One of the difficulties with working with successful clients is that they can sometimes be controlling. “High achievement often corresponds to the need to exert authority over, and influence, others.” This article discusses the strategies and techniques that can be used when working with these types of clients. Oftentimes this personality is a defense mechanism and it is important to understand what drives and triggers these defenses. An adviser should understand when a client feels like they are losing control and they should know when to validate those concerns. They should be tuned into their client’s feelings of fear, anxiety, and sense if they are being overwhelmed. Advisers should understand their client’s defenses and should also know themselves to figure out the best way they can respond to those defenses. Understanding what strategies to use can help an adviser form a better professional working relationship with their client.
See G. Scott Budge, Understanding, and Managing, Overly-Controlling Clients, Wealth Management, March 4, 2016.
Special thanks to Jim Hillhouse for bringing this article to my attention.
