Advisors should rank the desirability of each client and be prepared to trim out the dead wood, he maintains.
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Advisors shouldn’t be afraid of firing clients who require too much attention relative to the amount of revenue that they produce, says Brian A. Carlis, a securities arbitration lawyer with Lawrenceville, N.J.-based Stark & Stark. So reports Financial Advisor.
Advisors should rank the desirability of each client and be prepared to trim out the dead wood, he maintains.