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Handle client complaints with care

Angry Client


What can you do to keep a client complaint from snowballing into a formal dispute? Several securities lawyers interviewed by Financial Planning offer their advice, which includes: keep an eye out for problem clients, document your communications, get a supervisor involved early, and hire your own outside counsel. Read the full story below. Also, a recent report by Cerulli Associates finds that a growing percentage of retail client assets are being held in fiduciary accounts, AdvisorHub reports. The percentage of money held in advisory accounts hit 42% at the end of 2016, up from 25% in 2005. However, Cerulli notes that the downside has been “a reduction in advisors’ motivation to add new clients to their practice.” See the full story below.

Client complaints: ‘I’ve seen things get bad’

By James Thorne

Source: Financial Planning

Client complaints happen. As an advisor, receiving one is never pleasant but poor handling can turn a sticky situation into a bad one. While circumstances vary, there are a few mistakes that advisors routinely make, whether dealing with a potentially problematic client or faced with an active grievance. For the best outcome, securities lawyers offer advice on navigating disputes as well as common pitfalls to avoid.


Fiduciary Standard Governs More Than 40% of Retail Assets: Cerulli

by AdvisorHub Staff

Source: AdvisorHub

The percentage of client money being held in advisory accounts among traditional financial advisors had risen to 42% at the end of 2016 from 25% 12 years earlier, but brokers as a consequence have grown lazier about building new business, according to a new report.