These clients still need to be informed about decisions.ĭelegators don’t need a lot of control but are still disappointed by unexpected events and respond intensely if they feel betrayed or mistreated. This is the client who says, “I trust you just do what you think is right!” But don’t be lulled into complacency. Once a Delegator decides to hire an advisor and has developed a basic level of trust, he’s comfortable relinquishing most of the decision-making. Make sure you can meet those needs before you begin a relationship.ĭelegators are the ideal clients for many advisors. When you onboard a Collaborator, pay attention to how much detail she requires to feel adequately informed, as some will require extensive specifics while others will be satisfied with less information.
Advisors who think of themselves as teachers or consultants often enjoy working with these clients.
Instead, they want to be involved in every decision and need to understand proposals before agreeing to a process.Ī client with this personality type isn’t comfortable giving discretion to her advisor she requires frequent conversations about decisions and wants to understand market dynamics. They are less likely than Dominators to want to tackle their investments on their own and often hire an advisor however, Collaborators aren’t willing to release the investment process completely. If you have a client who is a Dominator, always defer to him when making a proposal: “You need to be the final decision-maker, but you might want to consider…” Take extensive notes at every interaction, as a client with this personality type often punishes his advisor if he feels that the advisor has failed.Ĭollaborators, who are more in the middle of the spectrum, want some control. Relationships with Dominators are fragile because they need to preserve their sense of command over the world at all costs. Typically, they want complete control over every decision until a decision goes wrong, and then they blame the advisor for the failure. Dominators are difficult to work with, as they want to control every decision and all aspects of the relationship.ĭominators find it easy to fire an advisor for the smallest reason.
Most often they apply a do-it-yourself approach when it comes to investments, but sometimes they hire an advisor to offer them insights and access to information or to handle unpleasant, complicated tasks. Dominators, at the far right of the spectrum, need to control everything.
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