Have a client w/ 6mm in assets who only cares about beating market. Becoming more of a pain than he’s worth. He’s not interested in planning & doesn’t understand investmentsDo I keep him or let him go

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If his sole objective is to beat the market he is a huge liability to your practice. If the market tanks 40 percent and he is down -38...is he going to be happy? He beat the market by 2 %. Let him go. " Mr client, I m concerned, lately I feel that we r not on the same page. O pride myself helping client s reach there long term objective s, and I am a firm believer in a comprehensive financial plan to help clients stay on track. You deserve to work with someone who can help you with your objective of beating the market. I'm just not that Advisor. I will be sending u a letter with 30 days notice of my terminating our relationship. .... You ll free up the time and mental compacity to take on 6 new clients at 1 m apiece with less headaches

likesmart

So he is willing risk his wealth to achieve gains he doesn't need?

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The bigger question is how did he become your client in the first place? Was something missed in your profiling to ensure he would be aligned with how you manage your clients and assets long term. Or was there something that changed in his life or perspective to drive this? If he's only looking for a money manager and that is not your swimming lane, have that honest conversation and see where it goes. It may be premature to assume it's a goner but as others have suggested it could be a huge liability.

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Clients only want to beat the market when it's going up.

Never on the down side.

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Drop him. He’s a liability to you. And frankly, you’ll either get a complaint or he’ll leave you eventually. Avoid problems and get rid of him. YMMV JMHO

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Let him go

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If they do not wish to listen and only care of Market performance let them go

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Haha if you want to let him go I will literally take him. Can show him managers that have consistently beaten the market over long period

I agree with Fa 1 . Do some research with sma’s and he may like that.

Drop him

Clients like that don’t care about beating the market long term, they will focus on short term underperformance all day long. Clients often say the right things in initial meetings as to what their focus is but then their true colors emerge. Now that we have higher market volatility, likely to stay, he won’t be happy. You can show him what his required rate of return is to meet financial objectives, but he won’t be satisfied and will use the market as his benchmark and reason to be unhappy with you. Dump him.

Put $600k of Qualified money in the Self Adjusting Trend Following Fund. Tell him he’s responsible for beating the market with the rest of the funds. Once the client grows up a little bit he’ll see you did a great job, per his objective, and settle in and give you the rest and listen to Legitimate Planning pointers going forward.

Drop him immediately. Save yourself the headache.

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