What You'll Learn In Today's Episode:

• Setting clear expectations is crucial in client relationships.
• Communication policies should be established and communicated to clients.
• Clients should feel comfortable asking questions about their finances.
• Advisors need to define non-negotiables in their client relationships.
• Communicate terminations with empathy and professionalism.
• Always lead with value in client interactions, even during terminations.

In this episode of the Perfect RIA Podcast, Matt and Micah tackle the delicate dance of knowing when—and how—to part ways with clients. They challenge the very notion that advisors can simply “fire” clients, arguing instead that you must first earn that right through consistent value delivery.

They explore the fascinating psychology behind client-advisor tensions, revealing how unmet expectations are at the root of most relationship breakdowns. “All disappointment,” they remind us, “comes when expectations collide with reality.” They offer a nuanced take on distinguishing between clients who question advice (healthy) versus those who consistently ignore it (problematic).

Matt and Micah share practical wisdom on establishing non-negotiable boundaries, implementing clear communication policies, and protecting your team from energy-draining client dynamics. They walk through the graduation process with empathy, emphasizing that even termination conversations should be handled with value and professionalism.

Resources In Today's Episode: