How to Respond When You’re Maxed-Out with Clients

How to Respond When You’re Maxed-Out with Clients

It sounds like a problem you could learn to live with: too many customers.

In fact, a bulging client book can lead to innumerable problems: poor service, missed opportunities, simple burnout. Let’s examine some expert advice on how the maxed-out advisor should handle the issue.

First, let’s run down the symptoms: the office is no longer your second home, it’s your primary residence. Holidays and free weekends are a thing of the past. You’re finding the devil in details you used to master and errors you once would catch – a sure sign of professional exhaustion. The cause, our featured author tells us, is almost always a too-heavy client load.

Sometimes, problem clients are the issue: they want too much time and the return isn’t commensurate. Give them time limits, suggests our expert, although we wonder if this mightn’t drive them away from your firm. You can also raise fees, effectively monetizing those extra hours, but this could lead to client attrition, too.

Perhaps the best solution is to shift extra clients onto a colleague who’s lifting a lighter burden – we wager they’d be grateful. Most advisors hate to this approach, as they worked hard to gain the clients and don’t want to lose the associated income. In the final analysis, it might be the only way to prevent burnout. 

The clients may not like it, either. Here’s how to move them without complaint: when the customer asks for advice, pass him over to advisor who’s been prepped on your problem. Every time a client needs advice, have them work with somebody else on your team. This makes for a seamless switch that leaves little room for complaint and might not even be noticed by the customer. In the end, everyone should come out shining.

For more information, please read:
Don’t Let Client Overload Slow Your Growth | ThinkAdvisor

 

How to SHRED Without Breaking a Sweat Incontestability Provisions Stir the Pot