Here Is A Strategy To Deal With A Service Hog

One of my financial advisor clients asked me for help with one on of their clients that sends them weekly e-mails about their investments along with their research that they have done about each investment along with questions back to my financial advisor client about the research and what actions should be taken.

My financial advisor client had spoken with their client that week and re-explained they have:

• Identified their client’s vision, goals and needs

• Created a financial plan

• Made reconditions about low risk long term investments

• Explained their service offering which includes a detailed quarterly review of their client’s plan and investments

• Explained their service offering which includes e-mail and telephone communication from time to time

I asked my financial advisor; Did they put the above recommendations in writing?

The answer was no.

Here is a draft letter that I created for my client to edit.

Dear Service Hog,

Thank you for today’s e-mail.

Before I reply I’d like to revisit our conversation from our last meeting.

To confirm, you want a financial advisor to help you to create a financial plan, grow your assets, protect your assets and leave a legacy that would also include ( *fill in here with the clients goals relating to – additional health care, charitable giving, family continuing education, retirement plan, vacation home & travel ).

I believe I’ve been providing you with what you want.

During our meeting I confirmed that I work with my clients in the following way (*Spell out your service offering*):

• Identify your vision, goals and needs

• Create a financial plan

• Make recommendations about low risk long term investments

• Offer a detailed quarterly review of your plans and investments

• Offer e-mail and telephone communication from time to time

While I appreciate your weekly emails they are outside of my regular customer service offering.

I do not provide email or letter replies to regular weekly correspondence from clients.

Please note that, based on my licensing, as my client I feel I must reply to your requests.

Going forward I will require a fee of (*whatever you decide*) to provide you with replies to your weekly e-mails.

If this is not satisfactory to you then I would be more than happy to reply to your queries on a (*fill in the blank… monthly, bimonthly, quarterly*) basis.

I very much like working with you and please understand that I am just unable to provide you with weekly detailed communication.

Thank you for understanding.

Joe Financial Advisor