Question for advisors:

A client passes away. The account is relatively small, and there’s a good chance the surviving spouse will move the assets elsewhere. From a practice-management standpoint, there may be little economic incentive to spend money on flowers, memorial donations, etc.

Do you send flowers, make a donation, send a handwritten card, call the family, or simply handle the paperwork professionally?

Where do you draw the line between being a business owner and being a human being?

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They were a client, you send something. Card flowers etc. Period. Account size and if assets stay is irrelevant.

like

I’ll send both

Always send something… a small gesture could be something that the contra advisor did not do or is not doing…

More importantly, I’d use this as a time to reflect on my process and how I left the surviving spouse, kids, beneficiaries, whomever, out of the conversation that led to a situation where I would need to worry about the assets going anywhere to begin with…

If a client doesn’t trust me with all of their assets, without good reason (like a trust), I probably would have gotten rid of them before now anyway… make a habit of cleaning out your book and purging dead assets annually…

likehelpful

She was lovely enough but never transferred her 401k. It was basically 35k and that was it.

I’ve been in the life insurance/ wealth management business for 20 years. I’ve never sent a gift, flowers, etc for a client death claim. But I’ve been to hundreds of visitations. Account size was irrelevant.

likesmart

Im out of the country but will send a small plant.

Send something. Your humanity should take over. The rest is the rest.

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Jesus man.

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Explain

If you had enough time to ask this, send something

like

I’ll send a small plant.

Based on your choices, be a human being.

Based on this post, he’s not

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