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Practice Wise: How I Almost Lost a Client to a Broker

Sheryl Rowling shares some lessons learned.

Sheryl Rowling’s new Practice Wise column is available first in Morningstar Office Cloud.

We have a client--actually a longtime client’s son--who has invested with us for almost a decade. We gave him the usual good client service--including informational quarterly letters, emails when the market was behaving badly--and we were always available to answer questions. His situation changed drastically when the company he invested in sold and his share was over $40 million--a far cry from the $100,000 he had with us from his father’s gifts.