he was younger, you could cut him and magically watch the cut close before your eyes.


 Why is it these kinds of clients/people don't "expose" themselves in this manner until it's TOO late?



I always hate the sinking feeling you get after you've already opened the account and then you start to realize that you're dealing with a complete NUT JOB!!

Aug 22, 2006 3:49 pm

No way, you're looking at this all wrong!  You should've told him to prove it, then take it on the road!  He'd be making a fortune on "geraldo" or one of those shows and you'll be rolling in his dough!

Aug 22, 2006 4:03 pm

 That's hilarious...thanks for the laugh, Devoted...you sure you want to be licensed in this biz?!!!

Aug 22, 2006 4:36 pm

No...I'm not.


I was sitting in my chair thinking to myself....genetic testing? hmmm More like radio-active testing, this guy reminds me of the people in the Hills Have Eyes. I half expected him to be under my car when I went out for lunch.

Aug 22, 2006 8:08 pm

Devoted SA has her first X-File! Where's Mulder and Scully when you need them?


Seriously though, be careful with this client and be very conservative with their investments. This client has already caused you to question their mental capacity. (Their first line of defense in arbitration, if they don't like your investments.) Aside from being a nut job, imagine telling the arb board what this client just told you and then trying to explain how the investments you recommended as appropriate, lost money - if that happens.


What investments are appropriate for a nut job? Hardly a question you want the arb board deciding.


Has this client had a "history" with other brokers? By history, I mean arb claims?


Aug 22, 2006 10:14 pm
doberman:

Devoted SA has her first X-File! Where's Mulder and Scully when you need them?


Seriously though, be careful with this client and be very conservative with their investments. This client has already caused you to question their mental capacity. (Their first line of defense in arbitration, if they don't like your investments.) Aside from being a nut job, imagine telling the arb board what this client just told you and then trying to explain how the investments you recommended as appropriate, lost money - if that happens.


What investments are appropriate for a nut job? Hardly a question you want the arb board deciding.


Has this client had a "history" with other brokers? By history, I mean arb claims?




That spurs an interesting thought.  Is there a way you can do some sort of background check on a client that will uncover whether or not they have filed any arbitrations in the past?

Aug 22, 2006 10:29 pm

I had an interview with a prospect some years ago, and she went to great lengths to gleefully tell me about the brokerages (and presumably brokers) that she had sued.


Boy, talk about your ears going up like a jackrabbits!  I made it a point to very quickly say all the wrong things at the right time and get her the hell out of my office.


Then you just sit there in the silence that follows and wonder, "How do they fine me?"

Aug 22, 2006 10:31 pm

TYPO: find

Aug 22, 2006 11:06 pm

I do like the story, but I agree with the advice from Doberman.   A nut client is a complaint waiting to happen.


The only good thing is it won't exactly help his credibility if he refers to his unique genetic traits in a complaint.  A guy in my office had a client write a letter to the state that implied, among other things, our firm had attempted to place surveillance devices in his vehicle and residence. 


We all laughed, but the broker had to respond just the same.


I'd advise you to dump this guy.


Aug 23, 2006 1:12 pm

I made the mistake of opening an account today from this ultra left wing nut job.  He had a problem with everything (i.e. individual holding of the mutual funds, account profile on the application, the waste of paper in the prospectus, etc) and he hates America and all you white males.


I told him at the end of the appointment that I didn't think we would make a good match.  He came back 2 hours later and wanted to proceed.  I told him my concerns and said he would try and behave.


This is going to come back and haunt me.







Aug 23, 2006 1:31 pm

"You white males?"


Who has enough courage to be a white male these days?

Aug 23, 2006 1:39 pm
NASD Newbie:

"You white males?"


Who has enough courage to be a white male these days?



The funny thing was the guy who hates white males was a white male.  Imagine Michael Moore x 10.

Aug 23, 2006 2:03 pm
Mike Damone:

I made the mistake of opening an account today from this ultra left wing nut job.  He had a problem with everything (i.e. individual holding of the mutual funds, account profile on the application, the waste of paper in the prospectus, etc) and he hates America and all you white males.



Ever wonder how people like that come into money in the first place?

Aug 23, 2006 2:58 pm
mikebutler222:

Ever wonder how people like that come into money in the first place?


Well, in this case grampa died and left it to them. They took all their Roth 403B money and put it into EIA. I guess one of his super-hero powers is NOT x-ray vision or seeing danger ahead of time.