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How do I know if a financial advisors clients are happy with them?

Jan 04, 2012 by Dan from Ventura, CA in  |  Flag
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6 votes

Toni - A successful advisor will have multiple satisfied clients, and will not hesitate to provide you references if you ask.

Comment   |  Flag   |  Jun 08, 2012 from Denver, CO

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I've found it's generally a matter of expectations. Quality advisors are generally careful about which clients they accept. A client chasing `performance' is not one that will be happy with any advisor for very long; a disappointment is bound to happen. Likewise, a client seeking a long term prudent and disciplined investment process operating according to a plan is likely to be disappointed if s/he has an advisor who's always coming up with a new investment idea.

When the client and advisor are 'in synch', the odds of disappointment go down dramatically. I think the referral factor is one component - remember, even Bernie Madoff had glowing referrals and all from people chasing perfomance - but, being aligned on process may be just as important.

Comment   |  Flag   |  May 24, 2012 from Moorpark, CA

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If they aren't transferring their assets away, are providing referrals, answer your correspondence, then it is safe to say they are happy. Especially if they are referring. You wouldn't refer to someone you don't like

Comment   |  Flag   |  Jan 05, 2012 from Boston, MA

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