Are Your Clients the Huxtables or the Sopranos?: Assessing Family Complexity in Wealth Management

Accurate upfront assessment of client families can influence many important factors: allocation of resources,
choice of relationship manager to assign, likely profitability, stresses on your advisors and administrative staff, and the impact on other accounts due to time spent on high-maintenance clients. Avoiding costly mistakes
can make the difference between successful client relationships and those that end in failure, badmouthing of
your firm by the client or his referral source, or even litigation.

By Dennis T. Jaffe, Ph.D. and James Grubman, Ph.D.