imagining the ideal client

I recently read an article (can’t find the link, sorry) from a financial advisor that listed three “A’s” that they use to evaluate their clients. Assets, Attitude, Advocate. If a client did not have two out of three “A’s” then the advisor would consider dropping them as a client.

Assets: this advisor’s floor was set at $2 million per household.

Attitude: does the client listen take the advisor’s advice or always argue?

Advocate: a great advocate has good things to say about you and a good group of people (friends, colleagues, etc.) to share with.

I found it all a little bit cold and callous. But it did make me start to think about what I should look for in a client. I am limiting myself to 12 clients for the first year so I better make them good ones.

Assets. Certainly they will need to have liquid assets. I don’t know what my lower limit should be but I know that it will be less than $2 million.

Attitude. I don’t want a contentious relationship with any of my clients, but I do wan’t them to be able to ask questions and challenge me. I know that I don’t have all the answers and I expect to learn more from my clients than I am able to teach them.

Advocate. When it is time to grow the business I want my first 12 clients to be some of my best advocates.

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