What to do when you don’t like your top clients

Sometimes, as financial advisors, we confuse top clients with ideal clients. There are important differences between the two, however. For me, ideal clients make going to work on a Monday morning something to look forward to. On the other hand, some top clients may make you want to stay home.

There could be a variety of reasons why a client isn’t ideal for you. Perhaps a client’s personality clashes with yours. Or maybe they don’t refer you to others, or they aren’t accepting of any (rare!) advisor missteps. Or it can simply be an unknown “ugh” factor. I’ve had many of those in my career. When I do, that tells me this isn’t an ideal client.

My ideal client fits into these four categories:

Adrian George

• Profitability
• Asks questions to understand versus to object
• We like each other
• Provides referrals

If they tick all of those boxes, they are at the top of my ideal client list. You may have different categories; nonetheless, you should enjoy meeting with your ideal clients.

Make space for ideal clients

There are too many ideal clients waiting to work with you to have a “top” client (based only on revenue) who you simply don’t like working with. Encourage those clients to work with someone who may be a better fit. This allows you more time to find your ideal clients.

The good news is that you get what you ask for when it comes to clients, but it’s also the bad news if you’re not specific about what your ideal client looks like. There’s simply no way for your current clients and centers of influence to narrow down their mental Rolodex otherwise, and they won’t know who to send you. For me, my ideal client is a physician or dentist, in their 30s, married/planning on getting married, with or planning to have children, and often with a mortgage/car loan or student loan.

With that in mind, it’s much easier for my existing clients to know who to get me in front of, versus “Who do you know who needs insurance?” The answer to which they have no idea and even less understanding of how you could help them.

Adrian George, CFP, TEP, is a nine-year MDRT member and Top of the Table qualifier from Calgary, Alberta, Canada. He owns an advisory practice in Calgary, Alberta, Canada, and Vancouver, British Columbia.

More on how to work with your ideal clients

• “Make more money with fewer clients” from Bill Bachrach, a top coach for financial advisors
• “Your ideal future clients” from the 2017 Annual Meeting presentation of Top of the Table qualifier Angus Donald McQueen, Dip FS, Dip CD, of Australia ( MDRT members only)
• “Selecting clients you want through seminars” from Top of the Table qualifier Karl Hartey, of England.
• “Attract don’t hunt the perfect clients” from 2015 Annual Meeting speaker and author Katy Goshtasbi, J.D., founder and president of Puris Personal Brand Solutions.