Been ghosted by a client? Try not to take it personally
Financial ghosting is a growing issue for financial advisors, who often face silence from clients during critical moments. This silence can stem from various emotional factors, including shame and life transitions, rather than dissatisfaction with the advisor. Advisors emphasize the importance of maintaining communication and understanding clients' emotional states to rebuild trust.
- ▪Financial ghosting occurs when clients stop communicating with their financial advisors, leaving them uncertain about the reasons for the silence.
- ▪Advisors suggest that this behavior often relates to clients feeling overwhelmed or embarrassed about their financial situations.
- ▪Maintaining open lines of communication and understanding clients' emotional challenges are crucial for advisors to effectively support their clients.
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Open this photo in gallery:Financial ghosting has become an increasingly familiar part of the job, exposing just how tangled money can become with shame, identity and emotional avoidance.CurvaBezier/iStockPhoto / Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountFinancial advisors are used to guiding clients through market crashes, divorces and retirement fears. What catches many off guard is complete silence.When calls go unanswered, e-mails pile up and financial plans stall halfway through, advisors are left wondering whether the client is overwhelmed, embarrassed, angry, or simply avoiding a conversation they no longer know how to have.Financial ghosting has become an increasingly familiar part of the job, exposing just how tangled money can…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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