Screening client for strategy
6 RepliesJump to last post
What are other RIAs doing to "know your client"
We run a long/short strategy and have been marketing that strategy. My long term plan is to open all future accounts under this strategy. I am trying to figure out the best way to screen potential clients to make sure that the strategy is appropriate for them AND give me a paper trail.
Last thing I want is to get sued because the client didn’t understand his/her money was “at risk”.
Investor questionnaire, and make sure that all marketing material is consistently informing of risk. My firm faces the same challenge in that we aren’t a good fit for everybody.
I might return to the old avatar…I was just getting concerned that MLGONE was being a bad influence on me.Anyways, if you want anything more specific - email me.
On a related topic, sometimes we have to fire a client when it becomes obvious that we aren’t a good “fit.” In cases like those, I just want to refer them to either an annuity guy/gal or Mel to join his “investment club”.
I make my clients learn the strategy to the point they can recommend the trades they like off the list I send them. At that point there is no way they can say they don’t understand. My stuff can’t be replicated so I don’t worry about them trying it at home. The couple that did were begging me to dig them out within a week.