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QUESTION for you - What do you call a plant that retains water?
ANSWER: Clever.

QUESTION: What do you call a financial advisor who retains clients?
ANSWER: Successful.

A distinguishing attribute among successful financial advisers is the ability to retain clients. We lost a client this past week that [shamefully] was not a good fit for us. We knew we would lose the client at some point, we just didn't know when. Maybe because of my EF Hutton DNA to retain clients, it hurt nonetheless.

Our client attrition rate is considered low–not because investors just stay–but we believe clients perceive we add value to their need systems. When we no longer fulfill that value–for whatever the reason might be–they leave! Just like this client did. And what did I learn?

There is nothing clever about that answer at all.

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