The #1 Worst Practice: Getting Rid of Clients

by Bill Good Marketing on October 18, 2011

In my humble opinion, one of the most important themes of my entire career has been my sustained attack on…

the idea that you can  improve your business by the getting rid of clients.

I’m not talking about those who make life so unpleasant that advisors do not want to come to work. I’m talking about “the little guys.”  My first attack on this idea was 1991.

Most recently, I gleaned some comments from a survey from people who had pruned their book.  Here’s one.

“I knew that book pruning was not in the best interest of clients, but I nonetheless bowed to management pressure. I regret to this day the decision to turn my back on clients who placed their faith and trust in me.”

FA at national wirehouse

The first objective of the client retention system of the for the Bill Good Marketing system (or any business for that matter) is: become or remain sole provider for all clients who are not jerks.

Please, if you are thinking about throwing some clients under the bus, read my blog article on AdvisorOne. Learn about the spooky practice known as book pruning.

You can also brush up on your client retention skills here.

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