[quote=skbroker]I have a client that I inherited about 9 months ago and he has several accounts Trust Ira custodian with households of about 750k. About 60k in fee based and rest in a brokerage account. He has threatened me few times that he’ll leave if we start charging extra fees. Everytime I call him he makes you feel like i’m bothering him and rarely returns my calls. So the question is do I give this client away to another fa or continue to build a relationship with this client. 9 years in the business and don’t really need this client. [/quote] I think you answered your own question. You keep the clients you want and need, all the rest you shed for someone else to cut their teeth on.

Yeah,



Every time I fired a client that I didn’t want, it felt great!. Free yourself from this guy, it will be worth it.

While I generally agree with the saying - “If you think you want to fire the client, then definitely fire the client”, there’s a possibility that the guy is just shell shocked from being called on by other brokers and will eventually warm up to you.
How did the account come to you?

I inherited a account from a fa that left for lpl. What are your criteria for firing client?   Low revenue? Small account? Too demanding? All of the above?

My criteria for firing a client has been different over time. Currently, I’ll fire a client if I dread talking to them, think they might ever seek legal recourse, or if they require more than 10 hours a year of attention. This was different when I was in my first few years and when I was older, but still at a wirehouse.

I’m always suspicious of a client who chose to remain with a firm when their advisor left.

I’m always suspicious of a client who chose to remain with a firm when their advisor left.

I’m always suspicious of a client who chose to remain with a firm when their advisor left.