Getting Too Chummy With Clients Can Backfire
Source: Financial Advisor IQ
By Chris Latham April 9, 2014
Advisors commonly boast that their great relationships with clients have blossomed into genuine friendships. They understand one another’s values, break bread together, attend the same parties, even exchange small gifts to show their mutual appreciation. But think about it a minute — real friends rarely enter contractual obligations with each other involving hefty chunks of one party’s financial portfolio.