What to Do if a Gold Digger Hooks Your Client

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Source: Financial Advisor IQ
By Chris Latham October 18, 2013

Imagine having a wealthy client who discovers the affectionate man she recently married is only after her money. Bad, right? Now imagine you figure it out before she does. Whoa.

“Telling your client that the relationship they are in isn’t what they think it is can be very disruptive,” says Steve Burnett, president of Hanson McClain in Sacramento, Calif., which has more than $1.4 billion in assets under management. Even clients who trust their advisors deeply, he says, may fire them when confronted with such a proposition. For that reason, Burnett suggests, it might be safer and more effective to speak to a concerned family member as well.

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